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Code · Utah · Title 70D — Financial Institution Mortgage Financing Regulation Act · Chapter 2

70D-2-103. Exemptions.

98 words·~1 min read·/ut/title-70d/chapter-2/70d-2-103

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70D-2-103. Exemptions.
This chapter does not apply to:
(1)a bona fide nonprofit corporation that grants a first mortgage loan to promote home ownership for low and moderate income borrowers;
(2)an agency of the following that grants a first mortgage loan under a specific federal or state law:
(a)the federal government;
(b)a state, county, or municipal government; or
(c)a quasi-governmental agency;
(3)a casual lender that makes less than five mortgage loans a year; or
(4)a mortgage loan of two years or less.
Renumbered and Amended by Chapter 72 , 2009 General Session
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