reglab/housing_qa huggingface dataset:
MI Comp L § 445.1669 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1669 - Continuing to Service Mortgage Loan or Making Mortgage After Suspension or Revocation of License or Registration; Termination of Commitment; Refund.

445.1669 Continuing to service mortgage loan or making mortgage after suspension or revocation of license or registration; termination of commitment; refund. Sec. 19.  Nothing in this act shall preclude a person whose license or registration has been suspended or revoked, summarily or otherwise, from continuing to service mortgage loans pursuant to servicing contracts in existence at the time of the suspension for a period not to exceed 6 months after the date of the entry of the final decision of the presiding officer in the contested case suspending or revoking the license or registration. Nothing in this act shall preclude a person whose license or registration has been suspended or revoked, summarily or otherwise, from making a mortgage loan pursuant to a commitment to make a mortgage loan issued by the person prior to the suspension or revocation. However, a person who received a commitment issued by a person whose license or registration has been suspended or revoked may, prior to closing the loan, terminate the commitment and receive a refund of all money paid to the person. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1670 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1670 - Powers of Commissioner in Conducting Examination or Investigation; Conduct of Person Subpoenaed as Misdemeanor; Conduct of Investigation.

445.1670 Powers of commissioner in conducting examination or investigation; conduct of person subpoenaed as misdemeanor; conduct of investigation. Sec. 20.  (1) In the conduct of any examination or investigation under this act, the commissioner may do any of the following:  (a) Compel the attendance of a person by subpoena.  (b) Administer oaths.  (c) Interrogate a person under oath concerning the business and conduct of affairs of a person subject to this act, and require the production of books, records, or papers relative to the inquiry.  (d) Have free access during regular business hours to the offices, places of business, or other location where the licensee or registrant, or an affiliate of a licensee or registrant, maintains business related documents, and to the books, accounts, papers, records, files, documents, safes, and vaults of a licensee or registrant. The information obtained during the examination or investigation shall be confidential and shall not be available for public inspection or copying, or divulged to any person, except as provided in this section. The information may be disclosed as follows:  (i) To the attorney general.  (ii) To any regulatory agency.  (iii) In connection with an enforcement action brought pursuant to this or another applicable act.  (iv) To law enforcement officials.  (v) To persons authorized by the Ingham county circuit court to receive the information.  (e) Employ independent investigators to conduct a part or all of the investigation, in the case of an investigation other than an examination.  (2) A person subpoenaed under this section who willfully refuses or willfully neglects to appear at the time and place named in the subpoena, or to produce books, accounts, records, files, or documents required by the commissioner, or who refuses to be sworn or, unless permitted by law, refuses to answer as a witness, is guilty of a misdemeanor.  (3) Unless circumstances warrant additional examinations, the commissioner is entitled to conduct 1 examination of each licensee during the calendar year. The commissioner may conduct an investigation of a licensee or registrant against whom a complaint has been filed. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 ;-- Am. 1992, Act 51, Imd. Eff. May 19, 1992 ;-- Am. 1996, Act 210, Imd. Eff. May 22, 1996 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1672a (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1672a - Mortgage Loans; Prohibited Advertising.

445.1672a Mortgage loans; prohibited advertising.Sec. 22a.  (1) A licensee or registrant shall not, directly or indirectly, make a false, misleading, or deceptive advertisement regarding mortgage loans or the availability of mortgage loans.  (2) A licensee or registrant shall not advertise any size of loan, security required for a loan, rate of charge, or other condition of lending except with the full intent of making loans at those rates, or lower rates, and under those conditions, to mortgage loan applicants who meet the standards or qualifications prescribed by the licensee or registrant. History: Add. 1996, Act 210, Imd. Eff. May 22, 1996 ;-- Am. 2008, Act 70, Imd. Eff. Apr. 3, 2008 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1672b (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1672b - Repealed. 2009, Act 76, Eff. July 31, 2010.

445.1672b Repealed. 2009, Act 76, Eff. July 31, 2010. Compiler's Notes: The repealed section pertained to prohibited conduct of loan officer registrant.
MI Comp L § 445.1673 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1673 - Reasonable and Necessary Charges; Terms and Conditions of Guarantee.

445.1673 Reasonable and necessary charges; terms and conditions of guarantee. Sec. 23.  (1) A licensee or registrant may require a borrower to pay reasonable and necessary charges which are the actual expenses incurred by the licensee or registrant in connection with the making, closing, disbursing, extending, readjusting, or renewing of a mortgage loan and a loan processing fee. The charges shall be in addition to interest authorized by law, and are not a part of the interest collected or agreed to be paid on the mortgage loan within the meaning of the law of this state which limits the rate of interest which may be exacted in a transaction. The charges shall be paid only once by the borrower to the licensee or registrant. This section is not intended to override the federal preemption of state usury laws contained in the depository institutions deregulation and monetary control act of 1980, Public Law 96-221.  (2) A licensee or registrant which assesses or accepts a fee to guarantee a specified rate of interest on a mortgage loan shall specify the terms and conditions of the guarantee in writing. The terms and conditions of the guarantee shall not extend beyond the expiration of the guarantee unless extended in writing by all the parties. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 ;-- Am. 1996, Act 210, Imd. Eff. May 22, 1996 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1674 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1674 - Annual Statement and Ledger History of Borrower's Account; Fee Prohibited.

445.1674 Annual statement and ledger history of borrower's account; fee prohibited. Sec. 24.  (1) A mortgage servicer shall deliver to the borrower annually a statement of the borrower's account showing the unpaid principal balance of the mortgage loan at the end of the immediately preceding 12-month period, the interest paid during such period, and the amounts deposited into escrow and disbursed from escrow during the period. In addition, within 25 days after receipt of a written request from the borrower, a mortgage servicer shall deliver to the borrower a ledger history of the borrower's account showing the date and amount of all payments made or credited to the account, but in no event for a period in excess of the immediately preceding 12-month period, and the total unpaid balance. In no event shall a mortgage servicer be obligated to furnish to the borrower more than 1 annual statement and 1 ledger history upon written request of the borrower in any 12-month period.  (2) A fee shall not be charged the borrower for the annual statement or for 1 ledger history furnished to a borrower in a 12-month period. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1675a (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1675a - Exemptions; Filing Affidavit; Failure to Meet Qualifications.

445.1675a Exemptions; filing affidavit; failure to meet qualifications. Sec. 25a.  (1) Except for the requirements of section 23, the commissioner may exempt from the requirements of this act a person the commissioner believes merits the confidence of the community and demonstrates all of the following:  (a) Is exempt from federal income taxes under section 501(c) of the internal revenue code of 1986.  (b) Administers a mortgage loan program funded or sponsored by 1 or more depository financial institutions, state or federal governmental entities, or charitable, religious, or other nonprofit organizations.  (c) Its mortgage loan program is targeted exclusively to persons that would not otherwise have access to affordable mortgage loans from traditional mortgage lending sources.  (d) Its housing development efforts have the support of the agency of its local governmental jurisdiction responsible for community development.  (e) Its mortgage lending activity is limited to a defined geographic area in this state, not larger than a county in the case of a metropolitan statistical area.  (f) Has the capacity to accomplish its business plan.  (g) Does not directly or indirectly share with another person any portion of fees paid to the organization in connection with a mortgage loan.  (h) That it will comply with state and federal law and with the spirit and intent of section 22a.  (i) Does not service mortgage loans.  (2) Notwithstanding subsection (1)(i), the commissioner may issue an exemption to a person that services mortgage loans if the person has complied with subsection (1)(a) through (h) and the commissioner determines the exemption is in the public interest.  (3) Not later than February 1 of every second year following the commissioner's determination that an organization meets the qualifications under subsection (1) or (2), the organization shall file an affidavit that it continues to meet the qualifications.  (4) An organization that has been determined to meet the qualifications of subsection (1) or (2) and subsequently fails to meet 1 or more of those qualifications shall within 90 days register or file an application for license under section 3(1) or discontinue activities that would require registration or licensure under this act. History: Add. 1998, Act 371, Imd. Eff. Oct. 20, 1998 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1676 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1676 - Laws to Which Mortgage Loan Subject.

445.1676 Laws to which mortgage loan subject. Sec. 26.  Notwithstanding the place of execution, nominal or real, of a mortgage loan, if the real property is located in this state, the mortgage loan is subject to this act and all other applicable laws of this state. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1677 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1677 - Period Within Which to File Application for License and Proof of Financial Responsibility, to Pay Fees, or to Register.

445.1677 Period within which to file application for license and proof of financial responsibility, to pay fees, or to register. Sec. 27.  Any mortgage broker, mortgage lender, or mortgage servicer engaged in activities covered by this act on the effective date of this act shall have 90 days after the effective date of this act in which to file an application for a license together with proof of financial responsibility as required by section 4, and to pay any required fees, or to register and pay any required registration fee. During the 90-day period, and until the commissioner acts on the application, the applicant shall be entitled to operate without a license but shall otherwise comply with all other provisions of this act. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1678 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1678 - Civil or Criminal Liability.

445.1678 Civil or criminal liability. Sec. 28.  This act does not relieve a person from civil or criminal liability under other laws of this state or any federal law. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1680 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1680 - Effect of Noncompliance on Validity or Enforceability of Mortgage Loan.

445.1680 Effect of noncompliance on validity or enforceability of mortgage loan. Sec. 30.  Failure to comply with the provisions of this act shall not affect the validity or enforceability of any mortgage loan, unless the mortgage loan is invalid or unenforceable under the provisions of any other laws of this state or under any federal law. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1681 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1681 - Action to Obtain Declaratory Judgment, Injunction, or Actual Damages; Limitation.

445.1681 Action to obtain declaratory judgment, injunction, or actual damages; limitation. Sec. 31.  (1) Whether or not a person seeks damages or has an adequate remedy at law, any person, prosecutor, or the attorney general may bring an action, including a class action, to do any of the following:  (a) Obtain a declaratory judgment that a method, act, or practice is a violation of this act.  (b) Obtain an injunction against a person who is engaging in or is about to engage in a method, act, or practice that violates this act.  (c) Except as limited by subsection (2), recover actual damages resulting from a violation of this act, or $250.00, whichever is greater, together with reasonable attorney fees and the costs of bringing the action.  (2) If the licensee or registrant establishes by a preponderance of the evidence that the failure to comply with the act was not willful, intentional, or the result of gross or wanton negligence, the amount recovered pursuant to subsection (1)(c) shall not exceed actual damages. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1684 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1684 - Claims Filed Against Proof of Financial Responsibility.

445.1684 Claims filed against proof of financial responsibility. Sec. 34.  (1) The commissioner shall prioritize and pay claims against a proof of financial responsibility filed with the commissioner under section 4 in a manner that, in his or her discretion, best protects the public interest.  (2) Claims may only be filed against a licensee's proof of financial responsibility as provided under this section by the licensee's borrowers, mortgage loan applicants, loan servicing customers, and the commissioner.  (3) Claims filed against a proof of financial responsibility by a borrower or loan applicant shall involve only mortgage loans or mortgage applications secured or to be secured by residential real property located in this state. The amount of the claim shall not exceed actual fees in connection with a loan application, overcharges of principal and interest, and excess escrow collections charged by the licensee and paid by the claimant to the licensee.  (4) The commissioner may file a claim against a proof of financial responsibility for payment of fines or fees due and payable to the commissioner or the bureau and reimbursement of expenses incurred in investigating the licensee and expenses incurred in distributing proceeds of the proof of financial responsibility. A claim filed under this subsection shall be paid in full prior to payment of other claims against a proof of financial responsibility, unless the commissioner, in his or her discretion, waives in whole or in part the right to priority of payment.  (5) In the event that valid claims exceed the amount of the proof of financial responsibility, each claimant shall be entitled only to a pro rata amount of his or her valid claim. History: Add. 1996, Act 210, Imd. Eff. May 22, 1996 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 445.1711 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 378 of 1988 - Preservation of Personal Privacy (445.1711 - 445.1715)|Section 445.1711 - Definitions.

445.1711 Definitions.Sec. 1.  As used in this act:  (a) "Customer" means an individual who purchases, rents, or borrows a book, other written material, a sound recording, or a video recording.  (b) "Employee" means an individual who works for an employer in exchange for wages or other remuneration.  (c) "Employer" means a person that has 1 or more employees.  (d) "Ordinary course of business" means activities related to the sale, rental, or lending of, or advertising in, materials described in section 2.  (e) "Written" includes any electronic means using the Internet or otherwise authorized under the uniform electronic transactions act, 2000 PA 305, MCL 450.831 to 450.849. History: 1988, Act 378, Eff. Mar. 30, 1989 ;-- Am. 2016, Act 92, Eff. July 31, 2016 Compiler's Notes: Enacting section 2 of Act 92 of 2016 provides:"Enacting section 2. This amendatory act is curative and intended to clarify that the prohibitions on disclosing information contained in 1988 PA 378, MCL 445.1711 to 445.1715, do not prohibit disclosing information if it is incident to the ordinary course of business of the person disclosing the information, including marketing goods and services to customers or potential customers when written notice is provided, and that a civil action for a violation of those prohibitions may only be brought by a customer who has suffered actual damages as a result of the violation."Popular Name: Video Rental Privacy Act