reglab/housing_qa huggingface dataset:
CO Code § 12-10-717 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-717. Bond Required - Rules

  Before receiving a license, an applicant shall post with the board a surety bond in an amount prescribed by the board by rule. A licensed mortgage loan originator shall maintain the required bond at all times. The surety bond may be held by the individual mortgage loan originator or may be in the name of the company by which the mortgage loan originator is employed. The board may adopt rules to further define surety bond requirements.    The surety shall not be required to pay a person making a claim upon the bond until a final determination of fraud, forgery, criminal impersonation, or fraudulent representation has been made by a court with jurisdiction.    The surety bond shall require the surety to provide notice to the board within thirty days if payment is made from the surety bond or if the bond is canceled.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 709, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-907 as it existed prior to 2019.
CO Code § 12-10-718 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-718. Fees

 The board may set the fees for issuance and renewal of licenses and registrations under this part 7. The fees shall be set in amounts that offset the direct and indirect costs of implementing this part 7 and section 38-40-105 . The money collected pursuant to this section shall be transferred to the state treasurer, who shall credit it to the division of real estate cash fund created in section 12-10-215 .   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 709, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-908 as it existed prior to 2019.
CO Code § 12-10-719 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-719. Attorney General - District Attorney - Jurisdiction

 The attorney general shall have concurrent jurisdiction with the district attorneys of this state to investigate and prosecute allegations of criminal violations of this part 7.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 709, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-909 as it existed prior to 2019.
CO Code § 12-10-720 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-720. Violations - Injunctions

     [Editor's note: This version of subsection (1)(a) is effective until March 1, 2022.] Any individual violating this part 7 by acting as a mortgage loan originator in this state without having obtained a license or by acting as a mortgage loan originator after that individual's license has been revoked or during any period for which the license may have been suspended is guilty of a class 1 misdemeanor and shall be punished as provided in section 18-1.3-501; except that, if the violator is not a natural person, the violator shall be punished by a fine of not more than five thousand dollars.    Each residential mortgage loan negotiated or offered to be negotiated by an unlicensed person shall be a separate violation of this subsection (1).       The board may request that an action be brought in the name of the people of the state of Colorado by the attorney general or the district attorney of the district in which the violation is alleged to have occurred to enjoin a person from engaging in or continuing the violation or from doing any act that furthers the violation. In such an action, an order or judgment may be entered awarding the preliminary or final injunction as is deemed proper by the court. The notice, hearing, or duration of an injunction or restraining order shall be made in accordance with the Colorado rules of civil procedure.    A violation of this part 7 shall not affect the validity or enforceability of any mortgage.     (a) [ ] Any individual violating this part 7 by acting as a mortgage loan originator in this state without having obtained a license or by acting as a mortgage loan originator after that individual's license has been revoked or during any period for which the license may have been suspended commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501 ; except that, if the violator is not a natural person, the violator shall be punished by a fine of not more than five thousand dollars.  Editor's note: This version of subsection (1)(a) is effective March 1, 2022.  History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 709, § 1, effective October 1. L. 2021: (1)(a) amended,(SB 21-271), ch. 462, p. 3154, § 139, effective March 1, 2022.    Editor's note:    This section is similar to former § 12-61-910 as it existed prior to 2019.    Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.
CO Code § 12-10-721 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-721. Prohibited Conduct - Influencing a Real Estate Appraisal

  A mortgage loan originator shall not, directly or indirectly, compensate, coerce, or intimidate an appraiser, or attempt, directly or indirectly, to compensate, coerce, or intimidate an appraiser, for the purpose of influencing the independent judgment of the appraiser with respect to the value of a dwelling offered as security for repayment of a residential mortgage loan. This prohibition shall not be construed as prohibiting a mortgage loan originator from requesting an appraiser to:   Consider additional, appropriate property information;    Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or    Correct errors in the appraisal report.        History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 710, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-910.2 as it existed prior to 2019.
CO Code § 12-10-722 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-722. Rule-Making Authority

 The board has the authority to promulgate rules as necessary to enable the board to carry out the board's duties under this part 7.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 710, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-910.3 as it existed prior to 2019.
CO Code § 12-10-723 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-723. Acts of Employee - Mortgage Loan Originator's Liability

 An unlawful act or violation of this part 7 upon the part of an agent or employee of a licensed mortgage loan originator shall not be cause for disciplinary action against a mortgage loan originator unless it appears that the mortgage loan originator knew or should have known of the unlawful act or violation or had been negligent in the supervision of the agent or employee.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 710, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-911.5 as it existed prior to 2019.
CO Code § 12-10-724 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-724. Dual Status as Real Estate Broker - Requirements

  Unless a mortgage loan originator complies with both subsections (2) and (3) of this section, he or she shall not act as a mortgage loan originator in any transaction in which:   The mortgage loan originator acts or has acted as a real estate broker or salesperson; or    Another person doing business under the same licensed real estate broker acts or has acted as a real estate broker or salesperson.       Before providing mortgage-related services to the borrower, a mortgage loan originator shall make a full and fair disclosure to the borrower, in addition to any other disclosures required by this part 7 or other laws, of all material features of the loan product and all facts material to the transaction.      A real estate broker or salesperson licensed under part 2 of this article 10 who also acts as a mortgage loan originator shall carry on the mortgage loan originator business activities and shall maintain the person's mortgage loan originator business records separate and apart from the real estate broker or sales activities conducted pursuant to part 2 of this article 10. The activities shall be deemed separate and apart even if they are conducted at an office location with a common entrance and mailing address if:   Each business is clearly identified by a sign visible to the public;    Each business is physically separated within the office facility; and    No deception of the public as to the separate identities of the broker business firms results.       This subsection (3) shall not require a real estate broker or salesperson licensed under part 2 of this article 10 who also acts as a mortgage loan originator to maintain a physical separation within the office facility for the conduct of its real estate broker or sales and mortgage loan originator activities if the board determines that maintaining the physical separation would constitute an undue financial hardship upon the mortgage loan originator and is unnecessary for the protection of the public.         History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 710, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-912 as it existed prior to 2019.
CO Code § 12-10-725 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-725. Written Disclosure of Fees and Costs - Contents - Limits on Fees - Rules

  A mortgage loan originator's disclosures must comply with all applicable requirements of:   The federal “Truth in Lending Act”, 15 U.S.C. sec. 1601 et seq., and Regulation Z, 12 CFR 226 and 12 CFR 1026;    The federal “Real Estate Settlement Procedures Act of 1974”, 12 U.S.C. sec. 2601 et seq., and Regulation X, 12 CFR 1024 et seq.;    The federal “Equal Credit Opportunity Act”, 15 U.S.C. sec. 1691 and Regulation B, 12 CFR 202.9, 202.11, and 202.12 and 12 CFR 1002;    Title V, Subtitle A of the federal “Financial Services Modernization Act of 1999”, also known as the “Gramm-Leach-Bliley Act”, 15 U.S.C. secs. 6801 to 6809, and the federal trade commission's privacy rules, 16 CFR 313 and 314, adopted in accordance with the federal “Gramm-Leach-Bliley Act”;    The federal “Home Mortgage Disclosure Act of 1975”, 12 U.S.C. sec. 2801 et seq., and Regulation C, 12 CFR 203 and 12 CFR 1003, pertaining to home mortgage disclosure;    The “Federal Trade Commission Act” of 1914, 15 U.S.C. sec. 45 (a), and 16 CFR 233;    The federal “Telemarketing and Consumer Fraud and Abuse Prevention Act”, 15 U.S.C. secs. 6101 to 6108, and the federal trade commission's telemarketing sales rule, 16 CFR 310.       The board may, by rule, require mortgage loan originators to comply with other mortgage loan disclosure requirements contained in applicable statutes and regulations in connection with making any residential mortgage loan or engaging in other activity subject to this part 7.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 711, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-914 as it existed prior to 2019.
CO Code § 12-10-726 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-726. Fee, Commission, or Compensation - When Permitted - Amount

  Except as otherwise permitted by subsection (2) or (3) of this section, a mortgage loan originator shall not receive a fee, commission, or compensation of any kind in connection with the preparation or negotiation of a residential mortgage loan unless a borrower actually obtains a loan from a lender on the terms and conditions agreed to by the borrower and mortgage loan originator.    If the mortgage loan originator has obtained for the borrower a written commitment from a lender for a loan on the terms and conditions agreed to by the borrower and the mortgage loan originator, and the borrower fails to close on the loan through no fault of the mortgage loan originator, the mortgage loan originator may charge a fee, not to exceed three hundred dollars, for services rendered, preparation of documents, or transfer of documents in the borrower's file that were prepared or paid for by the borrower if the fee is not otherwise prohibited by the federal “Truth in Lending Act”, 15 U.S.C. sec. 1601, and Regulation Z, 12 CFR 226, as amended.    A mortgage loan originator may solicit or receive fees for third-party provider goods or services in advance. Fees for any goods or services not provided shall be refunded to the borrower, and the mortgage loan originator may not charge more for the goods and services than the actual costs of the goods or services charged by the third-party provider.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 712, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-915 as it existed prior to 2019.
CO Code § 12-10-727 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-727. Confidentiality

  Except as otherwise provided in the federal “Secure and Fair Enforcement for Mortgage Licensing Act of 2008”, 12 U.S.C. sec. 5111, the requirements under any federal law or law of this state regarding privacy or confidentiality of any information or material provided to the nationwide mortgage licensing system and registry, and any privilege arising under federal or state law, including the rules of any federal or state court with respect to the information or material, shall apply to the information or material after it has been disclosed to the nationwide mortgage licensing system and registry. The information or material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or confidentiality protections provided by federal or state law.    The board may enter into agreements with other government agencies, the Conference of State Bank Supervisors or its successor organization, the American Association of Residential Mortgage Regulators or its successor organization, or other associations representing government agencies as established by rule.    Information or material that is subject to privilege or confidentiality pursuant to subsection (1) of this section shall not be subject to the following:   Disclosure under a federal or state law governing the disclosure to the public of information held by an officer or agency of the federal government or the respective state; or    Subpoena, discovery, or admission into evidence in any private civil action or administrative process, unless with respect to a privilege held by the nationwide mortgage licensing system and registry regarding the information or material, the person to whom the information or material pertains waives the privilege, in whole or in part.        History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 712, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-916 as it existed prior to 2019.
CO Code § 12-10-728 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-728. Mortgage Call Reports - Reports of Violations

  The board may require each licensee or registrant to submit to the nationwide mortgage licensing system and registry mortgage call reports, which shall be in the form and contain the information required by the nationwide mortgage licensing system and registry.    The board may report violations of this part 7, enforcement actions, and other relevant information to the nationwide mortgage licensing system and registry.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 713, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-917 as it existed prior to 2019.
CO Code § 12-10-729 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-729. Unique Identifier - Clearly Displayed

 Each person required to be licensed or registered shall show his or her or the entity's unique identifier clearly on all residential mortgage loan application forms and any other documents as specified by the board by rule or order.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 713, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-918 as it existed prior to 2019.
CO Code § 12-10-730 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 7 - Mortgage Loan Originators|§ 12-10-730. Repeal of Part - Subject to Review

  This part 7 is repealed, effective September 1, 2029.    Before the repeal, the licensing of mortgage loan originators and the registration of mortgage companies is scheduled for review in accordance with section 24-34-104. The department shall include in its review of mortgage loan originators and mortgage companies an analysis of the number and types of complaints made about mortgage loan originators and mortgage companies and whether the licensing of mortgage loan originators and the registration of mortgage companies correlates with public protection from fraudulent activities in the residential mortgage loan industry.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 713, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-919 as it existed prior to 2019.
CO Code § 12-10-901 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 9 - Home Warranty Service Contracts|§ 12-10-901. Definitions

 As used in this part 9, unless the context otherwise requires:    “Home warranty service company”, referred to in this part 9 as the “company”, means any person who undertakes a contractual obligation on a new or preowned home through a home warranty service contract.      “Home warranty service contract” means any contract or agreement whereby a person undertakes for a predetermined fee, with respect to a specified period of time, to maintain, repair, or replace any or all of the following elements of a specified new or preowned home:   Structural components, such as the roof, foundation, basement, walls, ceilings, or floors;    Utility systems, such as electrical, air conditioning, plumbing, and heating systems, including furnaces; and    Appliances, such as stoves, washers, dryers, and dishwashers.       “Home warranty service contract” does not include:   Any contract or agreement whereby a public utility undertakes for a predetermined fee, with respect to a specified period of time, to repair or replace any or all of the elements of a specified new or preowned home as specified in subsection (2)(a)(II) or (2)(a)(III) of this section; or    A builder's warranty provided in connection with the sale of a new home.          “Person” includes an individual, company, corporation, association, agent, and every other legal entity.    “Preowned” means a single-family residence, residential unit in a multiple-dwelling structure, or mobile home on a foundation that is occupied as a residence and not owned by the builder-developer or first occupant.      History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 715, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-602 as it existed prior to 2019.
CO Code § 12-10-902 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 9 - Home Warranty Service Contracts|§ 12-10-902. Purchase of Service Contract Not Compulsory

 A company selling, offering to sell, or effecting the issuance of a home warranty service contract under this part 9 shall not in any manner require a home buyer or seller, or prospective home buyer or seller, or person refinancing a home to purchase a home warranty service contract.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 716, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-611 as it existed prior to 2019.
CO Code § 12-10-903 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 9 - Home Warranty Service Contracts|§ 12-10-903. Contract Requirements

  Every home warranty service contract shall contain the following information:   A specific listing of all items or elements excluded from coverage;    A specific listing of all other limitations in coverage, including the exclusion of preexisting conditions if applicable;    The procedure that is required to be followed in order to obtain repairs or replacements;    A statement as to the time period, following notification to the company, within which the requested repairs will be made or replacements will be provided;    The specific duration of the home warranty service contract, including an exact termination date that is not contingent upon an unspecified future closing date or other indefinite event;    A statement as to whether the home warranty service contract is transferable;    A statement that actions under a home warranty service contract may be covered by the provisions of the “Colorado Consumer Protection Act” or the “Unfair Practices Act”, articles 1 and 2 of title 6, and that a party to such a contract may have a right of civil action under those laws, including obtaining the recourse or penalties specified in those laws.        History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 716, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-611.5 as it existed prior to 2019.
CO Code § 12-10-904 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 9 - Home Warranty Service Contracts|§ 12-10-904. Penalty for Violation

 Any person who knowingly violates any provision of this part 9 commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501 . Each instance of violation shall be considered a separate offense.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 716, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-612 as it existed prior to 2019.
CO Code § 12-10-905 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 9 - Home Warranty Service Contracts|§ 12-10-905. Prohibitions

 It is unlawful for any lending institution to require the purchase of a home warranty service contract as a condition for granting financing for the purchase of the home.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 716, § 1, effective October 1. L. 2020: Entire section amended,(HB 20-1214), ch. 122, p. 519, § 3, effective June 24.    Editor's note:   This section is similar to former § 12-61-614 as it existed prior to 2019.