Michigan · Statutes
Act Act-173-of-1987
42 sections
42 sections
- Mich. Comp. Laws § 445.1651Short title.
- Mich. Comp. Laws § 445.1651aDefinitions.
- Mich. Comp. Laws § 445.1652Mortgage broker, mortgage lender, or mortgage servicer; license or registration required; exemption; application; compensation or other remuneration; words contained in name or assumed name; "employee" defined.
- Mich. Comp. Laws § 445.1653License or renewal; application; form; investigation; determination; issuance; indemnification.
- Mich. Comp. Laws § 445.1654Proof of financial responsibility.
- Mich. Comp. Laws § 445.1655Minimum net worth.
- Mich. Comp. Laws § 445.1656Registration required; applicability of certain provisions; licensing or registration of real estate broker or salesperson; improper use of business name.
- Mich. Comp. Laws § 445.1657Expiration of registration or license; renewal; application; fee; limitation; financial statement.
- Mich. Comp. Laws § 445.1658Payment for investigation and annual operating fees; establishment of annual fee schedule; limitation; fees nonrefundable; action for delinquent payment; licensee or registrant report; penalties; establishment and administration of MBLSLA fund; basis for setting operating fee.
- Mich. Comp. Laws § 445.1659Transfer or assignment of license or registration.
- Mich. Comp. Laws § 445.1660Surrender, revocation, or suspension of license or registration; loss or destruction; affidavit.
- Mich. Comp. Laws § 445.1661Powers of commissioner generally.
- Mich. Comp. Laws § 445.1662Notice of intention to enter order of license or registration, suspension or revocation, or refusal to issue license; hearing; final order.
- Mich. Comp. Laws § 445.1663Complaint; investigation; federal regulatory authority.
- Mich. Comp. Laws § 445.1664Provisions applicable to investigation.
- Mich. Comp. Laws § 445.1665Summary suspension of license or registration; order; affidavit; dissolution of summary suspension order; record.
- Mich. Comp. Laws § 445.1666Cease and desist order; hearing; violation; injunction.
- Mich. Comp. Laws § 445.1667Remedies cumulative.
- Mich. Comp. Laws § 445.1668Notice of hearing on complaint; service; informal conference; settlement; compliance; hearing.
- Mich. Comp. Laws § 445.1668aFraud; prohibition; notice; hearing; order.
- Mich. Comp. Laws § 445.1668bHearing; final decision; judicial review; effect of review on order.
- Mich. Comp. Laws § 445.1668cEnforcement of order; jurisdiction.
- Mich. Comp. Laws § 445.1668dViolation as misdemeanor; penalty.
- Mich. Comp. Laws § 445.1668eViolation of order; exceptions.
- Mich. Comp. Laws § 445.1669Continuing to service mortgage loan or making mortgage after suspension or revocation of license or registration; termination of commitment; refund.
- Mich. Comp. Laws § 445.1670Powers of commissioner in conducting examination or investigation; conduct of person subpoenaed as misdemeanor; conduct of investigation.
- Mich. Comp. Laws § 445.1671Books, accounts, records, and documents; preservation and examination; reports; false statement as felony; penalty.
- Mich. Comp. Laws § 445.1672Violations generally.
- Mich. Comp. Laws § 445.1672aMortgage loans; prohibited advertising.
- Mich. Comp. Laws § 445.1673Reasonable and necessary charges; terms and conditions of guarantee.
- Mich. Comp. Laws § 445.1674Annual statement and ledger history of borrower's account; fee prohibited.
- Mich. Comp. Laws § 445.1675Applicability of act.
- Mich. Comp. Laws § 445.1675aExemptions; filing affidavit; failure to meet qualifications.
- Mich. Comp. Laws § 445.1676Laws to which mortgage loan subject.
- Mich. Comp. Laws § 445.1677Period within which to file application for license and proof of financial responsibility, to pay fees, or to register.
- Mich. Comp. Laws § 445.1678Civil or criminal liability.
- Mich. Comp. Laws § 445.1679Prohibited conduct; misdemeanor; penalty; violation of act or rules; civil fine; suspension or revocation of license or registration; refusal to issue or renew license or registration; restitution; proceedings subject to MCL 24.201 to 24.328; bona fide error.
- Mich. Comp. Laws § 445.1680Effect of noncompliance on validity or enforceability of mortgage loan.
- Mich. Comp. Laws § 445.1681Action to obtain declaratory judgment, injunction, or actual damages; limitation.
- Mich. Comp. Laws § 445.1682Conservatorship.
- Mich. Comp. Laws § 445.1683Mortgage industry advisory board; creation; requirements; communication of issues to commissioner; recommendations.
- Mich. Comp. Laws § 445.1684Claims filed against proof of financial responsibility.