Utah Modifies Mortgage Licensing and Other Provisions

Utah recently enacted legislation to amend provisions of the Residential Mortgage Practices and Licensing Act (the RMPLA), the Appraisal Management Company Registration and Regulation Act (the AMCRRA), and the Real Estate Licensing and Practices Act (the RELPA). 

Among other things, the bill:

• Amends the RMPLA to clarify that disciplinary action may be taken against a person who is not registered under the RMPLA but who violated the provisions of the RMPLA that were in effect when that person was registered or required to be registered under the RMPLA;
• Removes the “good moral character” requirement for licensure under the RMPLA;
• Removes the requirement that an RMPLA license applicant pay the reasonable expenses incurred in processing the application; and
• Amends numerous provisions under the RELPA regarding licensees, fees, and disciplinary action.