Me. Stat. tit. 9-A § 8-508

Current through 131st (2023-2024) Legislature Chapter 684

Section 8-508 - Authority of administrator

The administrator, by rule or order, shall prohibit acts or practices in connection with: [2011, c. 427, Pt. A, §15(NEW).]

1.Unfair or deceptive mortgage loans. The making of a residential mortgage loan that the administrator finds unfair, deceptive or designed to evade the provisions of section 8-506; and

[2011, c. 427, Pt. A, §15(NEW).]

2.Refinancing; abusive lending practices. The refinancing of a residential mortgage loan that the administrator finds is associated with abusive lending practices or that is otherwise not in the interest of the borrowing public.

[2011, c. 427, Pt. A, §15(NEW).]

Rules adopted pursuant to this section are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A. [2011, c. 427, Pt. A, §15(NEW).]

9-A M.R.S. § 8-508

Added by 2011, c. 427,§ A-15, eff. 9/28/2011.