Sec. 36a-725. (Formerly Sec. 36-442aa). Definitions.
Sec. 36a-725. (Formerly Sec. 36-442aa). Definitions. As used in this section and
section 36a-726, unless the context otherwise requires:
(1) "First mortgage loan" means any loan made to an individual, the proceeds of
which are to be used primarily for personal, family or household purposes, which loan
is secured by a mortgage upon any interest in one-to-four-family residential, owner-occupied real property located in this state which is not subject to any prior mortgages.
The term includes the renewal or refinancing of an existing first mortgage loan;
(2) "Mortgage insurance" means insurance written by an independent mortgage
insurance company to protect the mortgage lender against loss incurred in the event of
a default by a borrower under the mortgage loan;
(3) "Mortgage lender" means any person engaged in the business of making first
mortgage loans, including, but not limited to, banks, out-of-state banks, Connecticut
credit unions, federal credit unions, out-of-state credit unions, and mortgage lenders
and correspondent mortgage lenders required to be licensed under sections 36a-485 to
36a-498a, inclusive.
(P.A. 89-95, S. 1; P.A. 92-12, S. 91; P.A. 94-122, S. 314, 340; P.A. 04-69, S. 27; P.A. 08-176, S. 61.)
History: P.A. 92-12 redesignated Subdivs. and made technical changes; P.A. 94-122 deleted the definition of "person",
reordered definitions and made other technical changes, effective January 1, 1995; Sec. 36-442aa transferred to Sec. 36a-725 in 1995; P.A. 04-69 amended Subdiv. (3) to substitute "36a-498a" for "36a-498"; P.A. 08-176 added reference to
correspondent mortgage lender and made a conforming change in Subdiv. (3), effective July 1, 2008.