§454M-6 - Prohibited activities.
[§454M-6] Prohibited activities. It shall be unlawful for any mortgage servicer in the course of any mortgage loan transaction:
(1) To misrepresent or conceal material facts, to make false promises, or to pursue a course of misrepresentation through its agents or otherwise;
(2) To engage in any transaction, practice, or course of business that is not in good faith, does not constitute fair dealing, or that constitutes a fraud upon any person, in connection with the servicing, purchase, or sale of any mortgage loan;
(3) To fail to comply with the mortgage loan servicing transfer, escrow account administration, or borrower inquiry response requirements imposed by Sections 6 and 10 of the Real Estate Settlement Procedures Act, 12 United States Code Sections 2605 and 2609, and regulations adopted thereunder by the Secretary of Housing and Urban Development; or
(4) To fail to comply with applicable federal laws and regulations related to mortgage servicing. [L 2009, c 106, pt of §1]