In addition to activities prohibited elsewhere in this chapter or by law, a person who is a licensee, a person who is required to be licensed under this chapter, a person who is a small mortgage lender, and a person who is licensed under AS 06.20 may not misrepresent or conceal material facts or make false promises likely to influence, persuade, or induce an applicant for a mortgage loan or a borrower to enter into a mortgage loan transaction, or, in the course of a mortgage loan transaction,
(1) pursue a course of misrepresentation through an agent;
(2) improperly refuse to issue a satisfaction of a mortgage loan;
(3) fail to account for or deliver to a person money, a document, or another thing of value obtained in connection with a mortgage loan, including money provided for a real estate appraisal or a credit report if the person is not entitled to retain the money under the circumstances;
(4) pay, receive, or collect, in whole or in part, a commission, fee, or other compensation for brokering a mortgage loan in violation of this chapter, including a mortgage loan brokered by an unlicensed person other than an exempt person under AS 06.60.015
;
(5) fail to disburse money in accordance with a written commitment or agreement to make a mortgage loan;
(6) engage in a transaction, practice, or course of business that is not engaged in by the person in good faith or fair dealing or that constitutes a fraud on a person in connection with the brokering, making, purchase, or sale of a mortgage loan;
(7) influence or attempt to influence through coercion, extortion, or bribery the development, reporting, result, or review of a real estate appraisal sought in connection with a mortgage loan; this paragraph does not prohibit a person from asking an appraiser to
(B) provide further detail, substantiation, or explanation for the appraiser's value determination; or
(C) correct errors in the appraisal report;
(8) in a loan commitment or prequalification letter, make a false or misleading statement, or omit relevant information or conditions that the person knew or reasonably should have known from a preliminary examination of the borrower's loan application, credit report, assets, and income, except that this paragraph does not apply if the borrower made a false or misleading statement or omitted relevant information in the loan application that the person relied on when issuing the loan commitment or prequalification letter;
(9) engage in a practice or course of business in which the ultimate rates, terms, or costs of mortgage loans are materially worse for the borrowers than they are represented to be in the first good faith estimates the person provides to the borrowers; this paragraph does not apply if
(A) the person's generally published or advertised rates, terms, or costs, if any, change for a borrower's loan program; or
(B) new or changed information from the borrower makes it necessary to change the loan program offered to the borrower;
(10) represent that the person has a license, registration, title, certification, sponsorship, approval, status, affiliation, or connection that the person does not have;
(11) engage in unfair, deceptive, or fraudulent mortgage loan practices or advertising.
In addition to activities prohibited elsewhere in this chapter or by law, a person who is a licensee, a person who is required to be licensed under this chapter, a person who is a small mortgage lender, and a person who is licensed under AS 06.20 may not misrepresent or conceal material facts or make false promises likely to influence, persuade, or induce an applicant for a mortgage loan or a borrower to enter into a mortgage loan transaction, or, in the course of a mortgage loan transaction,
(1) pursue a course of misrepresentation through an agent;
(2) improperly refuse to issue a satisfaction of a mortgage loan;
(3) fail to account for or deliver to a person money, a document, or another thing of value obtained in connection with a mortgage loan, including money provided for a real estate appraisal or a credit report if the person is not entitled to retain the money under the circumstances;
(4) pay, receive, or collect, in whole or in part, a commission, fee, or other compensation for brokering a mortgage loan in violation of this chapter, including a mortgage loan brokered by an unlicensed person other than an exempt person under AS 06.60.015
;
(5) fail to disburse money in accordance with a written commitment or agreement to make a mortgage loan;
(6) engage in a transaction, practice, or course of business that is not engaged in by the person in good faith or fair dealing or that constitutes a fraud on a person in connection with the brokering, making, purchase, or sale of a mortgage loan;
(7) influence or attempt to influence through coercion, extortion, or bribery the development, reporting, result, or review of a real estate appraisal sought in connection with a mortgage loan; this paragraph does not prohibit a person from asking an appraiser to
(B) provide further detail, substantiation, or explanation for the appraiser's value determination; or
(C) correct errors in the appraisal report;
(8) in a loan commitment or prequalification letter, make a false or misleading statement, or omit relevant information or conditions that the person knew or reasonably should have known from a preliminary examination of the borrower's loan application, credit report, assets, and income, except that this paragraph does not apply if the borrower made a false or misleading statement or omitted relevant information in the loan application that the person relied on when issuing the loan commitment or prequalification letter;
(9) engage in a practice or course of business in which the ultimate rates, terms, or costs of mortgage loans are materially worse for the borrowers than they are represented to be in the first good faith estimates the person provides to the borrowers; this paragraph does not apply if
(A) the person's generally published or advertised rates, terms, or costs, if any, change for a borrower's loan program; or
(B) new or changed information from the borrower makes it necessary to change the loan program offered to the borrower;
(10) represent that the person has a license, registration, title, certification, sponsorship, approval, status, affiliation, or connection that the person does not have;
(11) engage in unfair, deceptive, or fraudulent mortgage loan practices or advertising.
In addition to activities prohibited elsewhere in this chapter or by law, a person who is a licensee, a person who is required to be licensed under this chapter, a person who is a small mortgage lender, and a person who is licensed under AS 06.20 may not misrepresent or conceal material facts or make false promises likely to influence, persuade, or induce an applicant for a mortgage loan or a borrower to enter into a mortgage loan transaction, or, in the course of a mortgage loan transaction,
(1) pursue a course of misrepresentation through an agent;
(2) improperly refuse to issue a satisfaction of a mortgage loan;
(3) fail to account for or deliver to a person money, a document, or another thing of value obtained in connection with a mortgage loan, including money provided for a real estate appraisal or a credit report if the person is not entitled to retain the money under the circumstances;
(4) pay, receive, or collect, in whole or in part, a commission, fee, or other compensation for brokering a mortgage loan in violation of this chapter, including a mortgage loan brokered by an unlicensed person other than an exempt person under AS 06.60.015
;
(5) fail to disburse money in accordance with a written commitment or agreement to make a mortgage loan;
(6) engage in a transaction, practice, or course of business that is not engaged in by the person in good faith or fair dealing or that constitutes a fraud on a person in connection with the brokering, making, purchase, or sale of a mortgage loan;
(7) influence or attempt to influence through coercion, extortion, or bribery the development, reporting, result, or review of a real estate appraisal sought in connection with a mortgage loan; this paragraph does not prohibit a person from asking an appraiser to
(B) provide further detail, substantiation, or explanation for the appraiser's value determination; or
(C) correct errors in the appraisal report;
(8) in a loan commitment or prequalification letter, make a false or misleading statement, or omit relevant information or conditions that the person knew or reasonably should have known from a preliminary examination of the borrower's loan application, credit report, assets, and income, except that this paragraph does not apply if the borrower made a false or misleading statement or omitted relevant information in the loan application that the person relied on when issuing the loan commitment or prequalification letter;
(9) engage in a practice or course of business in which the ultimate rates, terms, or costs of mortgage loans are materially worse for the borrowers than they are represented to be in the first good faith estimates the person provides to the borrowers; this paragraph does not apply if
(A) the person's generally published or advertised rates, terms, or costs, if any, change for a borrower's loan program; or
(B) new or changed information from the borrower makes it necessary to change the loan program offered to the borrower;
(10) represent that the person has a license, registration, title, certification, sponsorship, approval, status, affiliation, or connection that the person does not have;
(11) engage in unfair, deceptive, or fraudulent mortgage loan practices or advertising.
