Article 2.--FINANCE CHARGES AND RELATED PROVISIONS
16a-2-310.Prohibited acts by persons licensed or
registered under act.
(1) No person required to be licensed or registered under
this act shall
directly or indirectly:
(a) Delay closing of a loan for the purpose of increasing interest, costs,
fees or charges
payable by the borrower;
(b) misrepresent the material facts or make false promises intended to
influence,
persuade or induce a consumer to enter into a loan;
(c) misrepresent to or conceal from an applicant for a loan, a mortgagor or a
lender,
material facts, terms or conditions of a transaction to which the person
required to be
licensed or registered is a party;
(d) engage in any transaction, practice or business conduct that is not in
good faith or
that operates a fraud upon any person in connection with the making of or
purchase or sale
of any loan;
(e) receive compensation for making a residential mortgage loan where the
licensee or
registrant has otherwise acted as a real estate broker or agent in connection
with the sale of
the real estate which secures the mortgage transaction unless the person
required to be
licensed or registered has provided written disclosure to the person from whom
compensation is collected that the person is receiving compensation both for
making the
loan and for real estate broker or agent services;
(f) engage in any fraudulent lending or underwriting practices;
(g) advertise, display, distribute, broadcast or televise, or cause or permit
to be
advertised, displayed, distributed, broadcast or televised, in any manner, any
false,
misleading or deceptive statement or representation with regard to rates, terms
or conditions
for a loan;
(h) record a mortgage if moneys are not available for immediate disbursal
to the
mortgagor unless, before that recording, the person required to be licensed or
registered
informs the mortgagor in writing of a definite date by which payment shall be
made and
obtains the mortgagor's written permission for the delay;
(i) transfer, assign or attempt to transfer or assign, a license or
registration to any other
person, or assist or aide and abet any person who does not hold a valid license
or
registration under this act in engaging in the conduct of mortgage business;
(j) solicit or enter into a contract with a borrower that provides in
substance that the
person required to be licensed or registered may earn a fee or commission
through best
efforts to obtain a loan even though no loan is actually obtained for the
borrower;
(k) solicit, advertise or enter into a contract for specific interest rates,
points or other
financing terms unless the terms are actually available at the time of
soliciting, advertising or
contracting;
(l) make any payment, threat or promise to any person for the purposes of
influencing
the independent judgment of the person in connection with a residential
mortgage loan, or
make any payment, threat or promise to any appraiser of a property, for the
purposes of
influencing the independent judgment of the appraiser with respect to the value
of the property
or engage in any activity that would constitute a violation of K.S.A.
58-2344, and amendments thereto; or
(m) fail to comply with the uniform consumer credit code, or rules and
regulations promulgated thereunder, or fail to comply with any other state or
federal law,
including the rules and regulations promulgated thereunder, applicable to any
business
authorized or conducted under the uniform consumer credit code.
(2) This section shall be part of and supplemental to the uniform consumer
credit code.
Article 2.--FINANCE CHARGES AND RELATED PROVISIONS
16a-2-310.Prohibited acts by persons licensed or
registered under act.
(1) No person required to be licensed or registered under
this act shall
directly or indirectly:
(a) Delay closing of a loan for the purpose of increasing interest, costs,
fees or charges
payable by the borrower;
(b) misrepresent the material facts or make false promises intended to
influence,
persuade or induce a consumer to enter into a loan;
(c) misrepresent to or conceal from an applicant for a loan, a mortgagor or a
lender,
material facts, terms or conditions of a transaction to which the person
required to be
licensed or registered is a party;
(d) engage in any transaction, practice or business conduct that is not in
good faith or
that operates a fraud upon any person in connection with the making of or
purchase or sale
of any loan;
(e) receive compensation for making a residential mortgage loan where the
licensee or
registrant has otherwise acted as a real estate broker or agent in connection
with the sale of
the real estate which secures the mortgage transaction unless the person
required to be
licensed or registered has provided written disclosure to the person from whom
compensation is collected that the person is receiving compensation both for
making the
loan and for real estate broker or agent services;
(f) engage in any fraudulent lending or underwriting practices;
(g) advertise, display, distribute, broadcast or televise, or cause or permit
to be
advertised, displayed, distributed, broadcast or televised, in any manner, any
false,
misleading or deceptive statement or representation with regard to rates, terms
or conditions
for a loan;
(h) record a mortgage if moneys are not available for immediate disbursal
to the
mortgagor unless, before that recording, the person required to be licensed or
registered
informs the mortgagor in writing of a definite date by which payment shall be
made and
obtains the mortgagor's written permission for the delay;
(i) transfer, assign or attempt to transfer or assign, a license or
registration to any other
person, or assist or aide and abet any person who does not hold a valid license
or
registration under this act in engaging in the conduct of mortgage business;
(j) solicit or enter into a contract with a borrower that provides in
substance that the
person required to be licensed or registered may earn a fee or commission
through best
efforts to obtain a loan even though no loan is actually obtained for the
borrower;
(k) solicit, advertise or enter into a contract for specific interest rates,
points or other
financing terms unless the terms are actually available at the time of
soliciting, advertising or
contracting;
(l) make any payment, threat or promise to any person for the purposes of
influencing
the independent judgment of the person in connection with a residential
mortgage loan, or
make any payment, threat or promise to any appraiser of a property, for the
purposes of
influencing the independent judgment of the appraiser with respect to the value
of the property
or engage in any activity that would constitute a violation of K.S.A.
58-2344, and amendments thereto; or
(m) fail to comply with the uniform consumer credit code, or rules and
regulations promulgated thereunder, or fail to comply with any other state or
federal law,
including the rules and regulations promulgated thereunder, applicable to any
business
authorized or conducted under the uniform consumer credit code.
(2) This section shall be part of and supplemental to the uniform consumer
credit code.
Article 2.--FINANCE CHARGES AND RELATED PROVISIONS
16a-2-310.Prohibited acts by persons licensed or
registered under act.
(1) No person required to be licensed or registered under
this act shall
directly or indirectly:
(a) Delay closing of a loan for the purpose of increasing interest, costs,
fees or charges
payable by the borrower;
(b) misrepresent the material facts or make false promises intended to
influence,
persuade or induce a consumer to enter into a loan;
(c) misrepresent to or conceal from an applicant for a loan, a mortgagor or a
lender,
material facts, terms or conditions of a transaction to which the person
required to be
licensed or registered is a party;
(d) engage in any transaction, practice or business conduct that is not in
good faith or
that operates a fraud upon any person in connection with the making of or
purchase or sale
of any loan;
(e) receive compensation for making a residential mortgage loan where the
licensee or
registrant has otherwise acted as a real estate broker or agent in connection
with the sale of
the real estate which secures the mortgage transaction unless the person
required to be
licensed or registered has provided written disclosure to the person from whom
compensation is collected that the person is receiving compensation both for
making the
loan and for real estate broker or agent services;
(f) engage in any fraudulent lending or underwriting practices;
(g) advertise, display, distribute, broadcast or televise, or cause or permit
to be
advertised, displayed, distributed, broadcast or televised, in any manner, any
false,
misleading or deceptive statement or representation with regard to rates, terms
or conditions
for a loan;
(h) record a mortgage if moneys are not available for immediate disbursal
to the
mortgagor unless, before that recording, the person required to be licensed or
registered
informs the mortgagor in writing of a definite date by which payment shall be
made and
obtains the mortgagor's written permission for the delay;
(i) transfer, assign or attempt to transfer or assign, a license or
registration to any other
person, or assist or aide and abet any person who does not hold a valid license
or
registration under this act in engaging in the conduct of mortgage business;
(j) solicit or enter into a contract with a borrower that provides in
substance that the
person required to be licensed or registered may earn a fee or commission
through best
efforts to obtain a loan even though no loan is actually obtained for the
borrower;
(k) solicit, advertise or enter into a contract for specific interest rates,
points or other
financing terms unless the terms are actually available at the time of
soliciting, advertising or
contracting;
(l) make any payment, threat or promise to any person for the purposes of
influencing
the independent judgment of the person in connection with a residential
mortgage loan, or
make any payment, threat or promise to any appraiser of a property, for the
purposes of
influencing the independent judgment of the appraiser with respect to the value
of the property
or engage in any activity that would constitute a violation of K.S.A.
58-2344, and amendments thereto; or
(m) fail to comply with the uniform consumer credit code, or rules and
regulations promulgated thereunder, or fail to comply with any other state or
federal law,
including the rules and regulations promulgated thereunder, applicable to any
business
authorized or conducted under the uniform consumer credit code.
(2) This section shall be part of and supplemental to the uniform consumer
credit code.