9-A M.R.S. § 2-310
This is the official text of 9-A M.R.S. § 2-310, part of Maine’s M.R.S — part of the compiled statutory law of Maine, published by the state as "M.R.S." Browse the sections below, each linked to its official government source.
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9-A §2-310. Servicing requirements of assigned supervised loans
Official statutory text
No supervised loan secured by a mortgage on real estate may be assigned under this Article unless:
1. The supervised lender making the loan retains servicing of the loan and either maintains a place of business in this State or maintains a toll-free telephone number or other free means of oral communication that is disclosed to mortgagors and staffed in the manner described in subsection 2 ; or [PL 1987, c. 129, §37 (AMD).]
2. The assignee or servicing agent retained to collect the loan maintains a toll-free telephone number, or other free means of oral communication, that is disclosed to mortgagors in each coupon book or on each periodic billing notice or statement of account and that is staffed during normal business hours for mortgagors to use to communicate with the assignee or servicing agent concerning the supervised loan. [PL 1987, c. 129, §37 (AMD).]
1. The supervised lender making the loan retains servicing of the loan and either maintains a place of business in this State or maintains a toll-free telephone number or other free means of oral communication that is disclosed to mortgagors and staffed in the manner described in subsection 2 ; or [PL 1987, c. 129, §37 (AMD).]
2. The assignee or servicing agent retained to collect the loan maintains a toll-free telephone number, or other free means of oral communication, that is disclosed to mortgagors in each coupon book or on each periodic billing notice or statement of account and that is staffed during normal business hours for mortgagors to use to communicate with the assignee or servicing agent concerning the supervised loan. [PL 1987, c. 129, §37 (AMD).]
Status: in_force · Read it on the official government site
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