Mich. Comp. Laws » Michigan Compiled Laws / Chapter 445 / Act 173 of 1987

Mich. Comp. Laws § 445.1651

Short title.

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MORTGAGE BROKERS, LENDERS, AND SERVICERS LICENSING ACT


Act 173 of 1987


445.1651 Short title.

Sec. 1.

    This act shall be known and may be cited as the "mortgage brokers, lenders, and servicers licensing act".

History: 1987, Act 173, Imd. Eff. Nov. 18, 1987

Compiler's Notes:

    For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.

Notes of Decisions
Cited in 19 cases (2 in the last 5 years), 1997–2022 · leading case: Watters v. Wachovia Bank, N. A.
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Watters v. Wachovia Bank, N. A. (2007) scotus · cites it 2× “Even if it were appropriate to delve into the significant impairment question, the history of this very case confirms that neither the Mortgage Brokers, Lenders, and Services Licensing Act, Mich. Comp. Laws Ann. § 445.1651 et seq. (West 2002 and Supp.”
Barclae v. Zarb (2013) michctapp · cites it 2× “’ ” Additionally, plaintiffs claim that an “affiliate” is limited to those who are affiliates of licensees under the Mortgage Brokers, Lenders, and Servicers Licensing Act, MCL 445.1651 etseq. (mortgage brokers, lenders, and servicers).”
Yaldu v. Bank of America Corp. (2010) mied · cites it 4× “; (8) rescission of notes and mortgages; (9) reformation of notes and mortgages; (10) violation of the Mortgage Brokers, Lenders, and Servicers Licensing Act, Mich. Comp. Laws § 445.1651 et seq., based on the defendants’ alleged deceit; (11) violation of the usury law, Mich.”
Bolone v. Wells Fargo Home Mortgage, Inc. (2012) mied · cites it 3× “§ 445.1651. She then alleges that representatives of Wells Fargo “made inaccurate, misleading, untrue or deceptive statements or claims in communications to collect a debt while communicating with Plaintiff’ in violation of M.”
Haifa Goryoka v. Quicken Loan Incorporated (2013) ca6 “(MERS) (collectively the defendants), in Michigan state court, alleging: (1) fraud (count I); (2) violation of Michigan’s Mortgage Brokers, Lenders, and Servicers Licensing Act, Mich. Comp. Laws § 445.1651 , et seq., (count II); (3) breach of contract (count III); (4)…”
Barkho v. Homecomings Financial, LLC (2009) mied · cites it 2× “, commonly known as the “Truth in Lending Act”]; Count Five [Fraudulent Misrepresentation]; Count Six [Negligent Misrepresentation]; Count Seven [Defamation of Credit/ Violation of [the] "Fair Credit Reporting Act”]; Count Eight [Recision of Notes and Mortgages]; Count Nine…”
Nelson v. Associates Financial Services Co. of Indiana, Inc. (2003) michctapp “Plaintiffs also alleged in counts n and in that defendant is not licensed or registered with the Financial Institutions Bureau of the Michigan Department of Commerce as required by the Michigan Mortgage Brokers, Lenders, and Servicers Licensing Act, MCL 445.1651 et seq., and the…”
Wachovia Bank, N.A. v. Watters (2004) miwd “LAW § 445.1651 et seq., and the Secondary Mortgage Loan Act, MICH.”
Noel v. Fleet Finance, Inc. (1997) mied “§§ 445.1651 et seq. (“Mortgage Act”). The Plaintiffs allege that these parties have entered into agreements with Fleet whereby they locate borrowers and originate loans for Fleet in exchange for certain fees.”
Nelson v. Associates Financial Services Co. of Indiana, Inc. (2000) miwd “§ 445.1651, et seq.; the Michigan Consumer Financial Services Act, M.”
Knight v. Ocwen Loan Servicing, LLC (2018) mied “LAWS § 445.1651 ; and (2) the Secondary Mortgage Loan Act, MICH.”
Sutariya Properties LLC v. Allen & I-75 LLC (2020) michctapp · cites it 2× “At the outset, it is clear that North CRE is not a bank, a savings bank or savings and loan association, a credit union, or a person licensed or registered under the Mortgage Brokers, Lenders, and Servicers Licensing Act or Secondary Mortgage Loan Act, MCL 445.1651 et seq. or…”
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