§9-305-B. Timely responses to requests for payoff figures
A creditor, assignee or servicer shall respond to a request for a payoff figure within 3 business days following receipt of such a request from a consumer or an agent of the consumer for a consumer credit transaction secured by a mortgage on real estate. The response must include a precise payoff figure as of a date certain and must contain information permitting the consumer or the consumer's agent to update that figure, such as providing a per diem rate from a date certain. A charge may not be assessed for the first 2 requests in any calendar year, and a charge for each subsequent request may not exceed $5. [PL 2005, c. 206, §3 (NEW).]
SECTION HISTORY
PL 2005, c. 206, §3 (NEW).
Structure Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Part 3: REGULATION OF AGREEMENTS AND PRACTICES
9-A §9-302. Terms and conditions of consumer credit transactions; rulemaking
9-A §9-304. Servicing requirements of assigned consumer credit transactions
9-A §9-305. Interest to be paid on funds held in escrow
9-A §9-305-A. Timely payments from escrow
9-A §9-305-B. Timely responses to requests for payoff figures
9-A §9-306. Notice of assignment
9-A §9-307. Receipts; statements of account; evidence of payment
9-A §9-309. Real estate appraisals; copies
9-A §9-310. Privacy of consumer financial information
9-A §9-311. Choice of accounting, tax or attest services provider
9-A §9-311-A. Real estate settlement procedures