17:10B-2. Prohibitions relative to loan brokers
2. No loan broker shall:
a. Assess, collect or hold an advance fee, directly or indirectly, from or on behalf of a borrower to provide services as a loan broker;
b. Make or use any false or misleading representations or omit any material fact in the offer or sale of the services of a loan broker or lender, whether real or purported;
c. Engage, directly or indirectly, in any act that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a loan broker or lender, whether real or purported, notwithstanding the absence of reliance by the borrower; or
d. Make any false or deceptive representation to the department or conceal a material fact from the department.
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Last modified: October 11, 2016