Sec. 102. (1) This article shall be liberally construed and applied to promote its underlying purposes and policies.
(2) The underlying purposes and policies of this article are:
(a) to permit and encourage the development of fair and economically sound first lien mortgage lending practices; and
(b) to conform the regulation of first lien mortgage lending practices to applicable state and federal laws, rules, regulations, policies, and guidance.
(3) A reference to a requirement imposed by this article includes reference to a related rule of the department adopted under this article.
(4) A reference to a federal law in this article is a reference to the law as in effect December 31, 2020.
As added by P.L.145-2008, SEC.20. Amended by P.L.35-2010, SEC.5; P.L.89-2011, SEC.1; P.L.27-2012, SEC.3; P.L.216-2013, SEC.1; P.L.137-2014, SEC.1; P.L.186-2015, SEC.6; P.L.73-2016, SEC.1; P.L.159-2017, SEC.1; P.L.69-2018, SEC.1; P.L.176-2019, SEC.1; P.L.129-2020, SEC.2; P.L.54-2021, SEC.1.