CT MLO Practice Questions - Connecticut Mortgage Loan Originator Exam

What is the Connecticut Unfair Trade Practices Act (CUTPA) and how does it apply to mortgage lending?

CUTPA only applies to retail stores CUTPA prohibits unfair or deceptive acts in trade or commerce, including mortgage lending, and provides remedies for borrowers harmed by such practices CUTPA sets interest rates for all Connecticut loans CUTPA only applies to commercial lending

Correct Answer:

CUTPA prohibits unfair or deceptive acts in trade or commerce, including mortgage lending, and provides remedies for borrowers harmed by such practices

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