Colorado § 12-10-726 - Fee, commission, or compensation - when permitted - amount.
Full text of Colorado Colorado Revised Statutes § 12-10-726 — Fee, commission, or compensation - when permitted - amount., with citation guidance and answers to common questions.
§ 12-10-726. Fee, commission, or compensation - when permitted - amount.
(1) Except as otherwise permitted by subsection (2) or (3) of this section, a mortgage loan originator shall not receive a fee, commission, or compensation of any kind in connection with the preparation or negotiation of a residential mortgage loan unless a borrower actually obtains a loan from a lender on the terms and conditions agreed to by the borrower and mortgage loan originator.
(2) If the mortgage loan originator has obtained for the borrower a written commitment from a lender for a loan on the terms and conditions agreed to by the borrower and the mortgage loan originator, and the borrower fails to close on the loan through no fault of the mortgage loan originator, the mortgage loan originator may charge a fee, not to exceed three hundred dollars, for services rendered, preparation of documents, or transfer of documents in the borrower's file that were prepared or paid for by the borrower if the fee is not otherwise prohibited by the federal "Truth in Lending Act", 15 U.S.C. sec. 1601, and Regulation Z, 12 CFR 226, as amended.
(3) A mortgage loan originator may solicit or receive fees for third-party provider goods or services in advance. Fees for any goods or services not provided shall be refunded to the borrower, and the mortgage loan originator may not charge more for the goods and services than the actual costs of the goods or services charged by the third-party provider.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 712, § 1, effective October 1.
Editor's note: This section is similar to former § 12-61-915 as it existed prior to 2019.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 12-10-726
What does Colorado Revised Statutes § 12-10-726 cover?
Section 12-10-726 ("Fee, commission, or compensation - when permitted - amount.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 12-10-726?
A common citation format is "Colorado Revised Statutes § 12-10-726" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 12-10-726 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.