Maine § 507. - Disclosure regarding private mortgage insurance
Full text of Maine Maine Revised Statutes § 507. — Disclosure regarding private mortgage insurance, with citation guidance and answers to common questions.
§ 507.. Disclosure regarding private mortgage insurance
With respect to a mortgage loan on residential real property for which the processor or underwriter of that loan also engages in the business of private mortgage insurance, a supervised lender, as defined in Title 9‑A, section 1‑301, subsection 39, or a loan broker, as defined in Title 9‑A, section 10‑102, shall disclose to the loan applicant at the time of application the fact that the processor or underwriter is also in the business of private mortgage insurance. Failure to provide the disclosure required by this section does not annul, alter or affect the validity or enforceability of the mortgage loan. [PL 2011, c. 691, Pt. A, §38 (AMD).]
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 507.
What does Maine Revised Statutes § 507. cover?
Section 507. ("Disclosure regarding private mortgage insurance") is part of the Maine Revised Statutes, the codified statutory law of Maine. 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 Maine § 507.?
A common citation format is "Maine Revised Statutes § 507." (Maine). 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 Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 507. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine 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 Maine.