On March 20, Utah Governor Jon M. Huntsman, Jr. signed House Bill 286 (the Bill), which amends the Utah Consumer Credit Code, as well as mortgage lending and servicing provisions, to address the regulation of consumer and residential mortgage loans. The Bill establishes the Financial Institutions Loan Originator Licensing Act, which, among other things, creates loan originator licensing triggers, an application process, bonding requirements, education requirements, and a process for challenging information in the nationwide database. In addition, the Bill clarifies (i) the requirements for filing notifications, and (ii) provisions related to a lender, broker, or servicer of a mortgage loan