What must loan originators disclose to borrowers according to Utah law?

Loan originators in Utah are required to disclose all service fees and charges to borrowers to ensure transparency and allow consumers to make informed decisions about their loans. This requirement aims to protect borrowers from hidden costs and ensures they understand the total financial obligations involved in the loan process. By disclosing all relevant fees, including origination fees, application fees, and any other charges associated with the loan, the loan originator provides borrowers with a clear picture of their financial situation and the total cost of borrowing.

The other options do not align with the legal disclosure requirements. For instance, disclosing interest rates set by competitors is not permitted, as it doesn't pertain to the specific agreement between the lender and the borrower. Cancellation fees might be relevant but do not encompass the full scope of charges that need to be transparent. While a loan originator's licensing status is important for compliance and trust, the primary legal obligation focuses on the disclosure of all service fees and charges. This full disclosure is essential for fostering a fair lending environment.