Which of the following is not a power of the Department of Financial Institutions?

The power of adopting rules necessary to enforce the Utah Residential Mortgage Practices and Licensing Act is indeed a responsibility of the Department of Financial Institutions. This authority allows the department to establish regulations and guidelines that ensure compliance with the act, helping to maintain standards within the mortgage industry and protect consumers.

On the other hand, enforcing loan repayment procedures, issuing mortgage licenses, and conducting inspections of mortgage companies are all powers that the Department of Financial Institutions also possesses. Each of these functions plays a critical role in regulating the financial institutions operating within Utah, ensuring they adhere to legal requirements and maintain accountability to the public.

Thus, recognizing that the department does have the authority to adopt rules for enforcement highlights the comprehensive nature of its regulatory powers in overseeing the mortgage industry.