[§454F-1]  Definitions.  In this
chapter, unless the context or subject matter otherwise requires:



"Advertisement" or
"advertising" means:



(1)  Issuing any card, sign, or device to any person;



(2)  Causing, permitting, or allowing the placement of
any sign or marking on or in any building, vehicle, or structure;



(3)  Placing an advertisement in any newspaper,
magazine, or on the Internet;



(4)  Listing or advertising in any directory under a
classification or heading that includes the words "mortgage loan originator",
or the like;



(5)  Broadcasting commercials by airwave or internet
transmission; or



(6)  Transmitting any written communication,
including:



(A)  A letter or a postcard that encourages a
person to borrow from or through a mortgage loan originator; or



(B)  A
written communication that encourages a person to refinance the person's
existing residential mortgage loan and mentions that a new residential mortgage
loan will reduce the monthly payment the borrower will pay on the new
residential mortgage loan or reduce the interest rate on the borrower's
existing residential mortgage loan.



"Applicant" means an individual
applying for the issuance of a license or a renewal of a license under this
chapter.



"Clerical or support duties" include the
following activities subsequent to the receipt of an application:



(1)  The receipt, collection, distribution, and
analysis of information for the processing or underwriting of a residential
mortgage loan; and



(2)  Communication with a borrower to obtain the information
necessary for the processing or underwriting of a loan, to the extent that the
communication does not include offering or negotiating loan rates or terms or
counseling borrowers about residential mortgage loan rates or terms.



"Commissioner" means the commissioner
of financial institutions.



"Federal banking agencies" means the
Board of Governors of the Federal Reserve System, the Comptroller of the
Currency, the Office of Thrift Supervision, the National Credit Union
Administration, and the Federal Deposit Insurance Corporation.



"Immediate family member" means a
spouse, child, sibling, parent, grandparent, grandchild, stepparent, stepchild,
stepsibling, and equivalent adoptive relationships.



"Individual" means a natural person.



"Insured depository institution"
means the same as in 12 United States Code Section 1813(c)(2); provided that it
also includes any credit union whose deposits are insured by the National
Credit Union Association.



"Loan processor or underwriter" means
an individual who performs clerical or support duties as an employee at the
direction of and subject to the supervision and instruction of a mortgage loan
originator or a person who is exempt from licensing as a mortgage loan
originator under this chapter.



"Mortgage loan originator" means an
individual who for compensation or gain or in the expectation of compensation
or gain:



(1)  Takes a residential mortgage loan application; or



(2)  Offers or negotiates terms of a residential
mortgage loan.



"Nationwide Mortgage Licensing System"
means a mortgage licensing system developed and maintained by the Conference of
State Bank Supervisors and the American Association of Residential Mortgage
Regulators for the licensing and registration of licensed mortgage loan
originators.



"Nontraditional mortgage product"
means any mortgage product other than a thirty-year fixed rate residential
mortgage loan where the interest rate is fixed for the thirty-year term.



"Person" means an individual, sole
proprietorship, partnership, corporation, limited liability company, limited
liability partnership, or other association of individuals, however organized.



"Real estate brokerage activity"
means any activity that involves offering or providing real estate brokerage
services to the public, including:



(1)  Acting as a real estate agent or real estate
broker for a buyer, seller, lessor, or lessee of real property;



(2)  Bringing together parties interested in the sale,
purchase, lease, rental, or exchange of real property;



(3)  Negotiating on behalf of any party, any portion
of a contract relating to the sale, purchase, lease, rental, or exchange of
real property other than in connection with providing financing with respect to
any such transaction;



(4)  Engaging in any activity for which a person is
required to be registered or licensed as a real estate agent or real estate
broker by the State; and



(5)  Offering to engage in any activity, or act in any
capacity, described in paragraphs (1), (2), (3), or (4).



"Registered mortgage loan originator"
means any individual who:



(1)  Meets the definition of mortgage loan originator
and is an employee of:



(A)  An insured depository institution;



(B)  A subsidiary that is:



(i)  Owned and controlled by an insured depository
institution; and



(ii)  Regulated by a federal banking agency; or



(C)  An institution regulated by the Farm
Credit Administration; and



(2)  Is registered with, and maintains a unique
identifier through, the Nationwide Mortgage Licensing System and Registry.



"Residential mortgage loan" means any
loan primarily for personal, family, or household use that is secured by a
mortgage, deed of trust, or other equivalent consensual security interest on a
dwelling as defined in Section 103(v) of the Truth in Lending Act, 15 United States
Code Section 1601 et seq. or residential real estate.



"Residential real estate" means any
real property located in this State, upon which a dwelling is constructed or
intended to be constructed.



"Unique identifier" means a number or
other identifier assigned by protocols established by the Nationwide Mortgage
Licensing System. [L Sp 2009, c 32, pt of §2]