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



"Applicant" means a person applying
for a license under this chapter.



"Borrower" means the obligor, maker,
cosigner, or guarantor under a mortgage agreement.



"Commissioner" means the commissioner
of financial institutions of this State.



"License" means a license issued
under this chapter.



"Licensee" means a person licensed or
required to be licensed under this chapter.



"Mortgage servicer" means the person
responsible for receiving any scheduled periodic payments from a borrower
pursuant to the terms of any residential mortgage loan, including amounts for
escrow accounts under Section 10 of the Real Estate Settlement Procedures Act,
12 United States Code Section 2609, and for making the payments to the owner of
the loan or other third parties of principal and interest and such other
payments with respect to the amounts received from the borrower as may be
required pursuant to the terms of the mortgage servicing loan documents or
servicing contract.  In the case of a home equity conversion mortgage or
reverse mortgage as referenced in this chapter, servicing includes making
payments to the borrower.



"Person" means an individual,
partnership, corporation, association, or other organization.



"Residential mortgage loan" means a
mortgage loan, home equity loan, or reverse mortgage loan, that is secured by a
first or subordinate lien on residential real property located in Hawaii,
including a refinancing of any secured loan on residential real property
located in Hawaii, upon which:



(1)  There is or will be constructed a structure or
structures designed principally for occupancy by one to four families,
including individual units of condominiums and cooperatives; or



(2)  A manufactured home is located or will be placed
on the real property, using proceeds of the loan. [L 2009, c 106, pt of §1]