2011 Hawaii Code
DIVISION 2. BUSINESS
TITLE25. PROFESSIONS AND OCCUPATIONS
454F. Secure and Fair Enforcement for Mortgage Licensing Act
§454F-2 Exemptions.

§454F-2 Exemptions. This chapter shall not apply to the following:

(1) An exempt registered mortgage loan originator, when acting for an insured depository institution, a subsidiary of an insured depository institution regulated by a federal banking agency, or an institution regulated by the Farm Credit Administration;

(2) Any individual who offers or negotiates terms of a residential mortgage loan with, or on behalf of, an immediate family member of the individual;

(3) Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence;

(4) A licensed attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney's representation of the client unless the attorney is compensated by a lender, a mortgage loan originator company, or other mortgage loan originator or by an agent of a lender, mortgage loan originator company, or other mortgage loan originator;

(5) A person or entity that only performs real estate brokerage activities and is licensed or registered by the State unless the person or entity is compensated by a lender, a mortgage loan originator company, or other mortgage loan originator or by an agent of the lender, mortgage loan originator company, or other mortgage loan originator;

(6) A person or entity solely involved in extensions of credit relating to timeshare plans, as the term is defined in section 101(53D) of Title 11, United States Code;

(7) An exempt sponsoring mortgage loan originator company as defined by this chapter except as otherwise provided by this chapter; or

(8) An insured depository institution. [L Sp 2009, c 32, pt of §2; am L 2010, c 84, §9; am L 2011, c 194, §4]