2014 Hawaii Revised Statutes
TITLE 25. PROFESSIONS AND OCCUPATIONS
454F. Secure and Fair Enforcement for Mortgage Licensing Act
454F-2 Exemptions.

Revision Note

Sections 454F-1 to 454F-26 designated as Part I pursuant to §23G-15.

§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 or an institution regulated by the Farm Credit Administration;

(2) 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;

(3) 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;

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

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

(6) An insured depository institution;

(7) An institution regulated by the Farm Credit Administration;

(8) Employees of government agencies or of housing finance agencies who act as mortgage loan originators; or

(9) A mortgage servicer company that is exempt from chapter 454M, pursuant to section 454M-3. [L Sp 2009, c 32, pt of §2; am L 2010, c 84, §9; am L 2011, c 194, §4; am L 2012, c 252, §7; am L 2014, c 198, §2]