Sec. 3. Exception for owner financers with respect to loan originator license or registration requirements

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Section 1504 of the S.A.F.E. Mortgage Licensing Act of 2008 ( 12 U.S.C. 5103 ) is amended by adding at the end the following: The requirements of this title shall not apply to any person (other than a depository institution) who— extends credit with respect to not more than 24 residential mortgage loans in a 12-month period; and only extends credit with respect to residential mortgage loans that are with respect to property that is owned by such person. .

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U.S. Code

License or registration required
§ 5103

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Sec. 3

Exception for owner financers with respect to loan originator license or registration requirements

U.S.C.§ 5103

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