5 Del. Admin. Code § 2401-2.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 2401-2.0 - Exemptions

The following are exempt from the statute and this regulation:

2.1 registered mortgage loan originators, when acting for an entity that is:

2.1.1 a depository institution;

2.1.2 a subsidiary that is:

2.1.2.1 owned and controlled by a depository institution; and

2.1.2.2 regulated by a federal banking agency; or

2.1.3 an institution regulated by the Farm Credit Administration;

2.2 any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the individual;

2.3 any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence; and

2.4 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 broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator.

5 Del. Admin. Code § 2401-2.0