32-9-104. Exemptions -- proof of exemption. (1) The provisions of this part do not apply to:
     (a) an entity that is an agency of the federal, state, or municipal government;
     (b) an entity described in 32-9-103(29)(a)(i) through (29)(a)(iii);
     (c) a registered mortgage loan originator when acting for an entity described in 32-9-103(29)(a)(i) through (29)(a)(iii);
     (d) an individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of that individual;
     (e) a person who offers, negotiates, or provides financing in conjunction with the sale of real property owned by that person and that is secured by a contract for deed, mortgage, deed of trust, or other equivalent security interest on the real property sold;
     (f) a loan that is made by an entity to an employee of the entity if the proceeds of the loan are used to assist the employee in meeting the employee's housing needs;
     (g) an entity engaged solely in commercial real estate lending;
     (h) an entity qualified as a pension plan under 26 U.S.C. 401 if the plan makes residential mortgages only to the plan's participants;
     (i) the federal national mortgage association, the federal home loan mortgage corporation, and the government national mortgage association;
     (j) a 501(c)(3) corporation, which is not otherwise engaged in or holding itself out to the public as being engaged in the mortgage loan business, that makes mortgage loans to promote home ownership or improvements for bona fide low-income individuals;
     (k) a person that performs only real estate brokerage activities and is licensed or registered pursuant to 37-51-301 unless the person is compensated by a mortgage lender, a mortgage broker, or a mortgage loan originator or an agent of the mortgage lender, mortgage broker, or mortgage loan originator;
     (l) 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 mortgage lender, mortgage broker, or mortgage loan originator or any agent of the mortgage lender, mortgage broker, or mortgage loan originator; or
     (m) a licensed certified public accountant or a licensed public accountant who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to providing public accounting services to the client unless the accountant is compensated by a mortgage lender, a mortgage broker, or a mortgage loan originator or an agent of the mortgage lender, mortgage broker, or mortgage loan originator.
     (2) The department or the secretary of housing and urban development may exempt from this part mortgage servicer loss mitigation specialists if the department or the secretary of housing and urban development determines by guideline, interpretation, or rule that an exemption of a mortgage servicer loss mitigation specialist is not in violation of the Secure and Fair Enforcement for Mortgage Licensing Act, Title V of the Housing and Economic Recovery Act, Public Law 110-289.
     (3) The burden of proving an exemption under this section is on the person claiming the exemption. The department shall create a form for requesting an exemption.

     History: En. Sec. 4, Ch. 516, L. 2003; amd. Sec. 2, Ch. 301, L. 2005; amd. Sec. 4, Ch. 321, L. 2009.