1. (a) In this section, “installment loan” has the meaning stated in § 11-301 of this title.

2. (b) Except for § 11-219 of this title, this title does not apply to a person that acquires or is assigned in whole or in part:

   1. (1) A mortgage, if the person does not otherwise make mortgages;
   2. (2) A mortgage loan, as defined in § 11-501 of this title, if the person does not otherwise engage in the mortgage lending business, as defined in § 11-501 of this title; or

   3. (3) An installment loan, if the person:

      1. (i) Relies on another person to service or collect on the installment loan; and
      2. (ii) Does not otherwise make installment loans.
3. (c) This section may not be construed to alter the definition of “student loan servicer”, as defined in § 2-104.1 of this article.

Added by Acts 2025, c. 118, § 1, eff. April 22, 2025.