As used in this chapter:

1. (1)

   1. (a) Except as provided in Subsection (1)(b), "broker" means a person who in the regular course of business assists a person in obtaining a mortgage loan for a fee or other consideration paid directly or indirectly.

   2. (b) "Broker" does not include a person solely because of the person's:

      1. (i) real estate brokerage activities; or
      2. (ii) activities as an attorney licensed to practice law in this state who, in the course of the attorney's practice as an attorney, assists a person in obtaining a mortgage loan.
2. (2) "Business as a lender, broker, or servicer" means a person who engages in an act for compensation or in the expectation of compensation that makes the person a lender, broker, or servicer.

3. (3)

   1. (a) Except as provided in Subsection (3)(c), "lender" means a person who in the regular course of business originates a loan secured by a mortgage.
   2. (b) "Lender" includes a mortgage lender.

   3. (c) "Lender" does not include a person who:

      1. (i) as a seller only receives one or more mortgages as security for a purchase money obligation; or

      2. (ii) only receives a mortgage as security for an obligation:

         1. (A) payable on an installment or deferred payment basis; and
         2. (B) arising out of materials furnished or services rendered in the improvement of real property.

4. (4) "Manufactured home" means a transportable factory built housing unit that:

   1. (a) is constructed:

      1. (i) on or after June 15, 1976, according to the National Manufactured Housing Construction and Safety Standards Act of 1974; and

      2. (ii) in one or more sections, which:

         1. (A) in the traveling mode, is eight body feet or more in width or 40 body feet or more in length; or
         2. (B) when erected on site, is 400 or more square feet;
   2. (b) is built on a permanent chassis;
   3. (c) is designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities; and
   4. (d) includes the plumbing, heating, air-conditioning, and electrical systems.
5. (5) "Mobile home" means a transportable factory built housing unit built before June 15, 1976, in accordance with a state mobile home code that existed before the National Manufactured Housing Construction and Safety Standards Act of 1974.
6. (6) "Modular home" means a modular unit as defined in Section 15A-1-302.

7. (7) "Mortgage lender" means an entity that performs each of the following related to originating a mortgage loan:

   1. (a) taking and processing an application;
   2. (b) providing a required disclosure;
   3. (c) in some circumstances, underwriting the mortgage loan and making the final credit approval decision;
   4. (d) closing the mortgage loan in its name;
   5. (e) funding the mortgage loan; and
   6. (f) selling the mortgage loan to an investor.
8. (8) "Nationwide database" means the Nationwide Mortgage Licensing System and Registry, authorized under 12 U.S.C. Sec. 5101 for federal licensing of mortgage loan originators.
9. (9) "Permanently affixed" means anchored to, and supported by, a permanent foundation or installed in accordance with the manufactured housing installation standard code referred to in Section 15A-1-202.
10. (10) "Servicer" means a person who in the regular course of business assumes responsibility for servicing and accepting payments for a mortgage loan.

Amended by Chapter 106, 2016 General Session