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An Act To Encourage Financing of Manufactured Housing for the Workforce
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 9-A MRSA §13-103, sub-§1, as enacted by PL 2009, c. 362, Pt. B, §1, is amended to read:
 
1. Requirement.   An individual, unless specifically exempted from this Article under subsection 2, may not engage in the business of a mortgage loan originator without obtaining and maintaining annually a license under this Article. Each licensed mortgage loan originator must register with and maintain a valid unique identifier issued by the nationwide mortgage licensing system and registry.
 
As used in this subsection, "engaging in the business of a mortgage loan originator" means the individual, in a commercial context and habitually or repeatedly:
 
A.  Takes a residential mortgage loan application and offers or negotiates terms of a residential mortgage loan for compensation or gain; or
 
B.  Represents to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists or other promotional items, that the individual can or will perform the activities described in paragraph A.
 
An individual is considered to be acting habitually or repeatedly under this subsection if the individual takes a residential mortgage application and offers or negotiates terms of a residential mortgage loan for compensation or gain more than 3 times in a 12-month period. An exemption from the licensure requirements under this Article does not apply if the individual, alone or with others, is found by the administrator to have acted so as to intentionally circumvent or evade the provisions of this subsection.
Sec. 2.  9-A MRSA §13-103, sub-§2, ¶¶H to J  are enacted to read:
 
H.  An individual who acts as a mortgage loan originator in providing financing for the sale of a property owned by that individual as long as that individual does not habitually or repeatedly engage in that activity.
 
I.  An individual who acts as a mortgage loan originator as long as the source of prospective financing does not provide mortgage financing or perform other mortgage loan origination activities habitually or repeatedly.
 
J.  An employee of a government entity who acts as a mortgage loan originator pursuant to that employee's official duties as an employee of that government entity.
 
Effective 90 days following adjournment of the 126th Legislature, First Regular Session, unless otherwise indicated.