Sec. 05.19.01.02. Application

Latest version.

A. This chapter applies to any lender that makes a mortgage loan secured by owneroccupied residential real property located in the State.

B. This chapter does not apply to:

(1) Any mortgage loan in which the initial application was completed prior to January 1, 2011;

(2) A secondary mortgage loan;

(3) An openend or revolving home equity line of credit;

(4) A construction loan;

(5) An individual who takes back a deferred purchase money mortgage in connection with the sale of residential real property owned by, and titled in the name of, the individual; or

(6) An individual who makes a mortgage loan to a borrower who is the individuals spouse, child, childs spouse, parent, sibling, grandparent, grandchild, or grandchilds spouse.

                    
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