(a)As used in this part:
(i)Repealed By Laws 2013, Ch. 27, § 2.
(ii)"Clerical or support duties" means:
(A)The receipt, collection, distribution and
analysis of information common for the processing or
underwriting of a residential mortgage loan; and
(B)Communicating with a consumer to obtain the
information necessary for the processing or underwriting of a
loan, to the extent that such communication does not include
offering or negotiating loan rates or terms, or counseling
consumers about residential mortgage loan rates or terms;
(iii)"Depository institution" means an organization
as defined in 12 U.S.C. 1813 of the Federal Deposit Insurance
Act and includes any credit union; (iv)"Dwelling" means a residential structure that
contains one (1) to four (4) units, whether or not that
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(a) As used in this part:
(i) Repealed By Laws 2013, Ch. 27, § 2.
(ii) "Clerical or support duties" means:
(A) The receipt, collection, distribution and
analysis of information common for the processing or
underwriting of a residential mortgage loan; and
(B) Communicating with a consumer to obtain the
information necessary for the processing or underwriting of a
loan, to the extent that such communication does not include
offering or negotiating loan rates or terms, or counseling
consumers about residential mortgage loan rates or terms;
(iii) "Depository institution" means an organization
as defined in 12 U.S.C. 1813 of the Federal Deposit Insurance
Act and includes any credit union;
(iv) "Dwelling" means a residential structure that
contains one (1) to four (4) units, whether or not that
structure is attached to real property. "Dwelling", if it is
used as a residence, includes an individual condominium unit,
cooperative unit, mobile home and trailer;
(v) "Federal banking agency" means the board of
governors of the federal reserve system, the comptroller of the
currency, the national credit union administration or the
federal deposit insurance corporation;
(vi) "Immediate family member" means a spouse, child,
sibling, parent, grandparent, grandchild, stepparent, stepchild,
stepsibling and any adoptive relationship included in this
paragraph;
(vii) "Individual" means a natural person;
(viii) "Loan processor or underwriter" means an
individual who performs clerical or support duties as an
employee at the direction of and subject to the supervision and
instruction of an organization employing or contracting with a
mortgage loan originator, or an exempt person under W.S.
40-14-121;
(ix) "Mortgage loan originator":
(A) Means an individual who for compensation or
gain or in the expectation of compensation or gain:
(I) Takes a residential mortgage loan
application; or
(II) Offers or negotiates the terms of a
residential mortgage loan.
(B) Shall not include any individual engaged
solely as a loan processor or underwriter except as otherwise
described in W.S. 40-14-641(d);
(C) Shall not include a person who only performs
real estate brokerage activities and is licensed or registered
in accordance with Wyoming law, unless the person is compensated
by a lender, a mortgage broker or other mortgage loan originator
or by any agent of such lender, mortgage broker or other
mortgage loan originator; and
(D) Shall not include a person solely involved
in extensions of credit relating to timeshare plans.
(x) "Nontraditional mortgage product" means any
mortgage product other than a thirty (30) year fixed rate
mortgage;
(xi) "Real estate brokerage activity" means any
activity that involves offering or providing real estate
brokerage services to the public, including:
(A) Acting as a real estate agent or real estate
broker for a buyer, seller, lessor or lessee of real property;
(B) Arranging meetings or communicating with any
party interested in the sale, purchase, lease, rental or
exchange of real property;
(C) Negotiating, on behalf of any party, any
portion of a contract relating to the sale, purchase, lease,
rental or exchange of real property, unless the negotiating
relates to the financing of these transactions, which shall then
constitute engaging in the business as a mortgage loan
originator;
(D) Engaging in any activity for which a person
engaged in the activity is required to be registered or licensed
as a real estate agent or real estate broker under any
applicable law; and
(E) Offering to engage in any activity, or act
in any capacity, described in subparagraph (A), (B), (C) or (D)
of this paragraph.
(xii) "Registered mortgage loan originator" means any
individual who:
(A) Is registered with, and maintains a unique
identifier through, the registry; and
(B) Meets the definition of mortgage loan
originator and is an employee of:
(I) An institution regulated by the farm
credit administration;
(II) A depository institution; or
(III) A subsidiary that is:
(1) Owned and controlled by a
depository institution; and
(2) Regulated by a federal banking
agency.
(xiii) Repealed By Laws 2013, Ch. 27, § 2.
(xiv) "Residential mortgage loan" means a consumer
loan as defined in W.S. 40-14-304 or a consumer credit sale as
defined in W.S. 40-14-204, made primarily for personal, family
or household use that is secured by a mortgage, deed of trust or
other equivalent consensual security interest on a dwelling or
residential real estate upon which is constructed or intended to
be constructed a dwelling;
(xv) "Timeshare plan" means as defined in 11 U.S.C. §
101(53D);
(xvi) "Unique identifier" means a number or other
identifier assigned by protocols established by the registry.