Exemptions.

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  • (1) a bona fide nonprofit corporation that grants a first mortgage loan to promote home ownership for low and moderate income borrowers;
  • (2) an agency of the following that grants a first mortgage loan under a specific federal or state law:
    • (a) the federal government;
    • (b) a state, county, or municipal government; or
    • (c) a quasi-governmental agency;
  • (3) a casual lender that makes less than five mortgage loans a year; or
  • (4) a mortgage loan of two years or less.




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