2021 Tennessee Code
Part 1 - General Provisions
§ 45-13-105. Chapter Definitions

As used in this chapter, unless the context otherwise requires:
Does not include an individual engaged solely as a loan processor or underwriter except as otherwise provided in § 45-13-301(d);
Does not include a person or entity that only performs real estate brokerage activities and is licensed or registered in accordance with Tennessee law, unless the person or entity is compensated by a mortgage lender, mortgage loan broker, or other mortgage loan originator or by any agent of the mortgage lender, mortgage loan broker or other mortgage loan originator; and
Does not include a person or entity solely involved in extensions of credit relating to timeshare plans, as defined in 11 U.S.C. § 101(53D);
For purposes of subdivision (16)(A), “real estate brokerage activities” means any activity that involves offering or providing real estate brokerage services to the public, including:
Acting as a real estate agent or real estate broker for a buyer, seller, lessor or lessee of real property;
Bringing together parties interested in the sale, purchase, lease, rental or exchange of real property;
Negotiating, on behalf of any party, any portion of a contract relating to the sale, purchase, lease, rental or exchange of real property, other than in connection with providing financing with respect to the transaction;
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
Offering to engage in any activity, or act in any capacity, described in subdivision (16)(B)(i), (16)(B)(ii), (16)(B)(iii) or (16)(B)(iv);
“Mortgage loan servicer” means any person who, in the regular course of business, assumes responsibility for servicing and accepting payments for a residential mortgage loan;
“Mortgagor” means any person who grants a mortgage, deed of trust or other equivalent consensual security interest pursuant to a residential mortgage loan transaction;
“Nationwide Mortgage Licensing System and Registry” means a mortgage licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for the licensing and registration of licensed mortgage loan originators;
“Nontraditional mortgage product” means any mortgage product other than a thirty-year fixed rate residential mortgage loan;
“Origination services” means the activities of a mortgage loan originator performed with regard to a residential mortgage loan;
“Person” means an individual, sole proprietorship, corporation, limited liability company, partnership, trust, association or any other legal entity, however organized;
“Registered mortgage loan originator” means any individual who:
Meets the definition of mortgage loan originator and is an employee of:
A depository institution;
A subsidiary that is:
Owned and controlled by a depository institution; and
Regulated by a federal banking agency; or
An institution regulated by the farm credit administration; and
Is registered with, and maintains a unique identifier through, the Nationwide Mortgage Licensing System and Registry;
“Registrant” has the same meaning as defined in § 45-5-102 of the Industrial Loan and Thrift Companies Act, compiled in chapter 5 of this title;
“Residential mortgage loan” means any loan, including an extension of credit, 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, as defined in § 103(v) of the federal Truth in Lending Act (15 U.S.C. § 1602(v)), or residential real estate upon which is constructed or intended to be constructed a dwelling, as so defined;
“Residential real estate” means any real property located in this state, upon which is constructed or intended to be constructed a dwelling; and
“Unique identifier” means a number or other identifier assigned by protocols established by the Nationwide Mortgage Licensing System and Registry.

Structure 2021 Tennessee Code