45-703. Act; exemptions.
(1) Except as provided in section 45-704, the following shall be exempt from the Residential Mortgage Licensing Act:
(a) Any depository institution or wholly owned subsidiary thereof;
(b) Any registered bank holding company;
(c) Any insurance company that is subject to regulation by the Department of Insurance and is either (i) organized or chartered under the laws of Nebraska or (ii) organized or chartered under the laws of any other state if such insurance company has a place of business in Nebraska;
(d) Any person licensed to practice law in this state in connection with activities that are (i) considered the practice of law by the Supreme Court, (ii) carried out within an attorney-client relationship, and (iii) accomplished by the attorney in compliance with all applicable laws, rules, ethics, and standards;
(e) Any person licensed in this state as a real estate broker or real estate salesperson pursuant to section 81-885.02 who is engaging in real estate brokerage activities unless such 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;
(f) Any registered mortgage loan originator when acting for an entity described in subdivision (24)(a)(i), (ii), or (iii) of section 45-702;
(g) Any sales finance company licensed pursuant to the Nebraska Installment Sales Act if such sales finance company does not engage in mortgage banking business in any capacity other than as a purchaser or servicer of an installment contract, as defined in section 45-335, which is secured by a mobile home or trailer;
(h) Any trust company chartered pursuant to the Nebraska Trust Company Act;
(i) Any wholly owned subsidiary of an organization listed in subdivisions (b) and (c) of this subsection if the listed organization maintains a place of business in Nebraska;
(j) Any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the individual;
(k) Any individual who does not repetitively and habitually engage in the business of a mortgage banker, a mortgage loan originator, or a loan processor or underwriter, either inside or outside of this state, who (i) makes a residential mortgage loan with his or her own funds for his or her own investment, (ii) makes a purchase-money mortgage, or (iii) finances the sale of a dwelling or residential real estate owned by such individual without the intent to resell the residential mortgage loan;
(l) Any employee or independent agent of a mortgage banker licensed or registered pursuant to the Residential Mortgage Licensing Act or exempt from the act if such employee or independent agent does not conduct the activities of a mortgage loan originator or loan processor or underwriter;
(m) The United States of America; the State of Nebraska; any other state, district, territory, commonwealth, or possession of the United States of America; any city, county, or other political subdivision; and any agency or division of any of the foregoing;
(n) The Nebraska Investment Finance Authority;
(o) Any individual who is an employee of an entity described in subdivision (m) or (n) of this subsection and who acts as a mortgage loan originator or loan processor or underwriter only pursuant to his or her official duties as an employee of such entity;
(p) A bona fide nonprofit organization which has received a certificate of exemption pursuant to section 45-703.01; and
(q) Any employee of a bona fide nonprofit organization which has received a certificate of exemption pursuant to section 45-703.01 if such employee acts as a mortgage loan originator or mortgage loan processor or underwriter (i) only with respect to his or her work duties for the nonprofit organization and (ii) only with respect to residential mortgage loans with terms that are favorable to the borrower.
(2) It shall not be necessary to negate any of the exemptions provided in this section in any complaint, information, indictment, or other writ or proceedings brought under the Residential Mortgage Licensing Act, and the burden of establishing the right to any exemption shall be upon the person claiming the benefit of such exemption.
Source
Cross References
Structure Nebraska Revised Statutes
Chapter 45 - Interest, Loans, and Debt
45-101.03 - General interest rate; maximum; variable rate authorized; conditions.
45-101.04 - General interest rate; maximum; when not applicable.
45-101.05 - Mortgage loan; escrow account; how established and maintained.
45-101.06 - Escrow accounts; not required.
45-101.07 - Violations; penalty.
45-102 - Interest; legal rate; exception.
45-103 - Interest; judgments; decrees; rate; exceptions.
45-103.01 - Postjudgment interest; accrual; when.
45-103.02 - Prejudgment interest; accrual; when; conditions.
45-103.03 - Interest; how computed.
45-103.04 - Prejudgment interest; exceptions.
45-104 - Interest; other contract obligations.
45-104.01 - Interest; political subdivisions; delinquent taxes; special assessments.
45-104.02 - Interest; State of Nebraska; delinquent taxes; special assessments; credits or refunds.
45-106 - Interest; warrants or orders.
45-107 - Interest; effect on purchase of certain lands.
45-108 - Interest; rate; when calculated by the year.
45-109 - Contracts for payment of money or indebtedness; when usurious.
45-110 - Usurious contracts; limit of recovery.
45-111 - Usury; civil proceedings; testimony of lender compellable.
45-112 - Usury; relief; tender of principal unnecessary.
45-113 - Usury; witness; testimony not evidence in criminal proceeding, when.
45-114 - Transferred to section 45-1002.
45-115 - Transferred to section 45-1003.
45-116 - Transferred to section 45-1004.
45-117 - Transferred to section 45-1005.
45-118 - Transferred to section 45-1006.
45-119 - Transferred to section 45-1007.
45-120 - Transferred to section 45-1008.
45-121 - Transferred to section 45-1009.
45-122 - Transferred to section 45-1010.
45-123 - Transferred to section 45-1011.
45-124 - Transferred to section 45-1012.
45-126 - Transferred to section 45-1013.
45-127 - Transferred to section 45-1014.
45-128 - Transferred to section 45-1015.
45-129 - Transferred to section 45-1016.
45-130 - Transferred to section 45-1017.
45-131 - Transferred to section 45-1018.
45-132 - Transferred to section 45-1019.
45-133 - Transferred to section 45-1020.
45-134 - Transferred to section 45-1021.
45-135 - Transferred to section 45-1022.
45-136 - Transferred to section 45-1023.
45-137 - Transferred to section 45-1024.
45-138 - Transferred to section 45-1025.
45-139 - Transferred to section 45-1026.
45-140 - Transferred to section 45-1027.
45-142 - Transferred to section 45-1028.
45-143 - Transferred to section 45-1029.
45-144 - Transferred to section 45-1030.
45-145 - Transferred to section 45-1031.
45-148 - Transferred to section 45-1034.
45-149 - Transferred to section 45-1035.
45-150 - Transferred to section 45-1036.
45-153 - Transferred to section 45-1037.
45-154 - Transferred to section 45-1038.
45-155 - Transferred to section 45-1039.
45-156 - Transferred to section 45-1040.
45-157 - Transferred to section 45-1041.
45-158 - Transferred to section 45-1042.
45-173 - Transferred to section 45-1043.
45-174 - Transferred to section 45-1044.
45-175 - Transferred to section 45-1045.
45-176 - Transferred to section 45-1046.
45-177 - Transferred to section 45-1047.
45-178 - Transferred to section 45-1048.
45-179 - Transferred to section 45-1049.
45-180 - Transferred to section 45-1050.
45-181 - Transferred to section 45-1051.
45-182 - Transferred to section 45-1052.
45-183 - Transferred to section 45-1053.
45-184 - Transferred to section 45-1054.
45-185 - Transferred to section 45-1055.
45-186 - Transferred to section 45-1056.
45-187 - Transferred to section 45-1057.
45-188 - Transferred to section 45-1058.
45-189 - Loan brokers; legislative findings.
45-191 - Loan brokers; prohibited acts.
45-191.01 - Loan brokerage agreement; written disclosure statement; requirements.
45-191.02 - Loan brokers; filings with department required; filing fees.
45-191.03 - Prohibited acts; violations; penalties.
45-191.04 - Loan brokerage agreement; requirements; right to cancel.
45-191.05 - Waiver of sections; attempt; prohibited.
45-191.06 - Department; adopt rules and regulations.
45-191.07 - Violation of loan brokerage agreement by loan broker; effect.
45-191.08 - Director; enforcement powers.
45-194 - Transferred to section 45-1059.
45-195 - Transferred to section 45-1060.
45-196 - Transferred to section 45-1061.
45-198 - Transferred to section 45-1062.
45-199 - Transferred to section 45-1063.
45-1,100 - Transferred to section 45-1064.
45-1,101 - Transferred to section 45-1065.
45-1,102 - Transferred to section 45-1066.
45-1,103 - Transferred to section 45-1067.
45-1,104 - Federal interest rate limitations; rejected by state.
45-1,106 - Consumer credit transaction; default; notice required.
45-1,107 - Consumer credit transaction; default; consumer's right to cure.
45-1,109 - Consumer credit transactions; procedures; when applicable.
45-1,110 - Consumer credit default procedures; not applicable to certain licensees.
45-1,111 - Forced sale; disposition of certain proceeds.
45-1,113 - Action or defense based on credit agreement; requirements.
45-1,114 - Implied credit agreement; limitations.
45-1,115 - Sections; applicability.
45-1,116 - Transferred to section 45-1068.
45-205 - Agreements; requirements; fees and delinquency charges authorized.
45-206 - Monthly statement by seller; contents; payment in full; requirements.
45-207 - Time-price differential; rate; maximum.
45-333 - Transferred to section 45-408.
45-336 - Installment contract; requirements.
45-337 - Insurance; policy; cancellation; premium refund; fee.
45-338 - Installment contract; time-price differential; rate; maximum; origination fee.
45-339 - Subsequent purchases; consolidate with previous contract; requirements.
45-340 - Contracts negotiated by mail; requirements.
45-341 - Delinquency charges; limitation; fee.
45-342 - Prepayment; rebate; how computed.
45-343 - Failure to obtain license; penalty.
45-344 - Excess charges; penalty.
45-345 - License; requirement; exception.
45-346 - License; application; contents; issuance; bond; fee; term; director; duties.
45-346.01 - Licensee; move of main office; notice to director; maintain minimum net worth; bond.
45-348 - License; renewal; licensee; duties; fee; voluntary surrender of license.
45-350 - License; denial of renewal; suspension; revocation; appeal.
45-351 - Licensee; investigation and inspection; director; appoint examiners; charges; fines; lien.
45-351.01 - Holder of contract; extension or deferment authorized; fee.
45-352 - Rules and regulations; adopt.
45-353 - Violations; enforcement; receiver; appointment; powers; duties.
45-355 - Nationwide Mortgage Licensing System and Registry; information sharing; director; powers.
45-604 - Board; adopt rules and regulations.
45-605 - Board; duties; application for license; filing; issuance; denial; appeal.
45-606 - License; application; fees; financial statement; form.
45-607 - License; qualifications of licensee.
45-608 - Licensee; bond; conditions.
45-609 - License; form; display.
45-610 - Licensee; employees; solicitor's certificates; form.
45-611 - Licenses; certificates; expiration; renewal; application; time.
45-612 - Licensee; solicitor; violation; conviction; revocation; hearing; order.
45-613 - Licensee; solicitor; complaint; citation; notice; hearing.
45-614 - Licensee; solicitor; citation; power to issue subpoenas; depositions.
45-615 - Licensee; solicitor; citation; hearing; board; findings; powers.
45-616 - License; solicitor's certificate; appeals; procedure.
45-617 - Licensee; solicitor's certificate; appeal; effect.
45-619 - Licensee; board; require financial statement; confidential.
45-620 - License; certificates; fees.
45-622 - Licensee; solicitor; prohibited from practice of law.
45-623 - Collection of public debts; contracts authorized; requirements.
45-707 - Transferred to section 45-742.
45-708 - Transferred to section 45-747.
45-709 - Transferred to section 45-724.
45-710 - Transferred to section 45-741.
45-711 - Transferred to section 45-737.
45-712 - Transferred to section 45-738.
45-713 - Transferred to section 45-739.
45-714 - Transferred to section 45-740.
45-715 - Transferred to section 45-750.
45-716 - Transferred to section 45-751.
45-717 - Transferred to section 45-744.
45-717.01 - Transferred to section 45-743.
45-717.02 - Transferred to section 45-746.
45-718 - Transferred to section 45-745.
45-719 - Transferred to section 45-752.
45-720 - Transferred to section 45-753.
45-721 - Transferred to section 45-754.
45-722 - Transferred to section 45-725.
45-723 - Transferred to section 45-748.
45-724 - Surety bond; requirements.
45-725 - Acquisition of control of mortgage banking business; procedure; fee; disapproval; hearing.
45-728 - License; application; form; fee; use of nationwide registry.
45-730 - Prelicensing education requirements; course review and approval; relicensure requirements.
45-731 - Written test requirement; subject areas.
45-732 - License; term; renewal; minimum standards for renewal; fee; denial; appeal.
45-734 - Mortgage loan originator license; inactive status; duration; renewal; reactivation.
45-736 - Unique identifier; use.
45-737 - Mortgage banker; licensee; duties.
45-737.01 - Mortgage loan originator; licensee; duties.
45-738 - Licensee; failure to deliver abstract of title.
45-739 - Transfer of servicing rights; duties.
45-740 - Prohibited acts; violation; penalty; civil liability.
45-743 - Violations; administrative fine; costs; lien.
45-744 - Cease and desist orders; department; powers; judicial review; violation; penalty.
45-747 - Prohibited acts; penalty.
45-750 - Department; duties; rules and regulations.
45-751 - Money collected; disposition.
45-752 - Act; liberal construction.
45-753 - Personal jurisdiction; when.
45-754 - Loans subject to act.
45-806 - Registration statement; contents; requirements; fee.
45-807 - Written statement to buyer; contents; credit services organization; duties.
45-808 - Contract; requirements; cancellation; procedure; notice; breach; effect.
45-809 - Waiver of rights; void.
45-811 - Violation; injunction.
45-812 - Violation; deceptive trade practice.
45-813 - Statute of limitations.
45-903 - Act; not applicable to financial institutions.
45-904 - License required; void transaction; effect.
45-905 - Application for license; form; contents; criminal history record information check.
45-906 - Application; fees; bond.
45-907 - Application; notice of filing; publication; hearing; investigation; costs.
45-908 - License; issuance; conditions.
45-909 - Application for license; timely action of director required; appeal.
45-910 - License; posting; renewal; fees.
45-911 - Surrender of license; effect.
45-912 - Licensee; duty to inform director; when.
45-913 - License; not transferable or assignable.
45-914 - Change in control of licensee; approval required.
45-915.01 - Licensee; books and records.
45-916 - Operating with other business; conditions.
45-917 - Licensee; written notice; contents; fees, charges, and penalties; posting required.
45-918 - Annual percentage rate; violation; effect; fee; limitation.
45-918.01 - Returned check; collection; returned check charge; court costs; attorney's fees.
45-918.02 - Prepayment; how treated.
45-918.03 - Rescission; redemption.
45-918.04 - Licensee; payment options; electronic payment with authorization.
45-919.01 - Extended payment plan; request; terms; default.
45-920 - Director; examination of licensee; powers; costs.
45-921 - Alleged violations; director; powers and duties.
45-922 - Licensee; disciplinary actions; failure to renew.
45-923 - Cease and desist order; procedure; appeal.
45-924 - Injunction, restraining order, or writ of mandamus.
45-926 - Operating without a license; penalty.
45-927 - Fees, charges, costs, and fines; distribution.
45-928 - Personal jurisdiction over licensee.
45-929 - Director; rules and regulations; additional powers.
45-930 - Financial Literacy Cash Fund; created; use; investment.
45-931 - Licensees; annual report; contents; department; duties; report.
45-1002 - Terms, defined; act; applicability.
45-1003 - Installment loans; financial institution ineligible.
45-1005 - Installment loans; license; application; fee.
45-1006 - Installment loans; application hearing; protest; procedure.
45-1007 - Installment loans; license; bond.
45-1008 - License; issuance; requirements; term.
45-1010 - Installment loans; licenses; limitations as to business and persons.
45-1011 - Installment loans; place of business; separate office required; exceptions; enforcement.
45-1012 - Licensee; service of process.
45-1014 - Installment loans; fees; disposition.
45-1015 - Installment loans; doing business without license; penalty.
45-1016 - Installment loans; rules and regulations; power of Department of Banking and Finance.
45-1017 - Licensees; business, records, and accounts; inspection; expenses; fines; lien.
45-1019 - Cease and desist order; hearing; judicial review; enforcement; violation; penalty.
45-1020 - Misleading advertising prohibited; enforcement.
45-1021 - Installment loans; interest, defined.
45-1022 - Installment loans; payment in advance; application of payments.
45-1023 - Installment loans; false statement to secure; penalty.
45-1025 - Installment loans; additional charges authorized; loan period; violation; effect.
45-1027 - Installment loans; insurance procured through licensee; statement.
45-1028 - Installment loans; assignments of wages or security agreement in blank; prohibited.
45-1029 - Installment loans; power of attorney and instruments with blanks prohibited.
45-1030 - Installment loans; assignment of wages; consent of spouse necessary.
45-1031 - Installment loans; statement to borrower; contents.
45-1032 - Surrender of license; effect.
45-1033 - License; administrative fine; disciplinary actions; failure to renew.
45-1034 - License; revocation; new license; court order required.
45-1035 - License; revocation; record of proceedings.
45-1037 - Violations; penalty.
45-1038 - Licensees; loan provisions; violations; effect.
45-1039 - Licensees; violations; effect.
45-1040 - Repayment of loan; licensee; duties.
45-1041 - Installment loans; enforcement.
45-1042 - Loans made outside of state; enforcement in this state.
45-1043 - Borrower's obligation; licensee; contacts limitation.
45-1044 - Borrower's obligation; contact; limitation; waiver.
45-1045 - Licensee; contacts permitted without borrower's consent.
45-1046 - Borrower; default; notice to licensee; effect.
45-1047 - Licensee; actions; permitted; prohibited.
45-1048 - Borrower; right to action; licensee; judgment; effect.
45-1049 - Borrower; default; agreement; extent of enforceability.
45-1050 - Borrower; loan; default; licensee; notice; contents.
45-1051 - Borrower; loan; default; right to cure; procedure.
45-1052 - Borrower; loan; default; licensee; possession of collateral; restrictions.
45-1053 - Loan; third-party obligation; when.
45-1054 - Borrower; deficiency; liability; how treated.
45-1055 - Writing evidencing borrower's obligation; form; copies; fee; licensee; duties.
45-1056 - Licensee; discrimination prohibited.
45-1057 - Licensee; loan; former debt; how treated.
45-1058 - Violation; loan transaction; licensee; liability.
45-1059 - Preauthorized loans; definitions; where found.
45-1060 - Billing cycle, defined.
45-1061 - Preauthorized loan, defined.
45-1062 - Preauthorized loans; charges authorized; computation.
45-1063 - Preauthorized loan; repayment; requirements.
45-1064 - Preauthorized loans; additional fees, costs, and expenses authorized; restrictions.
45-1065 - Preauthorized loans; security interest authorized.
45-1066 - Preauthorized loans; sections not applicable.
45-1067 - Preauthorized loans; department; powers.
45-1069 - Administrative fine; procedure; lien.
45-1102 - Purpose of act; exclusions from act; exemption from insurance requirements.
45-1105 - Guaranteed asset protection waiver; disclosures required.
45-1107 - Modification of guaranteed asset protection waiver; limitations.
45-1203 - Contractor; payment; payment request; subcontractor; payment; retainage; payment.
45-1204 - Withholdings; authorized.
45-1205 - Delay in payment; additional interest payment.
45-1206 - Other remedies available.
45-1207 - Residential real property; applicability of act.
45-1208 - Applicability to contracts entered into on or after October 1, 2010.
45-1209 - Contract provisions; void.
45-1211 - Violation of act; action for recovery; attorney's fees and costs.