HI HB1017

Restores exemptions from mortgage loan originator licensing requirements for individuals offering or negotiating residential mortgage loans with or on behalf of immediate family members.

Exempts individuals from licensing when offering or negotiating residential mortgage loans secured by their own residence (including vacation homes) or inherited property, provided they do not provide such financing more than three times per calendar year.

Renumbers existing exemptions in Hawaii Revised Statutes Section 454F-2 to accommodate the two new exemptions for family member transactions and owner-occupied property sales.

Effective date: January 1, 2112.