MN SF934

Adds exemption from residential mortgage originator licensing requirements for manufactured home dealers and salespersons who meet specific conditions, including not receiving excess compensation beyond comparable cash transactions.

Requires manufactured home dealers and salespersons to disclose in writing any corporate affiliations with lenders and provide names of at least one unaffiliated lender to borrowers.

Prohibits exempt manufactured home dealers and salespersons from directly negotiating loan terms, including rates, fees, and other costs with borrowers or lenders.

Amends Minnesota Statutes section 58A.03, subdivision 2 to add parallel exemptions for employees of manufactured home dealers and salespersons under the same disclosure and compensation restrictions.