WILLIAM DONALD SCHAEFER, Governor Ch. 476

(II)  THE FEDERAL NATIONAL MORTGAGE ASSOCIATION;
AND

(III)  THE GOVERNMENT NATIONAL MORTGAGE
ASSOCIATION;

(4)  ANY PERSON WHO MAKES OR BROKERS 3 OR FEWER
MORTGAGE LOANS PER CALENDAR YEAR;

(5)  ANY PERSON WHO TAKES BACK A DEFERRED PURCHASE
MONEY MORTGAGE IN CONNECTION WITH THE SALE OF:

(I)  RESIDENTIAL REAL PROPERTY OWNED BY, AND
TITLED IN THE NAME OF, THAT PERSON; OR

(II)  A NEW RESIDENTIAL DWELLING THAT THE PERSON
BUILT;

(6)  A NONPROFIT CHARITABLE ORGANIZATION REGISTERED
WITH THE MARYLAND SECRETARY OF STATE OR A NONPROFIT RELIGIOUS
ORGANIZATION;

(7)  AN EMPLOYER MAKING A MORTGAGE LOAN TO AN
EMPLOYEE;

(8)  A PERSON MAKING A MORTGAGE LOAN TO A BORROWER WHO
IS THE PERSON'S SPOUSE, CHILD, CHILD'S SPOUSE, PARENT, SIBLING,
GRANDPARENT, GRANDCHILD, OR GRANDCHILD'S SPOUSE; OR

(9)  A REAL ESTATE BROKER WHO:

(I)  IS LICENSED IN THE STATE; AND

(II)  MAKES A MORTGAGE LOAN PROVIDING A
REPAYMENT SCHEDULE OF 1 YEAR 2 YEARS OR LESS TO ASSIST THE
BORROWER IN THE PURCHASE OR SALE OF A RESIDENTIAL REAL PROPERTY
THROUGH THE BROKER . ; OR

(10)  A HOME IMPROVEMENT CONTRACTOR LICENSED UNDER
ARTICLE 56 OF THE CODE WHO ASSIGNS A MORTGAGE LOAN WITHOUT
RECOURSE WITHIN 30 DAYS AFTER COMPLETION OF THE CONTRACT TO A
PERSON LICENSED UNDER THIS SUBTITLE OR TO AN INSTITUTION THAT IS
EXEMPT FROM THIS SUBTITLE UNDER PARAGRAPHS (1) AND (2) OF THIS
SUBSECTION.

(B) THE EXEMPTIONS PROVIDED     IN SUBSECTION (A) OF THIS

SECTION DO NOT APPLY TO ANY PERSON  WHO HAS BEEN DENIED A LICENSE

TO ENGAGE IN BUSINESS AS A MORTGAGE  LENDER OR REAL ESTATE BROKER

OR WHOSE LICENSE TO ENGAGE IN SUCH  ACTIVITIES HAS BEEN SUSPENDED

OR REVOKED WITHIN THE 3 IMMEDIATELY   PRECEDING CALENDAR YEARS.

11-503.

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