Exempt institutions and excluded and partially exempt transactions.

CFR · 2024-01-01 · US · Title 12

(a) (2) Any state, state-chartered or state-licensed financial institution, or association of such institutions, may apply to the Bureau for an exemption under paragraph (a) of this section. (3) An institution that is exempt under paragraph (a) of this section shall use the disclosure form required by its state law and shall submit the data required by that law to its state supervisory agency for purposes of aggregation. (b) (c) (1) A closed-end mortgage loan or open-end line of credit originated or purchased by a financial institution acting in a fiduciary capacity; (2) A closed-end mortgage loan or open-end line of credit secured by a lien on unimproved land; (3) Temporary financing; (4) The purchase of an interest in a pool of closed-end mortgage loans or open-end lines of credit; (5) The purchase solely of the right to service closed-end mortgage loans or open-end lines of credit; (6) The purchase of closed-end mortgage loans or open-end lines of credit as part of a merger or acquisition, or as part of the acquisition of all of the assets and liabilities of a branch office as defined in § 1003.2(c); (7) A closed-end mortgage loan or open-end line of credit, or an application for a closed-end mortgage loan or open-end line of credit, for which the total dollar amount is less than $500; (8) The purchase of a partial interest in a closed-end mortgage loan or open-end line of credit; (9) A closed-end mortgage loan or open-end line of credit used primarily for agricultural pur

official document · source cfr-2024 · id 12:§ 1003.3