SEC. 2. MODIFICATIONS TO DEFINITIONS. 
(a) 
LOAN
ORIGINATOR
DEFINITION.—Section 
1503(4) of the S.A.F.E. Mortgage Licensing Act of 2008 
(12 U.S.C. 5102(4)) is amended— 
(1) in subparagraph (A)— 
(A) in clause (iii), by striking ‘‘and’’ at the 
end; 
(B) in clause (iv), by striking the period 
and inserting ‘‘; and’’; and 
(C) by adding at the end the following new 
clause: 
‘‘(v) does not include an individual or 
entity that is a seller of manufactured 
homes unless such individual or entity is 
engaged in the business of a loan origi-
nator or receives compensation or gain for 
engaging in activities described under 
clause (i) that is in excess of any com-
pensation or gain received in a comparable 
cash transaction.’’; and 
(2) by adding at the end the following: 
‘‘(E) ENGAGED IN THE BUSINESS OF A 
LOAN ORIGINATOR.—For purposes of this para-
graph, the term ‘engaged in the business of a 
loan originator’ means to perform loan origi-
nator activities described under subparagraph 
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(A)(i) as a regular course of trade or business 
in exchange for compensation or gain paid sole-
ly for engaging in the sale or distribution of 
residential mortgage loans.’’. 
(b) HIGH-COST MORTGAGE DEFINITION.—Section 
103(bb)(1)(A)(i) of the Truth in Lending Act (15 U.S.C. 
1602(bb)(1)(A)(i)), as added by section 1431 of the Dodd- 
Frank Wall Street Reform and Consumer Protection Act, 
is amended— 
(1) in subclause (I)— 
(A) by striking ‘‘(8.5 percentage points, if 
the dwelling is personal property and the trans-
action is for less than $50,000)’’; and 
(B) by striking ‘‘or’’ at the end; 
(2) in subclause (II), by adding ‘‘or’’ at the 
end; and 
(3) by adding at the end the following: 
‘‘(III) by a first mortgage on a 
consumer’s principal dwelling that is 
considered personal property (or is a 
consumer credit transaction that does 
not include the purchase of real prop-
erty on which a dwelling is to be 
placed), the annual percentage rate at 
consummation of the transaction will 
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exceed the average prime offer rate, 
as defined in section 129C(b)(2)(B), 
for a comparable transaction, by more 
than— 
‘‘(aa) 8.5 percentage points, 
in the case of a transaction in an 
amount of $50,000 or more, but 
less than $75,000 (as such 
amounts are adjusted by the Bu-
reau to reflect the change in the 
Consumer Price index); 
‘‘(bb) 
10.5 
percentage 
points, in the case of a trans-
action in an amount of $30,000 
or more, but less than $50,000 
(as such amounts are adjusted by 
the Bureau to reflect the change 
in the Consumer Price index); or 
‘‘(cc) 
such 
percentage 
points, above those described 
under item (bb), as the Bureau 
shall prescribe, in the case of a 
transaction that is in an amount 
of $30,000 or less (as such 
amount is adjusted by the Bu-
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reau to reflect the change in the 
Consumer Price Index);’’. 
Æ 
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