WY Stat § 40-14-640 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 14 - Wyoming Uniform Consumer Credit Code|Article 6 - Administration|Section 40-14-640 - Additional Definitions.

40-14-640. Additional definitions.| (a) As used in this part:  (i) Repealed By Laws 2013, Ch. 27, § 2.  (ii) "Clerical or support duties" means:  (A) The receipt, collection, distribution and analysis of information common for the processing or underwriting of a residential mortgage loan; and  (B) Communicating with a consumer to obtain the information necessary for the processing or underwriting of a loan, to the extent that such communication does not include offering or negotiating loan rates or terms, or counseling consumers about residential mortgage loan rates or terms;  (iii) "Depository institution" means an organization as defined in 12 U.S.C. 1813 of the Federal Deposit Insurance Act and includes any credit union;  (iv) "Dwelling" means a residential structure that contains one (1) to four (4) units, whether or not that structure is attached to real property. "Dwelling", if it is used as a residence, includes an individual condominium unit, cooperative unit, mobile home and trailer;  (v) "Federal banking agency" means the board of governors of the federal reserve system, the comptroller of the currency, the national credit union administration or the federal deposit insurance corporation;  (vi) "Immediate family member" means a spouse, child, sibling, parent, grandparent, grandchild, stepparent, stepchild, stepsibling and any adoptive relationship included in this paragraph;  (vii) "Individual" means a natural person;  (viii) "Loan processor or underwriter" means an individual who performs clerical or support duties as an employee at the direction of and subject to the supervision and instruction of an organization employing or contracting with a mortgage loan originator, or an exempt person under W.S. 40-14-121;  (ix) "Mortgage loan originator":  (A) Means an individual who for compensation or gain or in the expectation of compensation or gain:  (I) Takes a residential mortgage loan application; or  (II) Offers or negotiates the terms of a residential mortgage loan.  (B) Shall not include any individual engaged solely as a loan processor or underwriter except as otherwise described in W.S. 40-14-641(d);  (C) Shall not include a person who only performs real estate brokerage activities and is licensed or registered in accordance with Wyoming law, unless the person is compensated by a lender, a mortgage broker or other mortgage loan originator or by any agent of such lender, mortgage broker or other mortgage loan originator; and  (D) Shall not include a person solely involved in extensions of credit relating to timeshare plans.  (x) "Nontraditional mortgage product" means any mortgage product other than a thirty (30) year fixed rate mortgage;  (xi) "Real estate brokerage activity" means any activity that involves offering or providing real estate brokerage services to the public, including:  (A) Acting as a real estate agent or real estate broker for a buyer, seller, lessor or lessee of real property;  (B) Arranging meetings or communicating with any party interested in the sale, purchase, lease, rental or exchange of real property;  (C) Negotiating, on behalf of any party, any portion of a contract relating to the sale, purchase, lease, rental or exchange of real property, unless the negotiating relates to the financing of these transactions, which shall then constitute engaging in the business as a mortgage loan originator;  (D) Engaging in any activity for which a person engaged in the activity is required to be registered or licensed as a real estate agent or real estate broker under any applicable law; and  (E) Offering to engage in any activity, or act in any capacity, described in subparagraph (A), (B), (C) or (D) of this paragraph.  (xii) "Registered mortgage loan originator" means any individual who:  (A) Is registered with, and maintains a unique identifier through, the registry; and  (B) Meets the definition of mortgage loan originator and is an employee of:  (I) An institution regulated by the farm credit administration;  (II) A depository institution; or  (III) A subsidiary that is:  (1) Owned and controlled by a depository institution; and  (2) Regulated by a federal banking agency.  (xiii) Repealed By Laws 2013, Ch. 27, § 2.  (xiv) "Residential mortgage loan" means a consumer loan as defined in W.S. 40-14-304 or a consumer credit sale as defined in W.S. 40-14-204, made primarily for personal, family or household use that is secured by a mortgage, deed of trust or other equivalent consensual security interest on a dwelling or residential real estate upon which is constructed or intended to be constructed a dwelling;  (xv) "Timeshare plan" means as defined in 11 U.S.C. § 101(53D);  (xvi) "Unique identifier" means a number or other identifier assigned by protocols established by the registry.