MORTGAGE BROKERS: 10 OR FEWER LOANS PER YEAR EXEMPTION
DISCLAIMER: This chart does not constitute legal advice and no one should rely upon the information in this chart. Call the state agency regulating each of these states and confirm that the Exemption exists and whether any type of permission or registration is also required to activate the Exemption. NOTE: If a state is not listed there is a good possibility it was left out because no mortgage broker license is required to do business in that state.
 AR  6? Any person (defined as an individual, corporation, partnership, association, joint-stock company, trust [where the interests of the beneficiaries are evidenced by a security], unincorporated organization, government or political subdivision of a government) that obtains, makes, purchases, places, sells, exchanges or services, in the aggregate, fewer than six loans secured by liens or mortgages on real property located in Arkansas within any ten-year period. [The offer to make, sell, exchange, place, obtain or service a loan is considered a transaction in its own right (Ark. Secs. Dept. Memo dated 3/28/97 addressed to all registered or exempt mortgage loan companies and loan brokers).]
 AZ  0  
 CA  0  
 CT  0
 DC  0
 DE  5 A person who acts as a mortgage loan broker with respect to five or fewer mortgages within any 12-month
period.
 FL  0  
 GA  0
 HI  0  
 IA  3 A broker arranging or negotiating less than four mortgage loans or commitments in a calendar year.
 ID  0  
 IL  0  
 IN  0  
 KS  0  
 KY  0
 LA  0  
 MD  1 Any person who makes three or fewer mortgage loans per calendar year and brokers no more than one mortgage loan per calendar year.

MA
  4 A person acting as a mortgage broker fewer than five times within any period of 12 consecutive
months.

ME 
  5? Supervised Lender License Exemption- THIS MAY OR MAY NOT APPLY TO MORTGAGE BROKERS IN ME- CALL STATE TO CONFIRM--A person that made 5 or less mortgage loans in the preceding calender year unless:-The person originates 2 or more high-rate, high-fee mortgages in a 12-month period; or-The person originates one or more high-rate, high-fee mortgages through a credit services organization in a 12-month period.-"High-rate, high-fee mortgage" means a consumer credit transaction that is secured by the consumer's principal dwelling, other than a residential mortgage transaction, a reverse mortgage transaction or a transaction under an open-end credit plan, if:-The annual percentage rate at consummation of the transaction exceeds by more than 10 percentage points the yield on treasury securities having comparable periods of maturity on the 15th day of the month immediately preceding the month in which the application for the extension of credit is received by the creditor; or-The total of the points and fees payable by the consumer at or before closing exceeds the greater of 8% of the total loan amount or $400.
 MI  0
 MN  0
 MO  0  

MS 
  0  
 ND  0  
 NE  0  
 NH  0  
 NJ  0

NM 
  0  
 NV  0  
 NY  0 Person making less than five or more mortgage loans in a year (does not apply to brokering loans).
 NC  0
 OH  0  
 OK  0  
 OR  0  
 PA  0 Person who originates or negotiates less than three mortgages a year in Pennsylvania unless he is otherwise deemed to be engaged in the first mortgage loan business.
 RI  0 Any person who makes less than six loans in Rhode Island in any consecutive 12-month period (but no
similar exemption for brokers).
 SC  0  
 SD  0  
 TN  0
 TX  0  
 UT  0  
 VA  0
 VT  0  
 WA  0  
 WI  0