{"data":{"id":"us-ky/krs-286.8-290","jurisdiction":"us-ky","citation":"KRS 286.8-290","heading":"Certain mortgage loan originators exempt from specified requirements","body":"of subtitle -- Commissioner's access to records.\n(1) The following mortgage loan originators shall be subject to subsections (2) and (3)\nof this section, but shall be exempt from  the registration and regulatory\nrequirements of KRS 286.8-255:\n(a) An individual employed by the following institutions and acting on behalf of\nsuch institutions:\n1. A depository institution;\n2. A subsidiary that is:\na. Owned and controlled by a depository institution; and\nb. Regulated by the Board of Governors of the Federal Reserve\nSystem, the Comptroller of the Currency, the Director of the\nOffice of Thrift Supervision, the National Credit Union\nAdministration, or the Federal Deposit Insurance Corporation; or\n3. An institution regulated by the Farm Credit Administration;\n(b) A licensed attorney who negotiates the terms of a mortgage loan on behalf of a\nclient as an ancillary matter to the attorney's representation of the client,\nunless the attorney is co mpensated by a mortgage loan company, mortgage\nloan broker, or other mortgage loan originator, or by an agent of such\ncompany, broker, or other originator;\n(c) A natural person who originates a mortgage loan on behalf of an immediate\nfamily member of the natural person unless the natural person is compensated\nin connection with that transaction by a mortgage loan company, mortgage\nloan broker, or other mortgage loan originator, or by an agent of such\ncompany, broker, or other originator;\n(d) A natural perso n who originates a mortgage loan secured by a dwelling that\nserved as the natural person's residence unless the natural person is\ncompensated in connection with that transaction by a mortgage loan company,\nmortgage loan broker, or other mortgage loan origi nator, or by an agent of\nsuch company, broker, or other originator;\n(e) Any natural person, including all entities owned in whole or part by that\nnatural person, that make no more than four (4) loans each calendar year; and\n(f) A person who originates a mortgage loan secured by a dwelling; and\n1. Who is exempted by an order of the commissioner; and\n2. Whose exemption would not be contrary to the registration requirements\nof the S.A.F.E. Mortgage Licensing Act, Pub. L. No. 110 -289, and\namendments thereto.\n(2) Notwithstanding any provisions to the contrary set forth in this subtitle, no\nmortgage loan originator shall impede the commissioner or an examiner of the\ncommissioner from interviewing any person regarding any potential violations of\nthis subtitle.\n(3) Notwithstanding any provisions to the contrary set forth in this subtitle, every\nmortgage loan originator shall make available and grant access to the commissioner\nor an examiner of the commissioner the records in the originator's or processor's\npossession or control that are subject to the provisions of this subtitle.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=45384","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:14Z","sha256":"3f60d8070c196ad264023463ae53960be62e3be30d61052b9af6262fdbd50176","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.8-285","next":"us-ky/krs-286.8-295"},"notice":"GroundRules: Original legal text. Not legal advice."}