State of Nebraska: Department of Banking and Finance

Nebraska Department of Banking and Finance; Images from Nebraska banknotes issued in the 1800s.

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Mortgage Banking Exemptions
Certain entities and/or transactions may be exempt from registration or licensing as a mortgage banker in the State of Nebraska. The exemptions are listed in the Mortgage Bankers Registration and Licensing Act. Below is a brief outline of some entities/transactions that do not require a license or registration. This listing is merely a reference. Please see the appropriate state statutes for a full list of exemptions and conditions. Entities exempt: Any financial institution Any registered bank holding company Any insurance company organized under the laws of this state and subject to regulation by the Department of Insurance Individuals exempt: Any person licensed to practice law in this state who is not actively and principally engaged in the business of negotiating mortgage loans when such person renders services in the regular course of his or her practice as an attorney at law Any person licensed in this state as a real estate broker or real estate salesperson who is not actively and principally engaged in the business of negotiating mortgage loans when such person renders services as a real estate broker or real estate salesperson Any individual acting solely as an employee of a mortgage banker licensed or registered pursuant to the act or exempt from the act Any individual acting solely as an agent of a mortgage banker licensed or registered pursuant to the act or exempt from the act if there is a written agency contract between the individual and the licensee which provides that, with respect to the mortgage banking business, the individual acts exclusively for the licensee as an agent Other Exemptions: State statutes designate that a mortgage banker that "directly or indirectly makes, originates, services, negotiates, acquires, sells, arranges for, or offers to make, originate, service, negotiate, acquire, sell, or arrange for ten or more mortgage loans in a calendar year" be licensed. The term "offer" is significant. An offer includes any general public solicitation. Advertising to the general public of Nebraska constitutes an offer to originate ten or more mortgage loans. If you do any advertising whether in print or electronically that can reach Nebraskans, you do not qualify for this exemption. A website that allows Nebraska residents to submit an online mortgage application also constitutes general public solicitation and as such the exemption does not apply. Frequently Asked Questions

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Mortgage Banking Exemptions