124 STAT. 2138 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(iii) is with respect to a sale for which the seller determines in good faith and documents that the buyer has a reasonable ability to repay the loan; ‘‘(iv) has a fixed rate or an adjustable rate that is adjustable after 5 or more years, subject to reason- able annual and lifetime limitations on interest rate increases; and ‘‘(v) meets any other criteria the Board may pre- scribe; ‘‘(F) does not include the creditor (except the creditor in a table-funded transaction) under paragraph (1), (2), or (4) of section 129B(c); and ‘‘(G) does not include a servicer or servicer employees, agents and contractors, including but not limited to those who offer or negotiate terms of a residential mortgage loan for purposes of renegotiating, modifying, replacing and subordinating principal of existing mortgages where borrowers are behind in their payments, in default or have a reasonable likelihood of being in default or falling behind. ‘‘(3) NATIONWIDE MORTGAGE LICENSING SYSTEM AND REG- ISTRY.—The term ‘Nationwide Mortgage Licensing System and Registry’ has the same meaning as in the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. ‘‘(4) OTHER DEFINITIONS RELATING TO MORTGAGE ORIGI- NATOR.—For purposes of this subsection, a person ‘assists a consumer in obtaining or applying to obtain a residential mort- gage loan’ by, among other things, advising on residential mort- gage loan terms (including rates, fees, and other costs), pre- paring residential mortgage loan packages, or collecting information on behalf of the consumer with regard to a residen- tial mortgage loan. ‘‘(5) RESIDENTIAL MORTGAGE LOAN.—The term ‘residential mortgage loan’ means any consumer credit transaction that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or on residential real property that includes a dwelling, other than a consumer credit transaction under an open end credit plan or, for pur- poses of sections 129B and 129C and section 128(a) (16), (17), (18), and (19), and sections 128(f) and 130(k), and any regula- tions promulgated thereunder, an extension of credit relating to a plan described in section 101(53D) of title 11, United States Code. ‘‘(6) SECRETARY.—The term ‘Secretary’, when used in connection with any transaction or person involved with a residential mortgage loan, means the Secretary of Housing and Urban Development. ‘‘(7) SERVICER.—The term ‘servicer’ has the same meaning as in section 6(i)(2) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2605(i)(2)).’’. SEC. 1402. RESIDENTIAL MORTGAGE LOAN ORIGINATION. (a) IN GENERAL.—Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended— (1) by redesignating the 2nd of the 2 sections designated as section 129 (15 U.S.C. 1639a) (relating to duty of servicers of residential mortgages) as section 129A; and
