shall be subject to the provisions of Subchapter C (relating
to mortgage loan business restrictions and requirements) and
sections 6131(c)(2), (3) and (5), 6135, 6138 (relating to
authority of department) and 6140(b) (relating to penalties).
Employees or individuals under the direct supervision and
control of licensees under the act of April 8, 1937 (P.L.262,
No.66), known as the Consumer Discount Company Act, that act
as mortgage originators shall be subject to the licensing
requirements of this chapter. Consumer discount companies
that employ or directly supervise and control mortgage
originators shall be subject to the same requirements as
mortgage lenders in regard to the employment and supervision
of mortgage originators.
(7) Affiliates of banking institutions and subsidiaries
and affiliates of federally chartered or State-chartered
credit unions. The exception under this paragraph does not
apply to consumer discount companies. Notwithstanding the
exception under this paragraph, subsidiaries and affiliates
of federally chartered or State-chartered credit unions and
affiliates of banking institutions shall:
(i) be subject to the provisions of [Subchapter C
and] sections 6121(1), (2), (3), (4), (5), (6), (7), (8),
(9), (10), (11), (12), (13) and (14) (relating to general
requirements), 6122(a) and (b) (relating to powers
conferred on certain licensees engaged in the mortgage
loan business), 6123(a) (relating to mortgage loan
business prohibitions), 6124 (relating to prohibited
clauses in mortgage loan documents), 6125 (relating to
mortgage lending authority), 6126 (relating to
requirements as to open-end loans), 6135(a)(2), (3) and
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