An individual who for compensation or gain or in the expectation of compensation or gain, whether through contact by telephone, by electronic means, by mail, or in person with prospective borrowers, either: Takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan, Accepts or offers to accept applications for mortgage loans, Solicits or offers to solicit a mortgage loan, Negotiates the terms or conditions of a mortgage loan, or Issues mortgage loan commitments or interest rate guarantee agreements to prospective borrowers. The term includes an individual acting solely as a loss mitigation specialist if the United States Department of Housing and Urban Development issues a guideline, rule, regulation, or interpretative letter that such individuals are loan originators as the term is defined by § 1503 of Title V of the Housing and Economic Recovery Act of 2008, Public Law 110-289, and only to the extent of such an issuance or determination.
