The bill amends Wyoming's mortgage loan licensing requirements by introducing a new exemption for individuals who engage in the business of a mortgage lender without compensation or gain. Specifically, it allows a person to provide loan financing for up to five residential mortgage loans within a twelve-month period without needing a license. The bill clarifies that "compensation or gain" does not include any interest paid on the loans provided under this exemption.

The effective date for this legislation is set for July 1, 2025. This change aims to facilitate certain lending activities while maintaining regulatory oversight for larger-scale mortgage lending operations.

Statutes affected:
Introduced: 40-23-124
Engrossed: 40-23-105