5 Del. Admin. Code § 2201-7.0 - Origination of Mortgage Loans for Resale
Solely for the purposes of the loan limitation provisions contained in the last sentence of 5 Del.C. § 2228 (a), the term "loans" shall not be deemed to include loans secured by mortgages on real property located in this State (or secured by certificates of stock or other evidence of ownership interest in, or proprietary leases from corporations or partnerships formed for the purpose of cooperative ownership of real estate in this State) if such loans are originated by a licensee for resale and the licensee in fact sells, assigns or otherwise transfers the entire interest in the loan (except servicing, if servicing is retained) within 120 days following the date the loan is made. Upon written request, additional time may be granted at the discretion of the Commissioner.
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