Adds a new subsection (c) to 12 U.S.C. 5103 creating an exception to the title's license/registration requirements for certain 'owner financers' (non-depository institutions) that meet specified loan-count and ownership conditions.

Amends 15 U.S.C. 1602(dd)(2) by (1) redesignating existing subparagraphs (F) and (G) as (G) and (H); (2) replacing subparagraph (E) with a new owner-financer exception for residential mortgage sales limiting the exception to persons/entities that provide owner financing for 24 properties in a 12-month period and that meet specified conditions (ownership, security, not a builder/general contractor, fully amortizing, documented good-faith ability-to-pay determination, fixed or long-delay adjustable rate with limitations, and any additional Bureau-prescribed criteria); and (3) inserting a new subparagraph (F) creating an owner-financed manufactured-home exception for consumer loans secured by manufactured homes that meet analogous conditions and Bureau rulemaking criteria.