Pursuant to 12 USCS § 3802 (2) [Title 12. Banks and Banking; Chapter 39. Alternative Mortgage Transactions], the term housing creditor means--
“(A) a depository institution, as defined in section 501(a)(2) of the Depository Institutions Deregulation and Monetary Control Act of 1980 [12 USCS § 1735f-7 note];
(B) a lender approved by the Secretary of Housing and Urban Development for participation in any mortgage insurance program under the National Housing Act;
(C) any person who regularly makes loans, credit sales, or advances secured by interests in properties referred to in paragraph (1); or
(D) any transferee of any of them.
A person is not a "housing creditor" with respect to a specific alternative mortgage transaction if, except for this title [12 USCS §§ 3801 et seq.], in order to enter into that transaction, the person would be required to comply with licensing requirements imposed under State law, unless such person is licensed under applicable State law and such person remains, or becomes, subject to the applicable regulatory requirements and enforcement mechanisms provided by State law.”