Section 47-32-103 - Application(a) This chapter applies to transactions involving loans made by mortgage lenders utilizing settlement agents, which loans shall be secured by deeds of trust or mortgages on real estate, on the following:(1) Dwellings containing not more than four (4) residential units, regardless of the purpose of such dwellings;(2) Vacant lots zoned or designated for use as residential property; or(b) This chapter does not apply to transactions involving loans made by mortgage lenders on: (1) Commercial real estate; or(2) Industrial or other real estate not included in subsection (a).