Notwithstanding the provisions of Section 501 of the United States Depository Institutions Deregulation and Monetary Control Act of 1980, Public Law 96-221, the Legislature declares that the maximum finance charges established in article II apply to:
1. Consumer credit transactions involving manufactured housing as defined in section 1‑301, subsection 23‑A; and
2.
3. First lien mortgages on real estate granted by a creditor subject to licensing by the administrator as set out in section 2‑301.
The Legislature declares that the preemption provided by the United States Garn-St. Germain Depository Institutions Act of 1982, Public Law 97-320, Section 804, shall not apply. The Legislature further declares that the applicable provisions of the Maine Consumer Credit Code relating to alternative mortgage instruments shall apply, including, but not limited to, sections 3‑308 and 3‑310.