(1) Except as provided in Subsection (3), this chapter applies to a mortgage modification.
(2) This chapter does not affect the following law of this state:
(a) law governing the required content of a mortgage;
(b) a statute of limitations or other law governing the expiration or termination of a right to enforce an obligation or a mortgage;
(c) a recording statute;
(d) a statute governing the priority of a tax lien or other governmental lien;
(e) a statute of frauds; or
(f) except as provided in Subsection 70D-4-301(2)(h), law governing the priority of a future advance.
(3) This chapter does not apply to:
(a) a release of, or addition to, property encumbered by a mortgage;
(b) a release of, addition of, or other change in an obligor; or
(c) an assignment or other transfer of a mortgage or an obligation.