(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.
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