Summary of HB10-1141

Sponsors: Carroll T./Tochtrop

Section 3 of the bill requires mortgage companies to register with and be regulated by the division of real estate under the "Mortgage Loan Originator Licensing and Mortgage Company Registration Act".
Section 6 sets standards for mortgage companies to be registered, including that they be registered on the nationwide mortgage licensing system and registry created pursuant to the federal "Secure and Fair Enforcement for Mortgage Licensing Act of 2008". Section 7 specifies grounds for disciplinary action against mortgage companies. Sections 11 to 13 delay the scheduled sunset of this regulatory program of July 1, 2011, to July 1, 2014.

Status:

01/20/2010 Introduced In House - Assigned to Business Affairs and Labor
01/27/2010 House Committee on Business Affairs and Labor Refer Amended to House Committee of the Whole
02/01/2010 House Second Reading Laid Over to 02/03/2010
02/03/2010 House Second Reading Passed with Amendments
02/04/2010 House Third Reading Passed
02/09/2010 Introduced In Senate - Assigned to Business, Labor and Technology
03/02/2010 Senate Committee on Business, Labor and Technology Refer Amended to Senate Committee of the Whole
03/05/2010 Senate Second Reading Laid Over Daily
03/10/2010 Senate Second Reading Laid Over to 03/12/2010
03/12/2010 Senate Second Reading Passed with Amendments
03/16/2010 Senate Third Reading Laid Over Daily
03/22/2010 Senate Third Reading Referred w/Amend. to Business, Labor and Technology
03/22/2010 Senate Third Reading Referred
03/31/2010 Senate Committee on Business, Labor and Technology Refer Amended to Appropriations
04/23/2010 Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
04/27/2010 Senate Second Reading Laid Over Daily
04/30/2010 Senate Second Reading Passed with Amendments

Fiscal Notes

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