AK HB145

Establishes Chapter 62 in AS 06 to regulate residential real property mortgage lending, including licensing of mortgage lenders, mortgage brokers, and mortgage loan originators.

Creates a Mortgage Loan Originator Surety Fund with maximum liability of $15,000 per claimant and $50,000 per originator licensee to pay claims against mortgage originators.

Authorizes the Department of Commerce, Community, and Economic Development to adopt regulations ensuring compliance with federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 and the Nationwide Mortgage Licensing System and Registry.

Establishes a program administration fee collected per mortgage loan transaction to reimburse the state for administering the mortgage lending regulatory chapter.

Repeals former AS 06.60 (small mortgage lender provisions) effective July 1, 2010, with existing licenses continuing under the new AS 06.62 framework.