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AZ HB2169
Bill
Status
3/30/2015
Primary Sponsor
Kate Brophy McGee
Click for details
AI Summary
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Amends loan originator licensing requirements under Arizona Revised Statutes sections 6-991.03 and 6-991.07 to align with the nationwide mortgage licensing system and registry established by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.
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Modifies pre-licensure education requirements to include four hours of Arizona state law (increased from previous requirements) and removes specific examination coverage of state laws from the general knowledge test.
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Changes examination administration to require use of exams developed or deemed acceptable by the nationwide mortgage licensing system and registry rather than state-specific exams.
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Requires examination fees to be set consistent with nationwide mortgage licensing system requirements and clarifies the superintendent's authority to contract with examination providers.
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Updates continuing education renewal requirements to include one hour of Arizona state law instruction among the eight required continuing education units.
Legislative Description
Loan originator licensing
Last Action
Chapter 102
3/30/2015