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AZ HB2169

Bill

Status

Passed

3/30/2015

Primary Sponsor

Kate Brophy McGee

Click for details

Origin

House of Representatives

Fifty-second Legislature - First Regular Session (2015)

AI Summary

  • 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.

  • 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.

  • 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.

  • Requires examination fees to be set consistent with nationwide mortgage licensing system requirements and clarifies the superintendent's authority to contract with examination providers.

  • 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

Full Bill Text

No bill text available