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HI HB2501
Bill
Status
4/10/2012
Primary Sponsor
Calvin Say
Click for details
AI Summary
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Amends the Secure and Fair Enforcement for Mortgage Licensing Act to reflect recent changes in federal law and adjust fees for mortgage loan originator activities
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Clarifies application of "housing finance agency" definition to nonprofit organizations
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Updates definition of "Nationwide Mortgage Licensing System" to reflect its alternative name as "Nationwide Mortgage Licensing System and Registry"
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Reduces the time limit for licensure applicants to demonstrate continued efforts to complete their application from six months to thirty days
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Sets effective date as July 1, 2050, to allow for further discussion on the measure
Legislative Description
Mortgage Loan Originators; Mortgage Loan Originator Companies; Fees
Last Action
(H) Conference Committee Meeting will reconvene on Tuesday 04-24-12 10:00AM in conference room 016.
4/20/2012