HI HB1085

Adds definition of "executive officer" as president, chairperson, senior officer, or chief financial officer responsible for an entity's business.

Clarifies that "qualified individual" includes oversight of mortgage loan originators for exempt sponsoring mortgage loan originator companies, not just licensed companies.

Expands presumption of control over a mortgage loan originator company to include executive officers, separately from directors, general partners, and managing members.

Requires exempt sponsoring mortgage loan originator companies to designate a qualified individual and maintain a principal place of business in Hawaii, with similar supervisory duties as licensed companies.

Adds requirements for nonprofit organizations to designate an employee supervisor for mortgage loan origination activities and clarifies criminal background check fee procedures for applicants and control persons.