HI SB667

Requires mortgage servicer licensees to establish an education program including development of internal policies, procedures, and controls, plus ongoing employee training with testing.

Defines "nonprofit organization" as a tax-exempt 501(c)(3) entity that operates for public/charitable purposes rather than commercial gain, with compensation and fee structures that do not incentivize employees to act against client interests.

Reduces licensing fees for nonprofit organizations to $200 for initial application and $150 for annual renewal, compared to $675 and $600 respectively for standard mortgage servicers.

Reorganizes existing fee provisions in Section 454M-4 by adding new subsection (b) that specifies different fee schedules for mortgage servicers versus nonprofit organizations.

Takes effect on July 1, 2050.