HI SB667

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

Defines "nonprofit organization" as a tax-exempt 501(c)(3) entity that conducts activities for public or charitable purposes, receives funding that doesn't incentivize conflicts of interest, and offers mortgage servicer services.

Establishes reduced licensing fees for nonprofit organizations: $200 for initial application and $150 for annual renewal, compared to $675 and $600 respectively for regular mortgage servicers.

Reorganizes existing fee structures in statute to separately specify fees for mortgage servicers and nonprofit organizations under a new subsection (b).

Takes effect July 1, 2050.