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WI AB313

Bill

Official Source

Status

Introduced

6/6/2025

Primary Sponsor

Robert Brooks

Click for details

Origin

State Assembly

2025-2026 Regular Session

AI Summary

  • Eliminates the $100,000 minimum net worth requirement for mortgage broker license applicants in Wisconsin
  • Maintains the $250,000 minimum net worth requirement for mortgage banker licensure
  • Amends Wisconsin statute 224.72(4)(b), which governs licensing requirements through the Division of Banking in the Department of Financial Institutions
  • Mortgage brokers assist others in obtaining or applying for loans for compensation but do not make underwriting decisions or close loans

Legislative Description

The minimum net worth requirement for licensed mortgage brokers.

Last Action

Laid on the table

1/13/2026

Committee Referrals

Rules10/8/2025
Financial Institutions6/6/2025

Full Bill Text

No bill text available