Nationwide Mortgage Licensing System & Registry; mortgage lenders & brokers required to register. (SB240)
Introduced By
Sen. John Watkins (R-Midlothian)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Certain mortgage lenders and mortgage brokers required to register with Nationwide Mortgage Licensing System and Registry. Compels mortgage lenders and mortgage brokers whose employees are required to be licensed as mortgage loan originators, to register with the Nationwide Mortgage Licensing System and Registry, developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. The Commissioner of the Bureau of Financial Institutions may establish agreements with the Registry for such conditions as the collection of information and fees. This is a recommendation of the Virginia Housing Commission. View Full Text »
Outcome
Bill Has Passed
View Bill's History
