Mortgage loan originators; prohibits SCC from issuing provisional licenses on or after July 1, 2011. (SB1009)
Introduced By
Sen. John Watkins (R-Midlothian)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Mortgage lenders, mortgage brokers, and mortgage loan originators. Prohibits the State Corporation Commission (SCC) from issuing provisional licenses to mortgage loan originators on or after July 1, 2011, and repeals the provision that authorized the SCC to issue such provisional licenses effective July 1, 2012. The measure authorizes the SCC to issue cease and desist orders with regard to mortgage loan originators that have violated requirements of applicable law. Finally, the measure requires applicants for a mortgage lender or mortgage broker license to pay an application fee of $150 for each office at which the business to be licensed is to be conducted. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/11/2011 | Prefiled and ordered printed; offered 01/12/11 11103784D |
01/11/2011 | Referred to Committee on Commerce and Labor |
01/17/2011 | Reported from Commerce and Labor (14-Y 0-N) (see vote tally) |
01/18/2011 | Impact statement from SCC (SB1009) |
01/19/2011 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
01/20/2011 | Read second time and engrossed |
01/21/2011 | Read third time and passed Senate (35-Y 0-N) (see vote tally) |
01/21/2011 | Reconsideration of passage agreed to by Senate (35-Y 0-N) (see vote tally) |
01/21/2011 | Passed Senate (35-Y 0-N) (see vote tally) |
02/07/2011 | Placed on Calendar |
02/07/2011 | Read first time |
02/07/2011 | Referred to Committee on Commerce and Labor |
02/15/2011 | Reported from Commerce and Labor (22-Y 0-N) (see vote tally) |
02/17/2011 | Read second time |
02/18/2011 | Read third time |
02/18/2011 | Passed House BLOCK VOTE (95-Y 0-N) |
02/18/2011 | VOTE: BLOCK VOTE PASSAGE (95-Y 0-N) (see vote tally) |
02/24/2011 | Impact statement from SCC (SB1009ER) |
02/24/2011 | Enrolled |
02/24/2011 | Bill text as passed Senate and House (SB1009ER) |
02/24/2011 | Signed by Speaker |
02/24/2011 | Signed by President |
03/24/2011 | G Approved by Governor-Chapter 435 (effective 7/1/11) |
03/24/2011 | G Acts of Assembly Chapter text (CHAP0435) |