Mortgage loan originator for residential mortgage loan; allows for exception under definition. (SB786)
Introduced By
Sen. John Watkins (R-Midlothian)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Definition of mortgage loan originator for residential mortgage loan; exception. Allows for a limited exception under the mortgage loan originator definition for an individual who is employed by a housing counseling organization certified or approved by the U.S. Department of Housing and Urban Development and who assists borrowers in default, or imminent default, on their residential mortgages by negotiating or offering terms of such loans but does not otherwise engage in activities for which a license is required. This bill is recommended by the Virginia Housing Commission. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
12/28/2010 | Prefiled and ordered printed; offered 01/12/11 11101257D |
12/28/2010 | Referred to Committee on Commerce and Labor |
01/17/2011 | Reported from Commerce and Labor (13-Y 0-N) (see vote tally) |
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 |
02/08/2011 | Impact statement from DPB (SB786) |
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 | Enrolled |
02/24/2011 | Bill text as passed Senate and House (SB786ER) |
02/24/2011 | Impact statement from DPB (SB786ER) |
02/24/2011 | Signed by Speaker |
02/24/2011 | Signed by President |
03/20/2011 | G Approved by Governor-Chapter 301 (effective 7/1/11) |
03/20/2011 | G Acts of Assembly Chapter text (CHAP0301) |
Comments
The Virginia Housing Coalition is actively supporting this bill.