Mortgage loan originators; definition, establishes licensure and registry. (SB1171)

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Mortgage loan originators. Defines mortgage originator; establishes licensure and registry for originators in conjunction with the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008; and coordinates Virginia actions with the Nationwide Mortgage Licensing System and Registry, a system developed and maintained by the Conference of State Bank Supervisors that includes background checks and educational requirements. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/13/2009Prefiled and ordered printed; offered 01/14/09 097433348
01/13/2009Referred to Committee on Commerce and Labor
01/22/2009Impact statement from SCC (SB1171)
02/02/2009Reported from Commerce and Labor with substitute (15-Y 0-N) (see vote tally)
02/03/2009Committee substitute printed 090167348-S1
02/04/2009Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/05/2009Read second time
02/05/2009Reading of substitute waived
02/05/2009Committee substitute agreed to 090167348-S1
02/05/2009Engrossed by Senate - committee substitute SB1171S1
02/06/2009Impact statement from SCC (SB1171S1)
02/06/2009Read third time and passed Senate (39-Y 0-N) (see vote tally)
02/13/2009Placed on Calendar
02/13/2009Read first time
02/13/2009Referred to Committee on Commerce and Labor
02/17/2009Reported from Commerce and Labor with substitute (20-Y 0-N) (see vote tally)
02/17/2009Committee substitute printed 090238348-H1
02/19/2009Read second time
02/20/2009Passed by for the day
02/23/2009Passed by for the day
02/24/2009Read third time
02/24/2009Committee substitute agreed to 090238348-H1
02/24/2009Engrossed by House - committee substitute SB1171H1
02/24/2009Passed House with substitute BLOCK VOTE (99-Y 0-N)
02/24/2009VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/25/2009Impact statement from SCC (SB1171H1)
02/25/2009House substitute agreed to by Senate (37-Y 0-N) (see vote tally)
02/25/2009Title replaced 090238348-H1
03/04/2009Enrolled
03/04/2009Bill text as passed Senate and House (SB1171ER)
03/05/2009Impact statement from SCC (SB1171ER)
03/05/2009Signed by President
03/06/2009Signed by Speaker
03/27/2009G Approved by Governor-Chapter 273 (effective 7/1/09)
03/27/2009G Acts of Assembly Chapter text (CHAP0273)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 40 seconds.

Duplicate Bills

The following bills are identical to this one: HB2031.