Mortgage loan originators; conforms Virginia statutory law to federal regulations. (HB1803)
Introduced By
Del. Danny Marshall (R-Danville)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Mortgage loan originators. Conforms Virginia statutory law to federal regulations implementing the Secure and Fair Enforcement for Mortgage Licensing Act. Changes include (i) expanding the definition of a mortgage loan originator to include an individual who represents to the public that he can or will take an application for, or offer or negotiate the terms of, a residential mortgage loan; (ii) clarifying that when an individual acts as a loan originator in financing the sale of his own residence, he is exempt from licensing requirements; (iii) specifying conditions under which an attorney engaged in mortgage loan origination activities is exempt from licensing requirements; and (iv) defining the term "employee." This bill is a recommendation of the Virginia Housing Commission. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/08/2013 | Committee |
01/08/2013 | Prefiled and ordered printed; offered 01/09/13 13103428D |
01/08/2013 | Referred to Committee on Commerce and Labor |
01/15/2013 | Impact statement from SCC (HB1803) |
01/17/2013 | Reported from Commerce and Labor with amendment (22-Y 0-N) (see vote tally) |
01/21/2013 | Read first time |
01/22/2013 | Read second time |
01/22/2013 | Committee amendment agreed to |
01/22/2013 | Engrossed by House as amended HB1803E |
01/22/2013 | Printed as engrossed 13103428D-E |
01/23/2013 | Read third time and passed House BLOCK VOTE (98-Y 0-N) |
01/23/2013 | VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally) |
01/24/2013 | Constitutional reading dispensed |
01/24/2013 | Referred to Committee on Commerce and Labor |
01/27/2013 | Impact statement from SCC (HB1803E) |
02/04/2013 | Reported from Commerce and Labor (16-Y 0-N) (see vote tally) |
02/05/2013 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
02/06/2013 | Read third time |
02/06/2013 | Passed Senate (40-Y 0-N) (see vote tally) |
02/11/2013 | Enrolled |
02/11/2013 | Bill text as passed House and Senate (HB1803ER) |
02/11/2013 | Signed by Speaker |
02/12/2013 | Signed by President |
02/12/2013 | Impact statement from SCC (HB1803ER) |
02/20/2013 | G Approved by Governor-Chapter 20 (effective 7/1/13) |
02/20/2013 | G Acts of Assembly Chapter text (CHAP0020) |