Mortgage loan originators; transitional licensing. (SB118)

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

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

Description

Transitional mortgage loan originators; licensing. Authorizes the State Corporation Commission to issue a transitional mortgage loan originator license to an individual who either (i) has an active license to originate mortgage loans pursuant to the laws of another state or a U.S. territory and satisfies certain registration requirements or (ii) was formerly a registered loan originator and is in the process of meeting the requirements necessary to obtain a mortgage loan originator license. Transitional licenses may be issued only if permitted by under federal law. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
12/30/2013Prefiled and ordered printed; offered 01/08/14
12/30/2013Prefiled and ordered printed; offered 01/08/14 14102395D
12/30/2013Referred to Committee on Commerce and Labor
01/24/2014Impact statement from SCC (SB118)
02/03/2014Reported from Commerce and Labor with substitute (16-Y 0-N) (see vote tally)
02/03/2014Committee substitute printed 14104427D-S1
02/05/2014Constitutional reading dispensed (40-Y 0-N)
02/05/2014Impact statement from SCC (SB118S1)
02/06/2014Read second time
02/06/2014Reading of substitute waived
02/06/2014Committee substitute agreed to 14104427D-S1
02/06/2014Engrossed by Senate - committee substitute SB118S1
02/07/2014Read third time and passed Senate (40-Y 0-N)
02/12/2014Placed on Calendar
02/12/2014Read first time
02/12/2014Referred to Committee on Commerce and Labor
02/18/2014Reported from Commerce and Labor (21-Y 0-N) (see vote tally)
02/20/2014Read second time
02/21/2014Read third time
02/21/2014Passed House BLOCK VOTE (97-Y 0-N)
02/21/2014VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
02/21/2014Reconsideration of House passage agreed to by House
02/21/2014Passed House BLOCK VOTE (98-Y 0-N)
02/21/2014VOTE: BLOCK VOTE PASSAGE #2 (98-Y 0-N) (see vote tally)
02/25/2014Enrolled
02/25/2014Bill text as passed Senate and House (SB118ER)
02/25/2014Signed by Speaker
02/26/2014Impact statement from SCC (SB118ER)
02/27/2014Signed by President
03/24/2014G Approved by Governor-Chapter 295 (effective 7/1/14)
03/24/2014G Acts of Assembly Chapter text (CHAP0295)

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 30 seconds.