Mortgage lenders and mortgage brokers; licenses, reports. (HB124)

Introduced By

Del. Danny Marshall (R-Danville)

Progress

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

Description

Mortgage lenders and mortgage brokers; licenses; reports. Provides that mortgage company and branch licenses issued by the State Corporation Commission expire at the end of each calendar year, unless renewed. The measure provides a process for license renewals and the reinstatement of a mortgage lender or mortgage broker whose license has expired. The measure also replaces the annual reporting requirement with a requirement that licensees file periodic reports with the Commissioner of Financial Institutions or the Nationwide Mortgage Licensing System and Registry. Amends § 6.2-1607, § 6.2-1610, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
12/16/2015Committee
12/16/2015Prefiled and ordered printed; offered 01/13/16 16101540D
12/16/2015Referred to Committee on Commerce and Labor
01/06/2016Impact statement from SCC (HB124)
01/19/2016Reported from Commerce and Labor (21-Y 0-N) (see vote tally)
01/21/2016Read first time
01/25/2016Read second time and engrossed
01/26/2016Read third time and passed House BLOCK VOTE (98-Y 0-N)
01/26/2016VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
01/27/2016Constitutional reading dispensed
01/27/2016Referred to Committee on Commerce and Labor
02/22/2016Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
02/24/2016Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/25/2016Read third time
02/25/2016Passed Senate (40-Y 0-N) (see vote tally)
02/29/2016Enrolled
02/29/2016Bill text as passed House and Senate (HB124ER)
02/29/2016Signed by Speaker
03/01/2016Impact statement from SCC (HB124ER)
03/03/2016Signed by President
03/04/2016Enrolled Bill communicated to Governor on 3/4/16
03/04/2016G Governor's Action Deadline Midnight, March 11, 2016
03/11/2016G Approved by Governor-Chapter 329 (effective 7/1/16)
03/11/2016G Acts of Assembly Chapter text (CHAP0329)