Mortgage brokers; dual compensation. (HB1153)

Introduced By

Del. Lee Ware (R-Powhatan)

Progress

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

Description

Mortgage brokers; dual compensation. Removes provisions prohibiting a person from acting as a mortgage broker in connection with any real estate sales transaction in which such person has acted as a real estate broker or real estate salesperson and has received or will receive compensation in connection with such transaction. The bill provides that if a mortgage broker negotiates, places, or finds a mortgage loan and acts as a real estate broker or real estate salesperson in connection with the sale of the real estate that secures such loan, the mortgage broker is required to conspicuously provide to the borrower a written disclosure at the time the mortgage broker services are first offered to the borrower. This bill is identical to SB 303. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/14/2022Committee
01/14/2022Presented and ordered printed 22104174D
01/14/2022Referred to Committee on Commerce and Energy
01/25/2022Impact statement from SCC (HB1153)
01/31/2022Assigned sub: Subcommittee #1
02/01/2022Subcommittee recommends reporting (8-Y 0-N)
02/03/2022Reported from Commerce and Energy (22-Y 0-N) (see vote tally)
02/07/2022Read first time
02/08/2022Read second time and engrossed
02/09/2022Read third time and passed House BLOCK VOTE (99-Y 0-N)
02/09/2022VOTE: Block Vote Passage (99-Y 0-N) (see vote tally)
02/10/2022Constitutional reading dispensed
02/10/2022Referred to Committee on Commerce and Labor
02/21/2022Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
02/23/2022Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/24/2022Read third time
02/24/2022Passed Senate (40-Y 0-N) (see vote tally)
02/28/2022Enrolled
02/28/2022Bill text as passed House and Senate (HB1153ER)
02/28/2022Impact statement from SCC (HB1153ER)
02/28/2022Signed by Speaker
02/28/2022Signed by President
03/11/2022Enrolled Bill communicated to Governor on March 11, 2022
03/11/2022G Governor's Action Deadline 11:59 p.m., April 11, 2022
04/11/2022G Approved by Governor-Chapter 400 (effective 7/1/22)
04/11/2022G Acts of Assembly Chapter text (CHAP0400)

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