2005 Regular Session

HOUSE BILL 1040

CHAPTER NUMBER: 590 File Code: Financial Institutions Crossfiled with: SENATE BILL 660
Sponsored By:
Delegates Wood, D. Davis, Moe, Jameson, Miller, Minnick, Haddaway, Krebs, Parrott, Taylor, Trueschler, and Walkup
Entitled:
Financial Institutions - Consumer Credit - Mortgage Originators

Synopsis:

Prohibiting an individual from acting as a mortgage originator on or after a specified date unless the individual is a licensee or is exempt from licensing under the Act; providing that a license issued under the Act authorizes a licensee to act as a mortgage originator only under specified circumstances; prohibiting a licensee from maintaining more than one license or being employed by more than one mortgage lender; providing that a mortgage lender is not required to maintain an office in the State under specified circumstances; etc.

History by Legislative Date

House Action
2/11
First Reading Economic Matters
2/16
Hearing 3/8 at 1:00 p.m.
3/25

Favorable with Amendments Report by Economic Matters
3/24
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/25
Third Reading Passed (126-0)
4/5
House Concur - Senate Amendments
Third Reading Passed (134-0)
Passed Enrolled
Senate Action
3/28
First Reading Finance
3/29
Hearing 3/31 at 1:00 p.m.
4/4
Favorable with Amendments Report by Finance
4/2
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/4
Third Reading Passed with Amendments (46-0)
Action after passage in House and Senate
5/26
Signed by the Governor Chapter 590

Sponsored by:

Delegate John F. Wood, Jr., District 29A
Delegate Dereck E. Davis, District 25
Delegate Jeannie Haddaway, District 37B
Delegate Sally Jameson, District 28
Delegate Susan W. Krebs, District 9B
Delegate Warren E. Miller, District 9A
Delegate Joseph J. Minnick, District 6
Delegate Brian R. Moe, District 21
Delegate Joanne S. Parrott, District 35A
Delegate Herman L. Taylor, Jr., District 14
Delegate John G. Trueschler, District 42
Delegate Mary Roe Walkup, District 36

Bill indexed under the following Subjects:

APPROPRIATIONS
CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
COURTS -see also- CIRCUIT; APPEALS; DISTRICT; ORPHANS'; etc.
CRIMES AND PUNISHMENTS -see also- PENALTIES; SENTENCES; etc.
CRIMINAL BACKGROUND INVESTIGATIONS
EDUCATION -see also- DRIVER ED; HIGHER ED; SPECIAL ED; etc
EXAMINATIONS
FEES -see also- DEVELOPMENT FEES AND TAXES
FINANCIAL REGULATION, DIVISION OF
FINES
FINGERPRINTING
HEARINGS
INTERSTATE AFFAIRS
INVESTIGATIONS AND INQUIRIES -see also- CRIM BCKGRND INVEST.
LABOR, LICENSING, AND REGULATION, DEPARTMENT OF
LIABILITY -see also- GOOD SAMARITAN
LICENSES -see also- ALCOHOLIC BEV LIC; DRIVERS' LICENSES
MORTGAGES
NOTICES
PENALTIES
PETITIONS
RULES AND REGULATIONS
WORK, LABOR AND EMPLOYMENT -see also- COL BARG; HOLIDAY; etc

Bill affects the following Statutes:

Financial Institutions
( 11-517 , 11-601 , 11-602 , 11-603 , 11-604 , 11-605 , 11-606 , 11-607 , 11-608 , 11-609 , 11-610 , 11-611 , 11-612 , 11-613 , 11-614 , 11-615 , 11-616 , 11-617 , 11-618 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments (Displayed in WordPerfect 8 Format):
House
Number: 263697/01 (PDF)     Offered on: March 25, 2005   at: 10:20 a.m.     Status: Adopted
SENATE
Number: 817676/01 (PDF)     Offered on: April 4, 2005   at: 11:39 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 25, 2005: Third Reading Passed (126-0)
April 5, 2005: Third Reading Passed (134-0)
Senate
April 4, 2005: Third Reading Passed (46-0)