Legislation

Title: Financial Institutions - Commissioner of Financial Regulation - Mortgage Lenders, Loan Servicers, and Loan Originators
Sponsored by: Chair, Economic Matters Committee (By Request - Departmental - Labor, Licensing and Regulation)
Status: Approved by the Governor - Chapter 92
Analysis: Fiscal and Policy Note

Synopsis

Altering certain net worth requirements for certain applicants and licensees for certain mortgage lending, loan servicing, and loan origination activities; establishing certain net worth requirements for certain applicants and licensees acting as mortgage loan servicers for government-sponsored enterprises and other entities; authorizing the use of an irrevocable letter of credit from certain institutions to satisfy certain requirements under certain circumstances; etc.

Committees

Original:: Economic Matters Click to view Recorded Media

Opposite:: Finance Click to view Recorded Media

Details

Bill File Type: Regular

Effective Date(s): October 1, 2019

By Request of the Governor

History

Legislation History
Chamber House Calendar Date 1/17/2019 Legislative Date 1/17/2019 Action First Reading Economic Matters Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Financial Institutions - Commissioner of Financial Regulation - Mortgage Lenders, Loan Servicers, and Loan Originators Proceedings
Chamber House Calendar Date 1/17/2019 Legislative Date 1/17/2019 Action Hearing 1/30 at 1:00 p.m. Proceedings
Chamber House Calendar Date 1/21/2019 Legislative Date 1/21/2019 Action Hearing canceled Proceedings
Chamber House Calendar Date 1/21/2019 Legislative Date 1/21/2019 Action Hearing 1/30 at 3:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Economic Matters Proceedings Click to view Recorded Media
Chamber House Calendar Date 2/25/2019 Legislative Date 2/25/2019 Action Favorable with Amendments Report by Economic Matters Proceedings
Chamber House Calendar Date 2/26/2019 Legislative Date 2/26/2019 Action Favorable with Amendments {483296/1 Adopted Proceedings 35 Click to view Recorded Media
Chamber House Calendar Date 2/26/2019 Legislative Date 2/26/2019 Action Second Reading Passed with Amendments Proceedings 35 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Financial Institutions - Commissioner of Financial Regulation - Mortgage Lenders, Loan Servicers, and Loan Originators Proceedings
Chamber House Calendar Date 2/28/2019 Legislative Date 2/28/2019 Action Third Reading Passed (138-0) Proceedings 37 Click to view Recorded Media
Chamber Senate Calendar Date 3/01/2019 Legislative Date 3/01/2019 Action Referred Finance Proceedings 37 Click to view Recorded Media
Chamber Senate Calendar Date 3/12/2019 Legislative Date 3/12/2019 Action Hearing 3/21 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Finance Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/25/2019 Legislative Date 3/25/2019 Action Favorable Report by Finance Proceedings
Chamber Senate Calendar Date 3/27/2019 Legislative Date 3/23/2019 Action Favorable Adopted Proceedings 55 Click to view Recorded Media
Chamber Senate Calendar Date 3/27/2019 Legislative Date 3/23/2019 Action Second Reading Passed Proceedings 55 Click to view Recorded Media
Chamber Senate Calendar Date 3/28/2019 Legislative Date 3/24/2019 Action Third Reading Passed (47-0) Proceedings 56 Click to view Recorded Media
Chamber House Calendar Date 3/29/2019 Legislative Date 3/21/2019 Action Returned Passed Proceedings 56 Click to view Recorded Media
Chamber Post Passage Calendar Date 4/18/2019 Legislative Date 4/18/2019 Action Approved by the Governor - Chapter 92 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Financial Institutions - Commissioner of Financial Regulation - Mortgage Lenders, Loan Servicers, and Loan Originators Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/17/2019	1/17/2019	First Reading Economic Matters
			Text - First - Financial Institutions - Commissioner of Financial Regulation - Mortgage Lenders, Loan Servicers, and Loan Originators
House	1/17/2019	1/17/2019	Hearing 1/30 at 1:00 p.m.
House	1/21/2019	1/21/2019	Hearing canceled
House	1/21/2019	1/21/2019	Hearing 1/30 at 3:00 p.m.
			Vote - House - Committee - Economic Matters	Click to view Recorded Media
House	2/25/2019	2/25/2019	Favorable with Amendments Report by Economic Matters
House	2/26/2019	2/26/2019	Favorable with Amendments {483296/1 Adopted	35 Click to view Recorded Media
House	2/26/2019	2/26/2019	Second Reading Passed with Amendments	35 Click to view Recorded Media
			Text - Third - Financial Institutions - Commissioner of Financial Regulation - Mortgage Lenders, Loan Servicers, and Loan Originators
House	2/28/2019	2/28/2019	Third Reading Passed (138-0)	37 Click to view Recorded Media
Senate	3/01/2019	3/01/2019	Referred Finance	37 Click to view Recorded Media
Senate	3/12/2019	3/12/2019	Hearing 3/21 at 1:00 p.m.
			Vote - Senate - Committee - Finance	Click to view Recorded Media
Senate	3/25/2019	3/25/2019	Favorable Report by Finance
Senate	3/27/2019	3/23/2019	Favorable Adopted	55 Click to view Recorded Media
Senate	3/27/2019	3/23/2019	Second Reading Passed	55 Click to view Recorded Media
Senate	3/28/2019	3/24/2019	Third Reading Passed (47-0)	56 Click to view Recorded Media
House	3/29/2019	3/21/2019	Returned Passed	56 Click to view Recorded Media
Post Passage	4/18/2019	4/18/2019	Approved by the Governor - Chapter 92
			Text - Chapter - Financial Institutions - Commissioner of Financial Regulation - Mortgage Lenders, Loan Servicers, and Loan Originators

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Subjects

Statutes