CS/HB 7099 (2009) -  Mortgage Brokering and Mortgage Lending

General Bill by Government Operations Appropriations Committee and Insurance, Business & Financial Affairs Policy Committee and Patterson (CO-SPONSORS) Workman
Mortgage Brokering and Mortgage Lending: Authorizes FSC to enforce compliance with S.A.F.E. Mortgage Licensing Act of 2008; authorizes OFR to participate in Nationwide Mortgage Licensing System & Registry; prohibits unfair & deceptive advertising relating to mortgage brokering & lending; revises provisions relating to who is exempt from loan originator or mortgage broker licensing & regulation; provides for licensure of mortgage brokers; provides for licensure of loan originators; prohibits loan originator from being employed or contracting with more than one mortgage broker or mortgage lender; provides for management of mortgage broker by principal loan originator & branch office by loan originator; revises provisions relating to licensure of mortgage broker's branch office; revises provisions relating to loan origination & mortgage broker fees; revises provisions relating to exemptions from mortgage lender licensing & regulation requirements; provides for licensure of mortgage lenders; requires mortgage lenders to obtain annual financial audit reports; revises provisions relating to mortgage lender branch office licenses; provides for principal loan originator & branch manager for mortgage lender; revises requirements of mortgage lenders; provides for termination of mortgage business school licenses, mortgage brokerage business licenses, mortgage broker licenses, & correspondent mortgage lender licenses.
Companion Bill passed CS/CS/SB 2226 Mortgage Brokering and Lending [CPSC] By Judiciary and Banking and Insurance and Banking and Insurance
Effective Date: October 1, 2010
Last Event: Companion Bill passed, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241) on Friday, May 1, 2009 12:57 PM; HB Laid on Table
Date Available for Final Passage: Monday, April 27, 2009 2:03 PM

PCB committee actions:

  • PCB IBFA 09-01 recommended by:
    Insurance, Business & Financial Affairs Policy Committee

Referred Committees and Committee Actions

House Referrals

Related Bills

Bill # Subject Relationship
Bill #: HB 7101 Subject: Trust Funds Relationship: Linked
Bill #: HB 7115 Subject: Pub. Rec./Office of Financial Regulation Relationship: Linked
Bill #: CS/CS/SB 2226 Subject: Mortgage Brokering and Lending [CPSC] Relationship: Similar
Bill #: SB 1940 Subject: Mortgage Guaranty TF/Financial Regulation Office [CPSC] Relationship: Compare
Bill #: SB 2652 Subject: Pub. Rec./Office of Financial Regulation [CPSC] Relationship: Compare

Bill Text

Staff Analysis

Chamber Committee
Chamber: House Committee: Government Operations Appropriations Committee 4/16/2009 5:48:15 PM
Chamber: House Committee: Government Operations Appropriations Committee 4/10/2009 6:25:06 PM
Chamber: House Committee: Insurance, Business & Financial Affairs Policy Committee 3/27/2009 3:50:28 PM
Chamber: House Committee: Insurance, Business & Financial Affairs Policy Committee 3/27/2009 1:32:30 PM

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Laid on Table, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241) Time: 05/01/2009 - 12:57 PM Member: Committee: Version: e1
Event: H Substituted CS/CS/SB 2226 Time: 05/01/2009 - 12:57 PM Member: Committee: Version: e1
Event: H Temporarily postponed, on 3rd Reading Time: 04/29/2009 - 9:43 AM Member: Committee: Version: e1
Event: H Temporarily postponed, on 3rd Reading Time: 04/28/2009 - 9:15 AM Member: Committee: Version: e1
Event: H Temporarily postponed, on 3rd Reading Time: 04/27/2009 - 9:35 AM Member: Committee: Version: e1
Event: H Added to Third Reading Calendar Time: 04/23/2009 - 7:03 PM Member: Committee: Version: e1
Event: H Amendment 372667 adopted Time: 04/23/2009 - 2:03 PM Member: Committee: Version: c1
Event: H Read 2nd time Time: 04/23/2009 - 1:56 PM Member: Committee: Version: c1
Event: H Amendment 372667 filed Time: 04/22/2009 - 1:11 PM Member: Committee: Version: c1
Event: H Bill added to Special Order Calendar (4/23/2009) Time: 04/21/2009 - 7:53 PM Member: Committee: Version: c1
Event: H Added to Second Reading Calendar Time: 04/21/2009 - 6:49 PM Member: Committee: Version: c1
Event: H Bill referred to House Calendar Time: 04/21/2009 - 6:49 PM Member: Committee: Version: c1
Event: H 1st Reading Time: 04/16/2009 - 11:59 PM Member: Committee: Version: c1
Event: H CS Filed Time: 04/16/2009 - 5:53 PM Member: Committee: Version: c1
Event: H Laid on Table under Rule 7.20 Time: 04/16/2009 - 5:53 PM Member: Committee: Version: __
Event: H Reported out of Government Operations Appropriations Committee Time: 04/16/2009 - 5:49 PM Member: Committee: Government Operations Appropriations Committee Version: __
Event: H Favorable with CS by Government Operations Appropriations Committee Time: 04/13/2009 - 2:30 PM Member: Committee: Government Operations Appropriations Committee Version: __
Event: H Added to Government Operations Appropriations Committee agenda Time: 04/09/2009 - 4:16 PM Member: Committee: Government Operations Appropriations Committee Version: __
Event: H Now in Government Operations Appropriations Committee Time: 04/08/2009 - 7:59 PM Member: Committee: Government Operations Appropriations Committee Version: __
Event: H Referred to Government Operations Appropriations Committee Time: 04/08/2009 - 7:59 PM Member: Committee: Government Operations Appropriations Committee Version: __
Event: H 1st Reading Time: 03/27/2009 - 4:47 PM Member: Committee: Version: __
Event: H Filed Time: 03/27/2009 - 1:29 PM Member: Committee: Insurance, Business & Financial Affairs Policy Committee Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
201.23
420.507 CS/CS/HB 161, CS/HB 597, CS/HB 1009
494.001
494.0011
494.00115
494.00135
494.0014
494.00165
494.0017
494.00172
494.0018
494.0019
494.002
494.0023
494.0025
494.00255
494.0026
494.0028
494.0029
494.00295
494.00296
494.003
494.0031
494.00312
494.00313
494.0032
494.00321
494.00322
494.0033
494.00331
494.0034
494.0035
494.0036
494.0038
494.0039
494.004
494.0041
494.0042
494.00421
494.0043
494.006
494.0061
494.00611
494.00612
494.0062
494.0063
494.0064
494.0065
494.0066
494.00665
494.0067
494.0068
494.0069
494.007
494.0071
494.0072
494.00721
494.0073
494.0075
494.0076
494.0077
501.1377 HB 1181
520.52
520.63
607.0505
687.12