SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2011 SESSION
SB 1009 Mortgage loan originators; prohibits SCC from issuing provisional licenses on or after July 1, 2011.
Introduced by: John C. Watkins | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Mortgage lenders, mortgage brokers, and mortgage loan originators. Prohibits the State Corporation Commission (SCC) from issuing provisional licenses to mortgage loan originators on or after July 1, 2011, and repeals the provision that authorized the SCC to issue such provisional licenses effective July 1, 2012. The measure authorizes the SCC to issue cease and desist orders with regard to mortgage loan originators that have violated requirements of applicable law. Finally, the measure requires applicants for a mortgage lender or mortgage broker license to pay an application fee of $150 for each office at which the business to be licensed is to be conducted.
FULL TEXT
- 01/11/11 Senate: Prefiled and ordered printed; offered 01/12/11 11103784D pdf | impact statement
- 02/24/11 Senate: Bill text as passed Senate and House (SB1009ER) pdf | impact statement
- 03/24/11 Governor: Acts of Assembly Chapter text (CHAP0435) pdf
HISTORY
- 01/11/11 Senate: Prefiled and ordered printed; offered 01/12/11 11103784D
- 01/11/11 Senate: Referred to Committee on Commerce and Labor
- 01/17/11 Senate: Reported from Commerce and Labor (14-Y 0-N)
- 01/19/11 Senate: Constitutional reading dispensed (38-Y 0-N)
- 01/20/11 Senate: Read second time and engrossed
- 01/21/11 Senate: Read third time and passed Senate (35-Y 0-N)
- 01/21/11 Senate: Reconsideration of passage agreed to by Senate (35-Y 0-N)
- 01/21/11 Senate: Passed Senate (35-Y 0-N)
- 02/07/11 House: Placed on Calendar
- 02/07/11 House: Read first time
- 02/07/11 House: Referred to Committee on Commerce and Labor
- 02/15/11 House: Reported from Commerce and Labor (22-Y 0-N)
- 02/17/11 House: Read second time
- 02/18/11 House: Read third time
- 02/18/11 House: Passed House BLOCK VOTE (95-Y 0-N)
- 02/18/11 House: VOTE: BLOCK VOTE PASSAGE (95-Y 0-N)
- 02/24/11 Senate: Enrolled
- 02/24/11 Senate: Bill text as passed Senate and House (SB1009ER)
- 02/24/11 House: Signed by Speaker
- 02/24/11 Senate: Signed by President
- 03/24/11 Governor: Approved by Governor-Chapter 435 (effective 7/1/11)
- 03/24/11 Governor: Acts of Assembly Chapter text (CHAP0435)