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2012 SESSION
SB 75 Mortgage loan originators; exempts from licensing employees of bona fide nonprofit organizations.
Introduced by: John C. Watkins | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Mortgage loan originators; bona fide nonprofit organizations. Exempts employees of bona fide nonprofit organizations from licensing and registration requirements applicable to mortgage loan originators. The State Corporation Commission is directed to prescribe, by regulation, procedures and criteria to be used to determine whether an organization is a bona fide nonprofit organization. In doing so, the Commission shall consider criteria adopted by the Consumer Financial Protection Bureau or other federal agency with rulemaking authority under the Secure and Fair Enforcement for Mortgage Licensing Act. The measure includes technical changes. This measure is a recommendation of the Virginia Housing Commission. This bill is identical to HB 570.
FULL TEXT
- 01/05/12 Senate: Prefiled and ordered printed; offered 01/11/12 12101450D pdf | impact statement
- 01/16/12 Senate: Committee substitute printed 12104232D-S1 pdf | impact statement
- 02/23/12 Senate: Bill text as passed Senate and House (SB75ER) pdf | impact statement
- 03/08/12 Governor: Acts of Assembly Chapter text (CHAP0187) pdf
HISTORY
- 01/05/12 Senate: Prefiled and ordered printed; offered 01/11/12 12101450D
- 01/05/12 Senate: Referred to Committee on Commerce and Labor
- 01/16/12 Senate: Reported from Commerce and Labor with substitute (16-Y 0-N)
- 01/16/12 Senate: Committee substitute printed 12104232D-S1
- 01/18/12 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/19/12 Senate: Read second time
- 01/19/12 Senate: Reading of substitute waived
- 01/19/12 Senate: Committee substitute agreed to 12104232D-S1
- 01/19/12 Senate: Engrossed by Senate - committee substitute SB75S1
- 01/20/12 Senate: Bills placed in block (39-Y 0-N)
- 01/20/12 Senate: Read third time and passed Senate (38-Y 0-N)
- 01/20/12 Senate: Reconsideration of passage agreed to by Senate (39-Y 0-N)
- 01/20/12 Senate: Passed Senate (39-Y 0-N)
- 02/13/12 House: Placed on Calendar
- 02/13/12 House: Read first time
- 02/13/12 House: Referred to Committee on Commerce and Labor
- 02/16/12 House: Reported from Commerce and Labor (22-Y 0-N)
- 02/20/12 House: Read second time
- 02/21/12 House: Read third time
- 02/21/12 House: Passed House BLOCK VOTE (100-Y 0-N)
- 02/21/12 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/23/12 Senate: Enrolled
- 02/23/12 Senate: Bill text as passed Senate and House (SB75ER)
- 02/23/12 Senate: Signed by President
- 02/23/12 House: Signed by Speaker
- 03/08/12 Governor: Approved by Governor-Chapter 187 (effective 7/1/12)
- 03/08/12 Governor: Acts of Assembly Chapter text (CHAP0187)