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2013 SESSION
HB 1803 Mortgage loan originators; conforms Virginia statutory law to federal regulations.
Introduced by: Daniel W. Marshall, III | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Mortgage loan originators. Conforms Virginia statutory law to federal regulations implementing the Secure and Fair Enforcement for Mortgage Licensing Act. Changes include (i) expanding the definition of a mortgage loan originator to include an individual who represents to the public that he can or will take an application for, or offer or negotiate the terms of, a residential mortgage loan; (ii) clarifying that when an individual acts as a loan originator in financing the sale of his own residence, he is exempt from licensing requirements; (iii) specifying conditions under which an attorney engaged in mortgage loan origination activities is exempt from licensing requirements; (iv) removing the definition of "federal banking agencies"; and (v) defining the term "employee." This bill is a recommendation of the Virginia Housing Commission. This bill is identical to SB 994.
FULL TEXT
- 01/08/13 House: Prefiled and ordered printed; offered 01/09/13 13103428D pdf | impact statement
- 01/22/13 House: Printed as engrossed 13103428D-E pdf | impact statement
- 02/11/13 House: Bill text as passed House and Senate (HB1803ER) pdf | impact statement
- 02/20/13 Governor: Acts of Assembly Chapter text (CHAP0020) pdf
AMENDMENTS
HISTORY
- 01/08/13 House: Prefiled and ordered printed; offered 01/09/13 13103428D
- 01/08/13 House: Referred to Committee on Commerce and Labor
- 01/17/13 House: Reported from Commerce and Labor with amendment (22-Y 0-N)
- 01/21/13 House: Read first time
- 01/22/13 House: Read second time
- 01/22/13 House: Committee amendment agreed to
- 01/22/13 House: Engrossed by House as amended HB1803E
- 01/22/13 House: Printed as engrossed 13103428D-E
- 01/23/13 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 01/23/13 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 01/24/13 Senate: Constitutional reading dispensed
- 01/24/13 Senate: Referred to Committee on Commerce and Labor
- 02/04/13 Senate: Reported from Commerce and Labor (16-Y 0-N)
- 02/05/13 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/06/13 Senate: Read third time
- 02/06/13 Senate: Passed Senate (40-Y 0-N)
- 02/11/13 House: Enrolled
- 02/11/13 House: Bill text as passed House and Senate (HB1803ER)
- 02/11/13 House: Signed by Speaker
- 02/12/13 Senate: Signed by President
- 02/20/13 Governor: Approved by Governor-Chapter 20 (effective 7/1/13)
- 02/20/13 Governor: Acts of Assembly Chapter text (CHAP0020)