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2012 SESSION
HB 570 Mortgage loan originators; exempts from licensing employees of bona fide nonprofit organizations.
Introduced by: Daniel W. Marshall, III | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (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 SB 75.
FULL TEXT
- 01/10/12 House: Prefiled and ordered printed; offered 01/11/12 12102137D pdf | impact statement
- 01/24/12 House: Committee substitute printed 12104315D-H1 pdf | impact statement
- 02/17/12 House: Bill text as passed House and Senate (HB570ER) pdf | impact statement
- 03/01/12 Governor: Acts of Assembly Chapter text (CHAP0052) pdf
HISTORY
- 01/10/12 House: Prefiled and ordered printed; offered 01/11/12 12102137D
- 01/10/12 House: Referred to Committee on Commerce and Labor
- 01/24/12 House: Reported from Commerce and Labor with substitute (21-Y 0-N)
- 01/24/12 House: Committee substitute printed 12104315D-H1
- 01/26/12 House: Read first time
- 01/27/12 House: Read second time
- 01/27/12 House: Committee substitute agreed to 12104315D-H1
- 01/27/12 House: Engrossed by House - committee substitute HB570H1
- 01/30/12 House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 01/30/12 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 01/31/12 Senate: Constitutional reading dispensed
- 01/31/12 Senate: Referred to Committee on Commerce and Labor
- 02/13/12 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/14/12 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/15/12 Senate: Read third time
- 02/15/12 Senate: Passed Senate (40-Y 0-N)
- 02/17/12 House: Enrolled
- 02/17/12 House: Bill text as passed House and Senate (HB570ER)
- 02/17/12 House: Signed by Speaker
- 02/20/12 Senate: Signed by President
- 03/01/12 Governor: Approved by Governor-Chapter 52 (effective 7/1/12)
- 03/01/12 Governor: Acts of Assembly Chapter text (CHAP0052)