Senate Bill 2226 (2009) - The Florida Senate

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CS/CS/SB 2226: Mortgage Brokering and Lending [CPSC]

GENERAL BILL by Judiciary ; Banking and Insurance ; Banking and Insurance ; (CO-INTRODUCERS) Fasano ; Lynn ; Richter

Mortgage Brokering and Lending [CPSC]; Authorizes the Financial Services Commission to adopt rules relating to compliance with the S.A.F.E. Mortgage Licensing Act of 2008. Provides exemptions from part I, II, and III of ch. 494, F.S., relating to the licensing and regulation of loan originators, mortgage brokers, and mortgage lenders. Exempts certain attorneys from the definition of "foreclosure-rescue consultant," etc.

Effective Date: 07/01/2009 except as otherwise provided
Last Action: 6/29/2009 - Approved by Governor; Chapter No. 2009-241
Bill Text: Web Page | PDF

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Bill History

Date	Chamber	Action
2/26/2009	Senate	• SPB 7058 submitted as a committee bill (SB 2226) by Banking and Insurance; Filed
3/10/2009	Senate	• Referred to Banking and Insurance; Judiciary; Finance and Tax; General Government Appropriations -SJ 00174
3/19/2009	Senate	• Introduced -SJ 00174
3/20/2009	Senate	• On Committee agenda-- Banking and Insurance, 03/25/09, 8:00 am, 412-K
3/25/2009	Senate	• CS by Banking and Insurance; YEAS 8 NAYS 0 -SJ 00252; CS read 1st time on 04/01/09 -SJ 00267
3/26/2009	Senate	• Pending reference review under Rule 4.7(2) - (Committee Substitute)
3/30/2009	Senate	• Now in Judiciary -SJ 00252
4/8/2009	Senate	• On Committee agenda-- Judiciary, 04/15/09, 3:00 pm, 110-S
4/15/2009	Senate	• CS/CS by Judiciary; YEAS 8 NAYS 0 -SJ 00413; CS read 1st time on 04/21/09 -SJ 00432
4/17/2009	Senate	• Pending reference review under Rule 4.7(2) - (Committee Substitute); Remaining references corrected to Policy & Steering Committee on Ways and Means -SJ 00442; Now in Policy & Steering Committee on Ways and Means; On Committee agenda-- Finance and Tax, 04/20/09, 1:30 pm, 301-S --Not received; On Committee agenda-- Policy & Steering Committee on Ways and Means, 04/21/09, 1:30 pm, 412-K --Not considered
4/23/2009	Senate	• On Committee agenda-- Policy & Steering Committee on Ways and Means, 04/23/09, 2:02 pm, 412-K; Favorable by- Policy & Steering Committee on Ways and Means; YEAS 21 NAYS 0 -SJ 00507; Placed on Calendar, on 2nd reading -SJ 00507
4/28/2009	Senate	• Placed on Special Order Calendar; Read 2nd time -SJ 00688; Amendment(s) adopted (953602, 788172, 577302, 212376) -SJ 00688; Ordered engrossed -SJ 00690
4/29/2009	Senate	• Read 3rd time -SJ 00750; CS passed as amended; YEAS 39 NAYS 0 -SJ 00751
4/29/2009	House	• In Messages
5/1/2009	House	• Received, referred to Calendar -HJ 01306; Read 2nd time -HJ 01307; Read 3rd time -HJ 01307; Substituted for CS/HB 7099 -HJ 01307; CS passed; YEAS 119 NAYS 0 -HJ 01308
5/1/2009	Senate	• Ordered enrolled -SJ 01111
6/15/2009		• Signed by Officers and presented to Governor
6/29/2009		• Approved by Governor; Chapter No. 2009-241

Related Bills

Bill Number	Subject	Filed By	Relationship	Last Action and Location
S 1940	Mortgage Guaranty TF/Financial Regulation Office [CPSC]	Fasano	Linked	Last Action: 5/2/2009 S Indefinitely postponed and withdrawn from consideration; Died in Committee on Policy & Steering Committee on Ways and Means, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241)
S 2652	Pub. Rec./Office of Financial Regulation [CPSC]	Fasano	Linked	Last Action: 5/2/2009 S Indefinitely postponed and withdrawn from consideration; Died on Calendar, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241)
H 7099 (e1)	Mortgage Brokering and Mortgage Lending	Patterson	Similar	Last Action: 5/1/2009 H Substituted CS/CS/SB 2226; Laid on Table, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241) -HJ 01307
H 7101	Trust Funds	Insurance, Business, and Financial Affairs Policy Committee	Compare	Last Action: 5/2/2009 S Indefinitely postponed and withdrawn from consideration; Died in Messages, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241)
H 7115	Pub. Rec./Office of Financial Regulation	Insurance, Business, and Financial Affairs Policy Committee	Compare	Last Action: 5/2/2009 S Indefinitely postponed and withdrawn from consideration; Died in Messages, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241)

Bill Text

Version	Posted	Format
S 2226 Filed	2/26/2009 5:48 PM	Web Page \| PDF
S 2226 c1	3/26/2009 2:37 PM	Web Page \| PDF
S 2226 c2	4/17/2009 12:13 PM	Web Page \| PDF
S 2226 e1	4/28/2009 2:09 PM	Web Page \| PDF
S 2226 er	5/1/2009 4:41 PM	Web Page \| PDF

S 2226 Filed
PCS and Amendments	Sponsor	Filed	Last Committee Action	Format
103612 - Proposed Committee Substitute	Banking and Insurance	3/23/2009 12:59 PM	Favorable 3/26/2009	Web Page PDF
956600 - Amendment (103612)	Banking and Insurance (Fasano)	3/25/2009 7:34 AM	Favorable 3/26/2009	Web Page PDF

Amendments to Proposed Committee Substitutes (PCSs) are located on the PCS tab.

Committee Amendments

S 2226 c1
Amendment	Sponsor	Filed	Last Committee Action	Format
283190 - Amendment	Judiciary (Richter)	4/14/2009 4:43 PM	Replaced by Committee Substitute 4/15/2009	Web Page PDF

S 2226 c2
Amendment	Sponsor	Filed	Last Committee Action	Format
369678 - Amendment	Policy and Steering Committee on Ways and Means (Haridopolos)	4/20/2009 3:51 PM		Web Page PDF

Floor Amendments

S 2226 c2
Amendments	Sponsor	Filed	Last Floor Action	Format
577302 - Amendment	Richter	4/27/2009 1:59 PM	Senate: Adopted 4/28/2009	Web Page PDF
788172 - Amendment	Richter	4/27/2009 1:59 PM	Senate: Adopted 4/28/2009	Web Page PDF
212376 - Amendment	Richter	4/27/2009 2:00 PM	Senate: Adopted 4/28/2009	Web Page PDF
953602 - Amendment	Richter	4/27/2009 2:00 PM	Senate: Adopted 4/28/2009	Web Page PDF

S 2226 e1
Amendments	Sponsor	Filed	Format
617075 - Amendment	Workman	4/29/2009 6:48 PM	Web Page PDF
724873 - Amendment	Workman	4/29/2009 6:48 PM	Web Page PDF
039173 - Amendment	Workman	4/29/2009 6:48 PM	Web Page PDF
415777 - Amendment	Workman	4/29/2009 6:49 PM	Web Page PDF
875523 - Amendment	Workman	4/29/2009 6:49 PM	Web Page PDF
048405 - Amendment	Workman	4/29/2009 6:49 PM	Web Page PDF
721873 - Amendment	Workman	4/29/2009 6:49 PM	Web Page PDF
036173 - Amendment	Workman	4/29/2009 6:49 PM	Web Page PDF

Bill Analyses

Type	Analysis	Author	Posted	Format
Bill Analysis	S 2226	Banking and Insurance (Post-Meeting)		PDF
Bill Analysis	S 2226 (PCS 103612)	Banking and Insurance (Post-Meeting)		PDF
Bill Analysis	S 2226	Finance and Tax (Post-Meeting)	4/17/2009 12:00 AM	PDF
Bill Analysis	S 2226	Judiciary (Post-Meeting)		PDF
Bill Analysis	S 2226	Policy and Steering Committee on Ways and Means (Post-Meeting)		PDF

Vote History - Committee

Version	Committee	Date	Result
S 2226 Filed	Banking and Insurance	3/25/2009 8:00 AM	8 Yeas - 0 Nays
S 2226 c1	Judiciary	4/15/2009 3:00 PM	8 Yeas - 0 Nays
S 2226 c2	Policy and Steering Committee on Ways and Means	4/23/2009 2:02 PM	21 Yeas - 0 Nays

Vote History - Floor

Vote	Date	Chamber	Result
S 2226 e1	4/29/2009 10:43 AM	Senate	39 Yeas - 0 Nays
S 2226 e1	5/1/2009 12:58 PM	House	119 Yeas - 0 Nays

Citations - Statutes (66)

Citation	Catchline	Location in Bill Location In Bill Help
201.23	Foreign notes and other written obligations exempt.
420.507	Powers of the corporation.
494.001	Definitions.
494.0011	Powers and duties of the commission and office.
494.00115
494.00135
494.0014	Cease and desist orders; administrative fines; refund orders.
494.00165	Prohibited advertising; record requirements.
494.0017	Regulatory Trust Fund.
494.00172
494.0018	Penalties.
494.0019	Liability in case of unlawful transaction.
494.002	Statutory or common-law remedies.
494.0023	Conflicting interest.
494.0025	Prohibited practices.
494.00255
494.0026	Disposition of insurance proceeds.
494.0028	Arbitration.
494.0029	Mortgage business schools.
494.00295	Professional continuing education.
494.00296
494.003	Exemptions.
494.0031	Licensure as a mortgage brokerage business.
494.00312
494.00313
494.0032	Renewal of mortgage brokerage business license or branch office license.
494.00321
494.00322
494.0033	Mortgage broker's license.
494.00331	Mortgage broker association.
494.0034	Renewal of mortgage broker's license.
494.0035	Principal broker and branch broker requirements.
494.0036	Mortgage brokerage business branch offices.
494.0038	Mortgage broker disclosures.
494.0039	Principal place of business requirements.
494.004	Requirements of licensees.
494.0041	Administrative penalties and fines; license violations.
494.0042	Brokerage fees.
494.00421	Fees earned upon obtaining a bona fide commitment.
494.0043	Requirements for brokering loans to noninstitutional investors.
494.006	Exemptions.
494.0061	Mortgage lender's license requirements.
494.00611
494.00612
494.0062	Correspondent mortgage lender's license requirements.
494.0063	Audited financial statements.
494.0064	Renewal of mortgage lender's license; branch office license renewal.
494.0065	Saving clause.
494.0066	Branch offices.
494.00665
494.0067	Requirements of licensees under ss. 494.006-494.0077.
494.0068	Loan application process.
494.0069	Lock-in agreement.
494.007	Commitment process.
494.0071	Expiration of lock-in agreement or commitment.
494.0072	Administrative penalties and fines; license violations.
494.00721	Net worth.
494.0073	Mortgage lender or correspondent mortgage lender when acting as a mortgage brokerage business.
494.0075	Requirements for selling loans to noninstitutional investors.
494.0076	Servicing audits.
494.0077	Other products and services.
501.1377	Violations involving homeowners during the course of residential foreclosure proceedings.
520.52	Licensees.
520.63	Licensees.
607.0505	Registered agent; duties.
687.12	Interest rates; parity among licensed lenders or creditors.

Citations - Constitution (0)

No Constitutional citations.

Citations - Chapter Law (0)

No Chapter Law citations.