CS/HB 7099: Mortgage Brokering and Mortgage Lending
GENERAL BILL by Government Operations Appropriations Committee ; Insurance, Business, and Financial Affairs Policy Committee ; Patterson ; (CO-INTRODUCERS) Workman
Mortgage Brokering and Mortgage Lending; Authorizes FSC to enforce compliance with S.A.F.E. Mortgage Licensing Act of 2008; authorizes OFR to participate in Nationwide Mortgage Licensing System & Registry; prohibits unfair & deceptive advertising relating to mortgage brokering & lending; revises provisions relating to who is exempt from loan originator or mortgage broker licensing & regulation; provides for licensure of mortgage brokers, etc.
Last Action: 5/1/2009 House - Substituted CS/CS/SB 2226; Laid on Table, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241) -HJ 01307
Bill Text: Web Page | PDF
Bill History
| Date | Chamber | Action |
|---|---|---|
| 3/27/2009 | House |
• Filed; Introduced -HJ 00281 |
| 4/8/2009 | House |
• Referred to Government Operations Appropriations (CGHC) -HJ 00378 |
| 4/9/2009 | House |
• On Committee agenda-- Government Operations Appropriations (CGHC), 04/13/09, 12:00 pm, 116-K |
| 4/13/2009 | House |
• CS by- Government Operations Appropriations (CGHC); YEAS 7 NAYS 0 -HJ 00477 |
| 4/16/2009 | House |
• CS read 1st time on 04/16/09 -HJ 00473; CS filed |
| 4/21/2009 | House |
• Placed on Calendar -HJ 00637 |
| 4/23/2009 | House |
• Placed on Special Order Calendar; Read 2nd time -HJ 00728; Amendment(s) adopted -HJ 00728 |
| 4/27/2009 | House |
• Temporarily postponed, on 3rd Reading -HJ 00888 |
| 4/28/2009 | House |
• Temporarily postponed, on 3rd Reading -HJ 01032 |
| 4/29/2009 | House |
• Temporarily postponed, on 3rd Reading -HJ 01079 |
| 5/1/2009 | House |
• Substituted CS/CS/SB 2226; Laid on Table, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241) -HJ 01307 |
Related Bills
| Bill Number | Subject | Filed By | Relationship | Last Action and Location |
|---|---|---|---|---|
| H 7101 | Trust Funds | Insurance, Business, and Financial Affairs Policy Committee | Linked | Last Action: 5/2/2009 S Indefinitely postponed and withdrawn from consideration; Died in Messages, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241) |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Business, and Financial Affairs Policy Committee | Linked | Last Action: 5/2/2009 S Indefinitely postponed and withdrawn from consideration; Died in Messages, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241) |
| S 2226 (e1) | Banking and Insurance | Similar | Last Action: 6/29/2009 Approved by Governor; Chapter No. 2009-241 | |
| S 1940 | Mortgage Guaranty TF/Financial Regulation Office [CPSC] | Fasano | Compare | 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 | Compare | 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) |
Bill Text
| Version | Posted | Format |
|---|---|---|
| H 7099 Filed | 3/27/2009 1:36 PM | Web Page | PDF |
| H 7099 c1 | 4/16/2009 6:02 PM | Web Page | PDF |
| H 7099 e1 | 4/23/2009 3:16 PM | Web Page | PDF |
Committee Amendments
Bill Analyses
| Type | Analysis | Author | Posted | Format |
|---|---|---|---|---|
| Bill Analysis | H 7099 | Government Operations Appropriations Committee (Post-Meeting) | ||
| Bill Analysis | H 7099 | Insurance, Business, and Financial Affairs Policy Committee (Post-Meeting) | ||
| Bill Analysis | H 7099 | Government Operations Appropriations Committee (Post-Meeting) |
Vote History - Committee
No Committee Vote History AvailableVote History - Floor
No Vote History AvailableCitations - 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.
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