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.
Effective Date: 07/01/2009 except as otherwise provided
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
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
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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
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CS/HB 7099, Engrossed 1 (Current Bill Version) Posted 4/23/2009 at 3:16 PM
Bill Text: Web Page | PDF Analyses: None Related Bills (5)
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Insurance, Business, and Financial Affairs Policy Committee Linked Last Action: 5/2/2009 S Indefinitely postponed and withdrawn from consideration; Died in Messages, Link/Iden/Sim/Compare passed, refer to CS/CS/SB 2226 (Ch. 2009-241)
Location: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)
Location:S 2226 (e1) Banking and Insurance Similar Last Action: 6/29/2009 Approved by Governor; Chapter No. 2009-241
Location: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)
Location: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)
Location: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. -
CS/HB 7099, Committee Substitute 1 Posted 4/16/2009 at 6:02 PM
Bill Text: Web Page | PDF Analyses: Government Operations Appropriations Committee (Post-Meeting) (pdf)
Floor Amendments (1)
Amendment Sponsor Filed Last Floor Action Format 372667 - Amendment
Workman 4/22/2009
1:05 PMWeb Page
PDFCitations - 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. -
HB 7099, Original Filed Version Posted 3/27/2009 at 1:36 PM
Bill Text: Web Page | PDF Analyses: Government Operations Appropriations Committee (Post-Meeting) (pdf)
Insurance, Business, and Financial Affairs Policy Committee (Post-Meeting) (pdf)
Citations - Statutes (56)
Citation Catchline Location in Bill Location In Bill Help 494.001 Definitions. 494.0011 Powers and duties of the commission and office. 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 494.0028 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. 494.0077 Other products and services. 501.1377 Violations involving homeowners during the course of residential foreclosure proceedings.