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2009 Senate Bill 464: Comply with federal mortgage loan officer licensure mandate
Introduced by Sen. Dennis Olshove D- on April 23, 2009
To amend the state mortgage brokers and lenders act to comply with the federal “Secure and Fair Enforcement for Mortgage Licensing” Act of 2008 (“SAFE Act”) mandate. This creates a nationwide mortgage licensing registry; specifies for loan officer testing and training qualifications, and their continuing education courses; mandates criminal background checks and fingerprinting; and more. Official Text and Analysis.
Referred to the Senate Banking and Financial Institutions Committee on April 23, 2009
Reported in the Senate on May 19, 2009
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on June 23, 2009
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote in the Senate on June 23, 2009
Received in the House on June 24, 2009
Referred to the House Banking and Financial Services Committee on June 24, 2009