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2019 House Bill 5084: Revise mortgage loan originator license detail

Public Act 141 of 2019

Introduced by Rep. Diana Farrington (R) on October 8, 2019
To permit an individual who has applied for a license to act as a “mortgage loan originator” but doesn’t have it yet to do the job anyway under certain circumstances specified in the bill.   Official Text and Analysis.
Referred to the House Financial Services Committee on October 8, 2019
Reported in the House on October 16, 2019
Refer to the Committee on Ways and Means with the recommendation that the substitute (H-1) be adopted.
Referred to the House Ways and Means Committee on October 16, 2019
Reported in the House on October 22, 2019
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Amendment offered by Rep. Diana Farrington (R) on October 29, 2019
To revise a detail of the "reciprocity" provisions that facilitate licensees in other states practicing or getting a license in Michigan.
The amendment passed by voice vote in the House on October 29, 2019
Amendment offered by Rep. Diana Farrington (R) on October 29, 2019
To establish that if enacted the bill will go into effect on Nov. 24, 2019.
The amendment passed by voice vote in the House on October 29, 2019
To permit an individual who has applied for a license to act as a “mortgage loan originator” but doesn’t have it yet to do the job anyway under certain circumstances specified in the bill. This is also intended to bring Michigan law into alignment with federal law in this area.
Received in the Senate on October 30, 2019
Referred to the Senate Insurance and Banking Committee on October 30, 2019
Reported in the Senate on November 7, 2019
With the recommendation that the bill pass.
Signed by Gov. Gretchen Whitmer on December 4, 2019

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