HB 570 Mortgage loan originators; exempts from licensing employees of bona fide nonprofit organizations.
Daniel W. Marshall, III | all patrons    ...    notes
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Summary as passed House: (all summaries)

Mortgage loan originators; bona fide nonprofit organizations.  Exempts employees of bona fide nonprofit organizations from licensing and registration requirements applicable to mortgage loan originators. The State Corporation Commission is directed to prescribe, by regulation, procedures and criteria to be used to determine whether an organization is a bona fide nonprofit organization. In doing so, the Commission shall consider criteria adopted by the Consumer Financial Protection Bureau or other federal agency with rulemaking authority under the Secure and Fair Enforcement for Mortgage Licensing Act. The measure includes technical changes. This measure is a recommendation of the Virginia Housing Commission. This bill is identical to SB 75.

Full text:
01/10/12  House: Prefiled and ordered printed; offered 01/11/12 12102137D  pdf | impact statement
01/24/12  House: Committee substitute printed 12104315D-H1  pdf | impact statement
02/17/12  House: Bill text as passed House and Senate (HB570ER)  pdf | impact statement
03/01/12  Governor: Acts of Assembly Chapter text (CHAP0052)  pdf

Status:
01/10/12  House: Prefiled and ordered printed; offered 01/11/12 12102137D
01/10/12  House: Referred to Committee on Commerce and Labor
01/24/12  House: Reported from Commerce and Labor with substitute (21-Y 0-N)
01/24/12  House: Committee substitute printed 12104315D-H1
01/26/12  House: Read first time
01/27/12  House: Read second time
01/27/12  House: Committee substitute agreed to 12104315D-H1
01/27/12  House: Engrossed by House - committee substitute HB570H1
01/30/12  House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
01/30/12  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
01/31/12  Senate: Constitutional reading dispensed
01/31/12  Senate: Referred to Committee on Commerce and Labor
02/13/12  Senate: Reported from Commerce and Labor (15-Y 0-N)
02/14/12  Senate: Constitutional reading dispensed (40-Y 0-N)
02/15/12  Senate: Read third time
02/15/12  Senate: Passed Senate (40-Y 0-N)
02/17/12  House: Enrolled
02/17/12  House: Bill text as passed House and Senate (HB570ER)
02/17/12  House: Signed by Speaker
02/20/12  Senate: Signed by President
03/01/12  Governor: Approved by Governor-Chapter 52 (effective 7/1/12)
03/01/12  Governor: Acts of Assembly Chapter text (CHAP0052)