SB 179 California Senate · 2013-2014 Regular Session

Mortgage loan originators.

Summary

The California Finance Lenders Law and the California Residential Mortgage Lending Act define a "mortgage loan originator" as an individual who, for compensation or gain, or in the expectation of compensation or gain, takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan. The acts except certain individuals from the definition of mortgage loan originator. Existing law requires that mortgage loan originators be licensed and fulfill certain educational and other requirements. This bill would except from the definition of mortgage loan originator an individual who originates 5 or fewer residential mortgage loans secured by a manufactured home or mobilehome, as defined, in any 12-consecutive-month period.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2013

Committee Review

Floor Vote

Governor

Introduced Feb 6, 2013 Last action Feb 3, 2014

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 21, 2013

Committee

Re-referred to Com. on B. & F.I.

upper

Mar 19, 2013

Upper · Passed

From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

upper

Feb 14, 2013

Committee

Referred to Com. on RLS.

upper

1 primary · 0 co-sponsors