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HB 1085 Hawaii House · 2017 Regular Session

RELATING TO MORTGAGE LOAN ORIGINATION.

Summary
Clarifies and updates requirements under chapter 454F, Hawaii Revised Statutes, for mortgage loan origination. Clarifies persons subject to criminal history disclosures and criminal history background checks on applications for licensure and change of control of the licensee, and when a person is presumed to control a mortgage loan originator company (MLOC). Clarifies responsibilities of a "qualified individual", amends the definition, and requires an exempt sponsoring MLOC to have a qualified individual and a principal place of business in the State. Clarifies supervisory requirements of nonprofit organizations under chapter 454F, Hawaii Revised Statutes, and when a nonprofit employee is exempt from registration and licensure as a mortgage loan originator. Clarifies the applicable fee for a criminal history background check. Defines "executive officer". Effective July 1, 2112. (HB1085 HD1)
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2017
Committee Review
Floor Vote
Governor
Introduced Jan 23, 2017 Last action Feb 17, 2017
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
9
Key actions
2
Committee
4
Feb 17, 2017
Committee
Reported from CPC (Stand. Com. Rep. No. 549) as amended in HD 1, recommending passage on Second Reading and referral to FIN.
legislature
Feb 13, 2017
Legislature · Passed
The committees on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 9 Ayes: Representative(s) McKelvey, Ichiyama, Aquino, Ito, Say, Takayama, Todd, Yamane, Fukumoto; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.
legislature
Feb 7, 2017
Legislature · Passed
The committee(s) on CPC recommend(s) that the measure be deferred until 02-13-17.
legislature
Jan 27, 2017
Committee
Referred to CPC, FIN, referral sheet 5
legislature
Jan 23, 2017
Introduced
Pending introduction.
legislature
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.