Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the uniform securities act (2002). Amends secs. 401 & 402 of 2008 PA 551 (MCL 451.2401 & 451.2402). TIE BAR WITH: HB 6177'26

HB 6191 amends Michigan's Uniform Securities Act to clarify and update exemptions from broker-dealer registration requirements. The bill specifically addresses the relationship between the state's securities laws and the Residential Mortgage Licensing and Supervision Act, ensuring that mortgage brokers, lenders, and servicers licensed under the latter are properly recognized as exempt from the former. It also refines rules regarding foreign broker-dealers conducting business with individuals in Michigan and outlines conditions under which agents may operate without separate registration. These changes aim to align the state's securities regulations with current federal standards and existing mortgage licensing frameworks.