Relating to: the minimum net worth requirement for licensed mortgage brokers.
AB 313 would increase the minimum net worth requirement for licensed mortgage brokers in California. This change directly affects mortgage brokers seeking or maintaining their license, requiring them to hold a higher amount of personal assets. The bill's key provision raises the net worth threshold to ensure brokers have greater financial stability, aiming to protect consumers through stronger financial safeguards.
Bill status
failed
1 of 4 stages cleared
Introduction
Jun 2025
Committee Review
Floor Vote
Governor
Introduced Jun 6, 2025
Last action Mar 23, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
10
Key actions
2
Committee
3
Jan 8, 2026
Lower · Passed
Placed on calendar 1-13-2026 by Committee on Rules
lower
Oct 8, 2025
Committee
Referred to committee on Rules
lower
Oct 8, 2025
Lower · Passed
Report passage recommended by Committee on Financial Institutions, Ayes 5, Noes 3
lower
Jun 6, 2025
Introduced
Introduced by Representatives Brooks, Franklin, Goodwin, Green, Knodl, Kreibich, O'Connor, Piwowarczyk and Prado;
cosponsored by Senators Stafsholt and Kapenga
lower
9 primary · 0 co-sponsors
Sponsors
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