Bill Text: HI HB1096 | 2016 | Regular Session | Amended
Bill Title: Residential Mortgage Loans; Mortgage Loan Originator Companies; Posted Business Hours; Regular Business Hours
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2016-06-30 - Act 144, 06/29/2016 (Gov. Msg. No. 1246). [HB1096 Detail]
Download: Hawaii-2016-HB1096-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1096 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
H.D. 2 |
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STATE OF HAWAII |
S.D. 1 |
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A BILL FOR AN ACT
RELATING TO THE SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 454F-10.5, Hawaii Revised Statutes, is amended by amending subsection (g) to read as follows:
"(g) The principal place of business and
each branch office of the mortgage loan originator company shall be identified
in NMLS to consumers as a location at which the licensee holds itself out as a
mortgage loan originator company. Each such location shall be open for
business to the public during posted business hours, at least some of which
shall be during regular business hours. If a location is in a commercial
building, then the business hours shall be posted on or adjacent to the main
office door of the mortgage loan originator company's location, and visible to
the public from outside the location. If a location is not in a commercial
building, or such posting is not permitted by the commercial building, then the
business hours shall be posted on the home page of the mortgage loan originator
company's website, along with the address and phone number of the location.
Business hours, whether posted at a location or on a mortgage loan originator
company website, shall be displayed in a clear, conspicuous, and accurate
manner [to inform] that informs the consumer when the location
will be open."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2016.
Report Title:
Residential Mortgage Loans; Mortgage Loan Originator Companies; Posted Business Hours; Regular Business Hours
Description:
Specifies that mortgage loan originator companies shall be open for business to the public during posted business hours, at least some of which shall be during regular business hours. (SD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
