Virginia Senate Bill 118 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 24 2014 - 100% progression
Action: 2014-03-24 - Governor: Acts of Assembly Chapter text (CHAP0295)
Text: Latest bill text (Chaptered) [HTML]

Transitional mortgage loan originators; licensing. Authorizes the State Corporation Commission (SCC) to issue transitional mortgage loan originator licenses. Such a license allows an individual to engage in business as a mortgage loan originator for a period of no more than 120 days, during which time the individual may fulfill pre-licensing education and written test requirements and apply for a mortgage loan originator license. The SCC may issue a transitional mortgage loan originator license to an individual who is licensed to originate mortgage loans under the laws of another state or, to the extent permitted under the federal Secure and Fair Enforcement for Mortgage Licensing Act, to an individual who was a registered mortgage loan originator within two months prior to the date that the individual applied for a transitional mortgage loan originator license. An individual applying for a transitional mortgage loan originator license is not required to comply with prelicensing education requirements or pass a written test requirement. In addition, the Commission shall not issue a transitional mortgage loan originator license unless it (i) finds that the applicant has never had a mortgage loan originator license revoked by any governmental authority, has not been convicted of, or pled guilty or nolo contendere to, certain felonies, and has become registered through, and obtained a unique identifier from, the Nationwide Mortgage Licensing System and Registry and (ii) finds that the applicant is employed by a person licensed by the SCC as a mortgage lender or mortgage broker.

Mortgage loan originators; transitional licensing.

Sen. John Watkins [R]

2014-02-21 - House - House: VOTE: BLOCK VOTE PASSAGE #2 (98-Y 0-N) (Y: 100 N: 0 NV: 1 Abs: 0) [PASS]
2014-02-21 - House - House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (Y: 99 N: 0 NV: 2 Abs: 0) [PASS]
2014-02-18 - House - House: Reported from Commerce and Labor (21-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-07 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-05 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-03 - Senate - Senate: Reported from Commerce and Labor with substitute (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2014-03-24		Governor: Acts of Assembly Chapter text (CHAP0295)
2014-03-24		Governor: Approved by Governor-Chapter 295 (effective 7/1/14)
2014-02-27	Senate	Signed by President
2014-02-25	House	Signed by Speaker
2014-02-25	Senate	Bill text as passed Senate and House (SB118ER)
2014-02-25	Senate	Enrolled
2014-02-21	House	VOTE: BLOCK VOTE PASSAGE #2 (98-Y 0-N)
2014-02-21	House	Passed House BLOCK VOTE (98-Y 0-N)
2014-02-21	House	Reconsideration of House passage agreed to by House
2014-02-21	House	VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
2014-02-21	House	Passed House BLOCK VOTE (97-Y 0-N)
2014-02-21	House	Read third time
2014-02-20	House	Read second time
2014-02-18	House	Reported from Commerce and Labor (21-Y 0-N)
2014-02-12	House	Referred to Committee on Commerce and Labor
2014-02-12	House	Read first time
2014-02-12	House	Placed on Calendar
2014-02-07	Senate	Read third time and passed Senate (40-Y 0-N)
2014-02-06	Senate	Engrossed by Senate - committee substitute SB118S1
2014-02-06	Senate	Committee substitute agreed to 14104427D-S1
2014-02-06	Senate	Reading of substitute waived
2014-02-06	Senate	Read second time
2014-02-05	Senate	Constitutional reading dispensed (40-Y 0-N)
2014-02-03	Senate	Committee substitute printed 14104427D-S1
2014-02-03	Senate	Reported from Commerce and Labor with substitute (16-Y 0-N)
2013-12-30	Senate	Referred to Committee on Commerce and Labor
2013-12-30	Senate	Prefiled and ordered printed; offered 01/08/14 14102395D

HB954 (Same As) 2014-03-27 - Governor: Acts of Assembly Chapter text (CHAP0343)

Chapter	Article	Section	Citation Type	Statute Text
6	2	1700	(n/a)	See Bill Text
6	2	1701	(n/a)	See Bill Text
6	2	1702.1	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+SB118
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB118+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB118S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB118ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+CHAP0295+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+S02V0039+SB0118
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+SV0285SB0118+SB0118
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+SV0305SB0118+SB0118
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+H14V0126+SB0118
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+HV0874+SB0118
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+HV0916+SB0118