West Virginia House Bill 4285 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on April 22 2010 - 100% progression
Action: 2010-06-10 - Effective Date

The purpose of this bill is to improve the licensing and regulation of mortgage lenders, brokers and loan originators by: allowing the Commissioner of Banking to reduce or waive application fees, bond amounts, or net worth requirements for nonprofit business entities, including community housing development agencies and their employees, prevent the assignment or transfer of a mortgage loan originator license without notice to the commissioner, increase the amount of prelicensing education by two hours to ensure that all loan originators have received training in West Virginia law and regulations; providing an enforcement procedure for the commissioner to follow with mortgage loan originators; allowing persons who are not required to obtain a license as a mortgage lender or broker or regulated consumer lender who employ mortgage loan originators to register with the Nationwide Mortgage Licensing System and Registry and provide a bond for their loan originators.

Relating to the licensing of residential mortgage brokers, lenders and loan originators by the Division of Banking

Del. Tom Azinger [R]

Del. Clif Moore [D]

Del. Douglas Reynolds [D]

Del. Ron Walters [R]

Date	Chamber	Action
2010-06-10		Effective Date
2010-04-22		Chapter 13, Acts, 2010
2010-04-01		Approved by Governor 4/1/10
2010-03-20		Approved by Governor 4/1/10 - House Journal
2010-03-20		Approved by Governor 4/1/10 - Senate Journal
2010-03-20		To Governor 3/26/10 - Senate Journal
2010-03-20		To Governor 3/26/10 - House Journal
2010-03-26		To Governor 3/26/10
2010-03-13		House received Senate message
2010-03-12		Completed legislative action
2010-03-12		Communicated to House
2010-03-12		Passed Senate (Roll No. 12)
2010-03-12		Read 3rd time
2010-03-12		On 3rd reading
2010-03-11		Read 2nd time
2010-03-11		On 2nd reading
2010-03-10		Read 1st time
2010-03-10		On 1st reading
2010-03-09		2nd reference dispensed
2010-03-09		Unanimous consent
2010-03-09		Reported do pass, but first to Finance
2010-03-04		To Banking and Insurance
2010-03-04		To Banking and Insurance then Finance
2010-03-04		Introduced in Senate
2010-03-03		Communicated to Senate
2010-03-03		Passed House (Roll No. 167)
2010-03-03		Read 3rd time
2010-03-03		On 3rd reading, Special Calendar
2010-03-02		Read 2nd time
2010-03-02		On 2nd reading, Special Calendar
2010-03-01		Read 1st time
2010-03-01		From House Calendar, 1st reading, placed on Special Calendar
2010-02-26		By substitute, do pass
2010-02-11		To House Judiciary
2010-02-11		With amendment, do pass, but first to Judiciary
2010-02-02		To House Banking and Insurance
2010-02-02		Introduced in House
2010-02-02		To Banking and Insurance then Judiciary
2010-02-02		Filed for introduction

SB431 (Same As) 2010-02-01 - To Banking and Insurance

Chapter	Article	Section	Citation Type	Statute Text
31	17	4	Amended Code	Citation Text
31	17A	12	Amended Code	Citation Text
31	17A	13	Amended Code	Citation Text
31	17A	2	Amended Code	Citation Text
31	17A	3	Amended Code	Citation Text
31	17A	4	Amended Code	Citation Text
31	17A	6	Amended Code	Citation Text
31	17A	9	Amended Code	Citation Text

Type	Source
Summary	http://www.legis.state.wv.us/Bill_Status/Bills_history.cfm?input=4285&year=2010&sessiontype=RS&btype=bill