US Congress Senate Bill 3106 (Prior Session Legislation)

---

Spectrum: Bipartisan Bill
Status: Introduced on March 11 2010 - 25% progression, died in chamber
Action: 2010-03-11 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Text: Latest bill text (Introduced) [PDF]

Nonprofit Mortgage Licensing Clarification Act of 2010 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to permit a state to exempt from certain registration or licensing requirements any charitable organization exempt from federal tax (including their employees and agents acting as loan originators), if the organization: (1) executes loan originations in order to promote or facilitate homeownership for certain low-income, disabled, or other disadvantaged persons or families; (2) offers loans at interest rates lower than the bank prime loan rate, or that are no-interest loans or loans with interest rates significantly below those for loans to purchase generally available single-family housing; and (3) does not otherwise engage in the business of a loan originator or mortgage broker.

Nonprofit Mortgage Licensing Clarification Act of 2010

Sen. Jeff Bingaman [D-NM]	Sen. Sherrod Brown [D-OH]	Sen. Richard Burr [R-NC]	Sen. Saxby Chambliss [R-GA]
Sen. Al Franken [D-MN]	Sen. Kay Hagan [D-NC]	Sen. Johnny Isakson [R-GA]	Sen. Mike Johanns [R-NE]
Sen. Amy Klobuchar [D-MN]	Sen. Jeff Merkley [D-OR]

Date	Chamber	Action
2010-03-11		Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB4400 (Related) 2009-12-16 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/3106/all-info
Text	https://www.congress.gov/111/bills/s3106/BILLS-111s3106is.pdf