Bill Text: HI HB1096 | 2016 | Regular Session | Introduced
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-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1096 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
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STATE OF HAWAII |
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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,
which shall be during regular business hours[.]; provided that the
mortgage loan originator company may also post language at each location that
specifies that members of the public are seen by appointment during posted
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 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 Statutory material to be repealed is bracketed and stricken.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 upon its approval.
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INTRODUCED BY: |
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Report Title:
Residential Mortgage Loans; Mortgage Loan Originator Companies; Posted Business Hours
Description:
Authorizes mortgage loan originator companies to post, at the company's principal place of business and each branch office, language specifying that members of the public are seen by appointment during posted business hours.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
