Bill Title: Amends the Residential Mortgage License Act of 1987. Provides that persons exempt from licensure as a federally chartered savings bank registered with the Nationwide Mortgage Licensing System and Registry may apply for an exempt company registration for the purpose of sponsoring one or more individuals subject to the mortgage loan originator licensing requirements of the Act. Establishes requirements for exempt company registration and denial, suspension, or revocation of the registration. Effective immediately.

Spectrum: Slight Partisan Bill (Republican 10-6)

Status: (Passed) 2013-08-16 - Public Act . . . . . . . . . 98-0492 [SB1667 Detail]

Text: Latest bill text (Chaptered) [HTML]

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