IN SB0334 | 2014 | Regular Session
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Passed on March 25 2014 - 100% progression
Action: 2014-03-25 - Signed by the Governor
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Passed on March 25 2014 - 100% progression
Action: 2014-03-25 - Signed by the Governor
Text: Latest bill text (Enrolled) [PDF]
Summary
Provides that a federal savings bank that is exempt from the Indiana statute concerning the licensing of creditors in first lien mortgage transactions may voluntarily register with the department of financial institutions (department) for the purpose of sponsoring, under an exclusive written agreement, licensed mortgage loan originators as independent agents if the federal savings bank does the following: (1) Assumes responsibility for and reasonably supervises the activities of the licensed mortgage loan originators. (2) Complies with certain requirements under the statute concerning: (A) registering with the Nationwide Mortgage Licensing System and Registry (NMLSR); (B) maintaining a surety bond; (C) submitting reports to the NMLSR; and (D) filing financial statements with the department. (3) Cooperates with the department, and provides access to records and documents, as required by the department to examine the activities of the licensed mortgage loan originators. (4) Agrees to comply as the director of the department determines necessary to ensure that the activities of the licensed mortgage loan originators comply with specified federal law and with Indiana law. Provides that a licensed loan originator sponsored by a federal savings bank under the provisions must: (1) hold a valid insurance producer license; and (2) sell, solicit, or negotiate insurance exclusively for a licensed insurance company that is a subsidiary of the federal savings bank's parent company. Makes conforming amendments to similar provisions in the Uniform Consumer Credit Code concerning the licensing of creditors in subordinate lien mortgage transactions.
Title
Mortgage lending.
Sponsors
Sen. Greg Walker [R] | Sen. James Smith [R] | Sen. Frank Mrvan [D] | Rep. Mike Speedy [R] |
Roll Calls
2014-03-05 - Senate - Senate - Motion to Concur in House Amendments (Y: 49 N: 0 NV: 0 Abs: 1) [PASS]
2014-02-25 - House - House Floor - (Y: 93 N: 0 NV: 3 Abs: 4) [PASS]
2014-02-19 - House - House Committee on Financial Institutions - Roll Call 033403 (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-04 - Senate - Senate Floor - (Y: 48 N: 0 NV: 0 Abs: 2) [PASS]
2014-01-30 - Senate - Senate Committee on Financial Institutions - Roll Call 033401 (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-25 - House - House Floor - (Y: 93 N: 0 NV: 3 Abs: 4) [PASS]
2014-02-19 - House - House Committee on Financial Institutions - Roll Call 033403 (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-04 - Senate - Senate Floor - (Y: 48 N: 0 NV: 0 Abs: 2) [PASS]
2014-01-30 - Senate - Senate Committee on Financial Institutions - Roll Call 033401 (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2014-03-25 | Senate | Signed by the Governor |
2014-03-25 | Senate | Public Law 103 |
2014-03-18 | Senate | Signed by the President of the Senate |
2014-03-14 | Senate | Signed by the President Pro Tempore |
2014-03-14 | House | Signed by the Speaker |
2014-03-12 | House | Joint Rule 20 technical correction adopted by the House |
2014-03-12 | Senate | Joint Rule 20 technical correction adopted by the Senate |
2014-03-05 | Senate | Motion to Concur in House Amendments: prevailed; Roll Call 360: yeas 49 and nays 0 |
2014-02-25 | House | Returned to the Senate with amendments |
2014-02-25 | House | Third reading: Passed: Roll Call 281: yeas 93 and nays 0 |
2014-02-24 | House | Second reading: engrossed. |
2014-02-20 | House | Committee report: amend do pass, adopted. |
2014-02-10 | House | First Reading: Referred to Financial Institutions |
2014-02-04 | Senate | Representative Speedy added as cosponsor. |
2014-02-04 | Senate | Representative Burton added sponsor. |
2014-02-04 | Senate | Referred to the House |
2014-02-04 | Senate | Third reading: Passed: Roll Call 182: yeas 48 and nays 0 |
2014-02-04 | Senate | Senator Mrvan added as coauthor. |
2014-02-04 | Senate | Senator Smith added as second author. |
2014-02-03 | Senate | Second reading: amended, ordered engrossed |
2014-02-03 | Senate | SB 334 Amendment #1 (Walker), prevailed. |
2014-01-30 | Senate | Committee report: amend do pass, adopted. |
2014-01-14 | Senate | First Reading: Referred to Financial Institutions |
2014-01-14 | Senate | Authored by Senator Walker. |