VA HB1153 | 2022 | Regular Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 14 2022 - 25% progression
Action: 2022-01-14 - Committee Referral Pending
Text: Latest bill text (Introduced) [HTML]

Summary

Mortgage brokers; dual compensation. Removes provisions prohibiting a person from acting as mortgage broker in connection with any real estate sales transaction in which such person has acted as a real estate broker or real estate salesperson and has received or will receive compensation in connection with such transaction. The bill provides that if a mortgage broker negotiates, places, or finds a mortgage loan and acts as a real estate broker or real estate salesperson in connection with the sale of the real estate that secures such loan, the mortgage broker is required to conspicuously provide to the borrower a written disclosure at the time the mortgage broker services are first offered to the borrower.

Tracking Information

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Title

Mortgage brokers; dual compensation.

Sponsors


History

DateChamberAction
2022-01-14HouseCommittee Referral Pending
2022-01-14HousePresented and ordered printed 22104174D

Code Citations

ChapterArticleSectionCitation TypeStatute Text
621616(n/a)See Bill Text
621627(n/a)See Bill Text
62888(n/a)See Bill Text

Virginia State Sources


Bill Comments

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