VA SB291 | 2020 | Regular Session
Note: Carry Foward to future SB291
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Engrossed on January 23 2020 - 50% progression, died in committee
Action: 2020-02-18 - Continued to 2021 in Labor and Commerce by voice vote
Pending: House Labor and Commerce Committee
Text: Latest bill text (Prefiled) [HTML]
Status: Engrossed on January 23 2020 - 50% progression, died in committee
Action: 2020-02-18 - Continued to 2021 in Labor and Commerce by voice vote
Pending: House Labor and Commerce Committee
Text: Latest bill text (Prefiled) [HTML]
Summary
Mortgage brokers; prohibition on dual compensation. Clarifies the existing provisions that prohibit a licensed mortgage broker from negotiating, placing, or finding a mortgage loan that will be used to finance the purchase of residential property if the mortgage broker or its affiliate is acting as a real estate broker, agent, salesman, or firm in connection with the sale of the property that will secure the loan and receiving a commission or other thing of value for such services. Mortgage brokers who were licensed by the State Corporation Commission as of February 25, 1989, remain exempt from the prohibition if they furnish the prescribed written notice to the borrower.
Title
Mortgage brokers; prohibition on dual compensation.
Sponsors
Roll Calls
2020-01-24 - Senate - Senate: Read third time and passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2020-01-22 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-20 - Senate - Senate: Reported from Commerce and Labor (14-Y 0-N 1-A) (Y: 14 N: 0 NV: 0 Abs: 1) [PASS]
2020-01-22 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-20 - Senate - Senate: Reported from Commerce and Labor (14-Y 0-N 1-A) (Y: 14 N: 0 NV: 0 Abs: 1) [PASS]
History
Date | Chamber | Action |
---|---|---|
2020-02-18 | House | Continued to 2021 in Labor and Commerce by voice vote |
2020-02-13 | House | Referred to Committee on Labor and Commerce |
2020-02-13 | House | Read first time |
2020-02-13 | House | Placed on Calendar |
2020-01-24 | Senate | Read third time and passed Senate (39-Y 0-N) |
2020-01-23 | Senate | Read second time and engrossed |
2020-01-22 | Senate | Constitutional reading dispensed (40-Y 0-N) |
2020-01-20 | Senate | Reported from Commerce and Labor (14-Y 0-N 1-A) |
2020-01-03 | Senate | Referred to Committee on Commerce and Labor |
2020-01-03 | Senate | Prefiled and ordered printed; offered 01/08/20 20103636D |
Same As/Similar To
SB291 (Carry Over) 2020-02-18 - Continued to 2021 in Labor and Commerce by voice vote