Virginia Senate Bill 785 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 8 2020 - 25% progression, died in committee
Action: 2020-02-10 - Continued to 2021 in Commerce and Labor (15-Y 0-N)
Pending: Senate Commerce and Labor Committee
Text: Latest bill text (Prefiled) [HTML]

Mortgage loan originators; exemption. Exempts retailers of manufactured or modular homes and employees of such retailers from the licensing and other requirements applicable to mortgage loan originators. The exemption applies if the retailer or employee (i) does not receive compensation or gain for engaging in certain activities that exceeds any compensation or gain received in a comparable cash transaction; (ii) makes certain disclosures; and (iii) does not directly negotiate loan terms with the consumer or lender.

Mortgage loan originators; exempts retailers of manufactured or modular homes, etc.

Sen. Lynwood Lewis [D]

2020-02-10 - Senate - Senate: Continued to 2021 in Commerce and Labor (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2020-02-10	Senate	Continued to 2021 in Commerce and Labor (15-Y 0-N)
2020-01-08	Senate	Referred to Committee on Commerce and Labor
2020-01-08	Senate	Prefiled and ordered printed; offered 01/08/20 20104068D

SB785 (Carry Over) 2020-02-10 - Continued to 2021 in Commerce and Labor (15-Y 0-N)

Chapter	Article	Section	Citation Type	Statute Text
6	2	1701	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+SB785
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB785+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+S02V0141+SB0785