VA SB785 | 2020 | Regular Session
Note: Carry Foward to future SB785
Status
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]
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]
Summary
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.
Title
Mortgage loan originators; exempts retailers of manufactured or modular homes, etc.
Sponsors
Roll Calls
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]
History
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 |
Same As/Similar To
SB785 (Carry Over) 2020-02-10 - Continued to 2021 in Commerce and Labor (15-Y 0-N)