Did not become law. It stopped in the House of Representatives's Banking and Financial Services Committee on February 3, 2009. The 2009 session has ended.
2009 Regular Session
House Bill 362
Mortgage licensing; enact Mississippi S.A.F.E. Mortgage Licensing Act of 2009.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO AMEND SECTION 81-18-1, MISSISSIPPI CODE OF 1972, TO CHANGE THE NAME OF THE MISSISSIPPI MORTGAGE CONSUMER PROTECTION LAW TO THE MISSISSIPPI S.A.F.E. MORTGAGE LICENSING ACT OF 2009; TO CREATE NEW SECTION 81-18-2, MISSISSIPPI CODE OF 1972, TO STATE CERTAIN LEGISLATIVE FINDINGS REGARDING THE MORTGAGE INDUSTRY AND TO STATE THE PURPOSE OF THE REVISED ACT; TO AMEND SECTION 81-18-3, MISSISSIPPI CODE OF 1972, TO PROVIDE DEFINITIONS FOR VARIOUS TERMS USED IN THE ACT; TO AMEND SECTION 81-18-5, MISSISSIPPI CODE OF 1972, TO REVISE THE LIST OF PERSONS AND ENTITIES THAT ARE EXEMPT FROM THE ACT; TO AMEND SECTION 81-18-7, MISSISSIPPI CODE OF 1972, TO PROVIDE A TRANSITION PERIOD FOR COMPLIANCE WITH THE ACT; TO AMEND SECTION 81-18-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THE LICENSURE REQUIREMENTS FOR MORTGAGE LOAN ORIGINATORS; TO AMEND SECTION 81-18-11, MISSISSIPPI CODE OF 1972, TO REVISE THE REQUIREMENTS FOR SURETY BONDS FOR LOAN ORIGINATORS; TO AMEND SECTION 81-18-13, MISSISSIPPI CODE OF 1972, TO REVISE THE LICENSURE REQUIREMENTS FOR MORTGAGE BROKERS AND MORTGAGE LENDERS; TO CREATE NEW SECTION 81-18-14, MISSISSIPPI CODE OF 1972, TO PROVIDE THE REQUIREMENTS FOR PRELICENSING EDUCATION FOR LOAN ORIGINATORS AND THE REQUIREMENTS FOR THE TESTING OF LOAN ORIGINATORS; TO AMEND SECTION 81-18-15, MISSISSIPPI CODE OF 1972, TO PROVIDE THE LICENSE RENEWAL AND CONTINUING EDUCATION REQUIREMENTS FOR LOAN ORIGINATORS; TO AMEND SECTION 81-18-21, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT LICENSEES MUST MAKE BOOKS AND RECORDS AVAILABLE TO THE COMMISSIONER OF BANKING AND MAKE REPORTS AS REQUIRED BY THE COMMISSIONER; TO GIVE THE COMMISSIONER ADDITIONAL AUTHORITY TO CARRY OUT THE PURPOSES OF THIS SECTION; TO AMEND SECTION 81-18-23, MISSISSIPPI CODE OF 1972, TO REQUIRE LICENSEES TO SUBMIT REPORTS OF CONDITION TO THE NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY; TO AMEND SECTION 81-18-27, MISSISSIPPI CODE OF 1972, TO EXPAND THE LIST OF PROHIBITED ACTIONS BY LICENSEES; TO AMEND SECTIONS 81-18-17, 81-18-19, 81-18-25, 81-18-31, 81-18-37 AND 81-18-39, MISSISSIPPI CODE OF 1972, TO REMOVE REFERENCES TO REGISTRATION, WHICH IS NO LONGER AVAILABLE UNDER THE ACT; TO AMEND SECTION 81-18-33, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THE ACT; TO AMEND SECTION 81-18-43, MISSISSIPPI CODE OF 1972, TO REVISE THE PENALTIES FOR VIOLATIONS OF THE ACT; TO AMEND SECTION 81-18-61, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE COMMISSIONER SHALL REQUIRE LOAN ORIGINATORS TO BE LICENSED AND REGISTERED THROUGH THE NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY; TO CREATE NEW SECTION 81-18-63, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR CONFIDENTIALITY OF ANY INFORMATION OR MATERIAL PROVIDED TO THE NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY; AND FOR RELATED PURPOSES.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the House of Representatives
Sponsor
Its course
January 8 to February 3, 2009, on one scale. In the top row each mark is a day something happened; taller marks are busier days.
Each committee stop sits inside its chamber.
Every action2 actions on 2 days
In the House of RepresentativesJan 8 to Feb 3 · stopped26 days
Banking and Financial ServicesJan 8 to Feb 3 · stopped26 days
Text
Each version as the Legislature printed it.
l9n doesn't hold this bill's text yet.
What happened
In l9n's words, one line for each step. Every action as the Legislature published it is below.
In the House of Representatives Jan 8 – Feb 3
- Jan 8Referred to the House committee on Banking and Financial Services
- Feb 3Died in committee in the House
All 2 actions, as published
- Jan 8Referred To Banking and Financial ServicesHouse of Representatives
- Feb 3Died In CommitteeHouse of Representatives