l9n/ Mississippi

2016 Regular Session

Senate Bill 2504

Mississippi S.A.F.E. Mortgage Act; extend repealer and revise certain provisions.

Became law as Chapter 360, Laws of 2016, signed April 6, 2016, 58 days after it was filed.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO REENACT SECTIONS 81-18-1 THROUGH 81-18-63, KNOWN AS THE "MISSISSIPPI S.A.F.E. MORTGAGE ACT"; TO AMEND REENACTED SECTION 81-18-9, MISSISSIPPI CODE OF 1972, TO REVISE THE QUALIFICATIONS FOR LICENSURE; TO AMEND REENACTED SECTION 81-18-15, MISSISSIPPI CODE OF 1972, TO REVISE THE NUMBER OF HOURS OF ANNUAL CONTINUING EDUCATION REQUIRED FOR A LICENSED MORTGAGE LOAN ORIGINATOR; TO AMEND REENACTED SECTION 81-18-21, MISSISSIPPI CODE OF 1972, TO REVISE THE MAINTENANCE REQUIREMENTS AND INVESTIGATION AUTHORITY OF BUSINESS RECORDS; TO AMEND REENACTED SECTION 81-18-23, MISSISSIPPI CODE OF 1972, TO REVISE THE ANNUAL WRITTEN REPORTING REQUIREMENTS BY LICENSEES; TO AMEND REENACTED SECTION 81-18-25, MISSISSIPPI CODE OF 1972, TO REVISE THE SIGNAGE REQUIREMENTS FOR PRINCIPAL PLACE OF BUSINESS AND BRANCH OFFICES; TO AMEND REENACTED SECTION 81-18-27, MISSISSIPPI CODE OF 1972, TO PROHIBIT CERTAIN ACTS OF LICENSEES; TO AMEND REENACTED SECTION 81-18-28, MISSISSIPPI CODE OF 1972, TO CLARIFY THE CONTENTS OF A LOCK-IN FEE AGREEMENT; TO AMEND REENACTED SECTION 81-18-31, MISSISSIPPI CODE OF 1972, TO REVISE THE REGULATIONS GOVERNING ADVERTISING OF MORTGAGE LOANS; TO AMEND REENACTED SECTION 81-18-33, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE REQUIRED CONTENTS OF INDIVIDUAL CONSUMER SERVICER FILES; TO AMEND REENACTED SECTION 81-18-35, MISSISSIPPI CODE OF 1972, TO REVISE THE REQUIRED CONTENT OF A LICENSEE'S JOURNAL OF MORTGAGE TRANSACTIONS; TO AMEND REENACTED SECTION 81-18-37, MISSISSIPPI CODE OF 1972, TO MAKE A TECHNICAL AMENDMENT; TO AMEND REENACTED SECTION 81-18-51, MISSISSIPPI CODE OF 1972, TO EXTEND THE REPEALER; TO AMEND REENACTED SECTION 81-18-55, MISSISSIPPI CODE OF 1972, TO CLARIFY THE PROHIBITED ACTIVITIES IN THE COURSE OF RESIDENTIAL MORTGAGE LOAN TRANSACTIONS; TO AMEND REENACTED SECTION 81-18-61, MISSISSIPPI CODE OF 1972, TO DELETE THE REGISTRATION REQUIREMENT FOR MORTGAGE LOAN ORIGINATORS THROUGH 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 Senate

1 co-sponsor

Robert L. Jackson

Its course

February 8 to April 6, 2016, 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 action16 actions on 12 days

In the SenateFeb 8 to Mar 223 days

Business and Financial InstitutionsFeb 8 to Feb 179 days

In the House of RepresentativesMar 2 to Mar 2927 days

Banking and Financial ServicesMar 14 to Mar 151 day

With the GovernorMar 29 to Apr 68 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 Senate Feb 8 – Mar 2

  1. Feb 8Referred to the Senate committee on Business and Financial Institutions
  2. Feb 17Reported from committee in the Senate: title sufficient, do pass as a committee substitute
  3. Mar 2Committee substitute adopted in the Senate
  4. Passed the Senate

In the House of Representatives Mar 3 – Mar 29

  1. Mar 3Sent to the House
  2. Mar 14Referred to the House committee on Banking and Financial Services
  3. Mar 15Reported from committee in the House: title sufficient, do pass
  4. Mar 23Read the third time in the House
  5. Mar 25Tabled in the House, subject to being called up again
  6. Mar 29Passed the House

To the Governor Mar 29 – Apr 6

  1. Mar 29Motion in the House to reconsider entered (Wooten, Zuber and Campbell)
  2. Mar 30Motion in the House to reconsider tabled
  3. Returned to the Senate for enrolling
  4. Apr 1Enrolled bill signed in the Senate
  5. Enrolled bill signed in the House
  6. Apr 6Approved by the Governor
All 16 actions, as published
  1. Feb 8Referred To Business and Financial InstitutionsSenate
  2. Feb 17Title Suff Do Pass Comm SubSenate
  3. Mar 2Committee Substitute AdoptedSenate
  4. Mar 2PassedSenate
  5. Mar 3Transmitted To HouseSenate
  6. Mar 14Referred To Banking and Financial ServicesHouse of Representatives
  7. Mar 15Title Suff Do PassHouse of Representatives
  8. Mar 23Read the Third TimeHouse of Representatives
  9. Mar 25Tabled Subject To CallHouse of Representatives
  10. Mar 29PassedHouse of Representatives
  11. Mar 29Motion to Reconsider Entered (Wooten, Zuber, Campbell)House of Representatives
  12. Mar 30Motion to Reconsider TabledHouse of Representatives
  13. Mar 30Returned For EnrollingHouse of Representatives
  14. Apr 1Enrolled Bill SignedSenate
  15. Apr 1Enrolled Bill SignedHouse of Representatives
  16. Apr 6Approved by GovernorGovernor