l9n/ Mississippi

2025 Regular Session

House Bill 993

Mortgage brokers and lenders; authorize to perform organization activities at a remote location.

Did not become law. It stopped in the Senate's Business and Financial Institutions Committee on March 4, 2025. The 2025 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AUTHORIZE MORTGAGE LOAN ORIGINATORS TO PERFORM ORIGINATION ACTIVITIES AT A REMOTE LOCATION UNDER THE SUPERVISION AND IN COMPLIANCE WITH THE LICENSEE'S POLICIES AND PROCEDURES SUBJECT TO CERTAIN CONDITIONS; TO AMEND SECTION 81-18-3, MISSISSIPPI CODE OF 1972, TO DEFINE THE TERMS "EMPLOYEE", "EXCLUSIVE AGENT", "INDEPENDENT CONTRACTOR" AND "REMOTE LOCATION"; TO AMEND SECTION 81-18-9, MISSISSIPPI CODE OF 1972, TO INCREASE THE FEE FOR A MORTGAGE LOAN ORIGINATOR LICENSE; TO AMEND SECTION 81-18-11, MISSISSIPPI CODE OF 1972, TO INCREASE THE MAXIMUM SUM OF SURETY BOND FOR MORTGAGE BROKERS, MORTGAGE LENDERS AND INITIAL APPLICANTS; TO AMEND SECTION 81-18-25, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT NOTHING IN THIS CHAPTER SHALL BE INTERPRETED TO PROHIBIT MORTGAGE LOAN ORIGINATORS OF A LICENSEE PERFORMING ORIGINATION ACTIVITIES AT A REMOTE LOCATION, HIS OR HER RESIDENCE, OR ANOTHER REMOTE LOCATION, PROVIDED THAT THE LICENSEE COMPLIES WITH THE PROVISIONS OF THIS ACT; TO AMEND SECTION 81-18-15, MISSISSIPPI CODE OF 1972, TO INCREASE THE LICENSE FEE FOR INITIAL APPLICATIONS FOR A LICENSE TO OPERATE AS A MORTGAGE BROKER OR LENDER; TO INCREASE THE ANNUAL RENEWAL FEE; TO AMEND SECTION 81-18-17, MISSISSIPPI CODE OF 1972, TO INCREASE THE APPLICATION FEE FOR A LICENSEE'S BRANCH OFFICE; TO INCREASE THE ANNUAL RENEWAL FEE FOR A LICENSEE'S BRANCH OFFICE; TO AMEND SECTION 81-18-21, MISSISSIPPI CODE OF 1972, TO INCREASE THE EXAMINATION FEE FOR LICENSEES IN THE STATE OF MISSISSIPPI; TO BRING FORWARD SECTIONS 81-18-5, 81-18-7, 81-18-8, 81-18-13, 81-18-14, 81-18-19, 81-18-23, 81-18-27, 81-18-28, 81-18-29, 81-18-31, 81-18-33, 81-18-35, 81-18-36, 81-18-37, 81-18-39, 81-18-40, 81-18-41, 81-18-43, 81-18-45, 81-18-47, 81-18-49, 81-18-53, 81-18-55, 81-18-61 AND 81-18-63, MISSISSIPPI CODE OF 1972, WHICH RELATE TO THE MISSISSIPPI S.A.F.E. MORTGAGE ACT, FOR PURPOSES OF POSSIBLE AMENDMENT; 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

Its course

January 17 to March 4, 2025, 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 action7 actions on 6 days

In the House of RepresentativesJan 17 to Feb 1125 days

Banking and Financial ServicesJan 17 to Jan 2811 days

In the SenateFeb 11 to Mar 4 · stopped21 days

Business and Financial InstitutionsFeb 17 to Mar 4 · stopped15 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 17 – Feb 11

  1. Jan 17Referred to the House committee on Banking and Financial Services
  2. Jan 28Reported from committee in the House: title sufficient, do pass as a committee substitute
  3. Feb 11In the House: Committee Substitute Tabled
  4. Passed the House

In the Senate Feb 12 – Mar 4

  1. Feb 12Sent to the Senate
  2. Feb 17Referred to the Senate committee on Business and Financial Institutions
  3. Mar 4Died in committee in the Senate
All 7 actions, as published
  1. Jan 17Referred To Banking and Financial ServicesHouse of Representatives
  2. Jan 28Title Suff Do Pass Comm SubHouse of Representatives
  3. Feb 11Committee Substitute TabledHouse of Representatives
  4. Feb 11PassedHouse of Representatives
  5. Feb 12Transmitted To SenateHouse of Representatives
  6. Feb 17Referred To Business and Financial InstitutionsSenate
  7. Mar 4Died In CommitteeSenate