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HB 470 (BR 166) - T. Thompson, T. Burch, B. Housman, D. Osborne

     AN ACT relating to mortgage originator licensing.
     Amend KRS 286.8-290 to require that a natural person may originate a mortgage loan secured by a dwelling that served as the natural person's own residence.


     HCS - Amend KRS 286.8-290 to delete the addition of "own" from the exemption for financing of a person's residence; exempt from the mortgage originator licensing requirements of Subtitle 8 of KRS Chapter 286 a person who originates a mortgage loan secured by a dwelling, who is exempted by an order of the commissioner of the Department of Financial Institutions, and whose exemption would not violate registration requirements of the federal S.A.F.E. Mortgage Licensing Act.

     Feb 14-introduced in House
     Feb 15-to Banking & Insurance (H)
     Feb 22-posting waived
     Feb 23-reported favorably, 1st reading, to Consent Calendar with Committee Substitute
     Feb 24-2nd reading, to Rules; posted for passage in the Consent Orders of the Day for Friday, February 25, 2011
     Feb 25-3rd reading, passed 96-0 with Committee Substitute
     Feb 28-received in Senate
     Mar 1-taken from Committee on Committees (S); 1st reading; returned to Committee on Committees (S); to Banking & Insurance (S)
     Mar 2-taken from Banking & Insurance (S); 2nd reading; returned to Banking & Insurance (S)
     Mar 3-reported favorably, to Rules as a Consent Bill; posted for passage in the Consent Orders of the Day for Friday, March 4, 2011
     Mar 4-3rd reading, passed 37-0; received in House; enrolled, signed by each presiding officer; delivered to Governor
     Mar 16-signed by Governor

Vote History
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