Bill Summary for H 126 (2015-2016)
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Summary date:
Jul 16 2015
Bill Information:
| View NCGA Bill Details | 2015-2016 Session |
AN ACT TO AUTHORIZE THE OFFICE OF THE COMMISSIONER OF BANKS TO IMPLEMENT A REGISTRATION SYSTEM FOR PERSONS ENGAGED EXCLUSIVELY IN THE PROCESSING OR UNDERWRITING OF RESIDENTIAL MORTGAGE LOANS AND NOT ENGAGED IN THE MORTGAGE BUSINESS.Intro. by Hardister, Szoka, Meyer, S. Ross.
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Bill summary
Senate committee substitute makes the following changes to the 1st edition.
Deletes proposed changes to GS 53-244.060(7) and (8), which referenced requirements that mortgage origination support registrants meet surety bond and net worth requirements.
Changes the effective date of the act to October 1, 2015 (was, July 1, 2015).