H.R. 2948

Introduced

To amend the S.A.F.E. Mortgage Licensing Act of 2008 to provide a temporary license for loan originators transitioning between employers, and for other purposes.

Introduced 6/20/2017•115th Congress•House

Latest Action

Placed on the Union Calendar, Calendar No. 414.

2/13/2018 • House

Summary

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

(Sec. 1) This bill amends the S.A.F.E. Mortgage Licensing Act of 2008 to temporarily allow loan originators that meet specified requirements to continue to originate loans after moving: (1) from one state to another, or (2) from a depository institution to a non-depository institution.

(Sec. 2) The bill revises the Act's civil liability immunity provisions.

Reported to House without amendment • 2/13/2018

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Topics & Subjects

Policy Area: Housing and Community Development

Civil actions and liabilityConsumer Financial Protection BureauGovernment liabilityHousing finance and home ownershipLicensing and registrationsState and local government operations

CBO Cost Estimates (1)

H.R. 2948, a bill to amend the S.A.F.E. Mortgage Licensing Act of 2008 to provide a temporary license for loan originators transitioning between employers, and for other purposes

As ordered reported by the House Committee on Financial Services on December 13, 2017

Published: February 12, 2018