2007 House Bill 4596 / 2008 Public Act 72

Expand mortgage loan officer licensure

Introduced in the House

April 12, 2007

Introduced by Rep. Shanelle Jackson (D-9)

To expand to mortgage loan officers the state licensure that is imposed on mortgage brokers, mortgage lenders, and mortgage servicers.

Referred to the Committee on Banking and Financial Services

Jan. 31, 2008

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

Feb. 13, 2008

Substitute offered

To replace the previous version of the bill with one that revises various details, but does not change its substance. This version was superseded by another substitute with more changes.

The substitute failed by voice vote

Substitute offered by Rep. Andy Coulouris (D-95)

To replace the previous version of the bill with one that revises revises the licensing periods for mortgage loan officials. The licensure provisions of the original bill have been shifted to other bills in the package, which include House Bills 5287 to 5291, and Senate Bills 826 to 833.

The substitute passed by voice vote

Passed in the House 108 to 0 (details)

To revise the licensing periods that apply to mortgage loan officers, mortgage brokers, mortgage lenders, and mortgage servicers.

Received in the Senate

Feb. 19, 2008

Referred to the Committee on Banking and Financial Services

Feb. 21, 2008

Reported without amendment

With the recommendation that the bill pass.

Feb. 26, 2008

Substitute offered

The substitute passed by voice vote

Feb. 27, 2008

Passed in the Senate 38 to 0 (details)

To revise the licensing periods that apply to mortgage loan officers, mortgage brokers, mortgage lenders, and mortgage servicers.

Received in the House

Feb. 27, 2008

March 19, 2008

Passed in the House 108 to 0 (details)

To concur with the Senate-passed version of the bill.

Signed by Gov. Jennifer Granholm

April 2, 2008