Key Votes
HB 1141 - Requirement for Mortgage Companies to have License and Registration - Key Vote
Colorado Key Votes
John Kefalas voted Yea (Concurrence Vote) on this legislation.
Read recent statements John Kefalas made in this general time period.
Stages
- May 26, 2010 Executive Signed
- May 4, 2010 House Concurrence Vote Passed
- May 3, 2010 Senate Bill Passed
- Feb. 4, 2010 House Bill Passed
- Jan. 20, 2010 Introduced
Family
Issues
Stage Details
Legislation - Signed (Executive) - May 26, 2010
Title: Requirement for Mortgage Companies to have License and Registration
Signed by Governor Bill Ritter, Jr.
Legislation - Concurrence Vote Passed (House) (51-14) - May 4, 2010 (Key vote)
Title: Requirement for Mortgage Companies to have License and Registration
Vote Smart's Synopsis:
Vote to pass a bill that creates a board of mortgage loan originators and requires mortgage companies to register.
Highlights:
-Authorizes the executive director of the department of regulatory agencies to employ a director of the division of real estate (Sec. 1).
-Defines a "mortgage company' as a person, other than an individual who, through employees or other individuals, takes residential loan applications or offers or negotiates terms of a residential mortgage loan (Sec. 3).
-Establishes a board of mortgage loan originators consisting of five members appointed by the governor with the consent of the senate, and shall exercise all of the rule-making, enforcement, and administrative authority of the director (Sec. 4).
-Requires each mortgage company to register with the Nationwide Mortgage Licensing System and Registry and renew their registration each calendar year (Sec. 6).
-Authorizes the board to inactivate a license if an individual does not meet the insurance requirements, violates any of the board's rules, or fails to meet testing or education requirements (Sec. 7).
-Exempts individuals who negotiate the mortgage on their personal dwelling, banks, savings associations, and credit unions from the registration requirements (Sec. 10).
-Authorizes the board to (Sec. 13):
- -Deny an application for registration;
-Refuse to renew, suspend, or revoke registration;
-Enter cease-and-desist orders; and
-Impose fines.
Legislation - Bill Passed (Senate) (27-7) - May 3, 2010 (Key vote)
Title: Requirement for Mortgage Companies to have License and Registration
Vote Smart's Synopsis:
Vote to pass a bill that creates a board of mortgage loan originators and requires mortgage companies to register.
Highlights:
-Authorizes the executive director of the department of regulatory agencies to employ a director of the division of real estate (Sec. 1).
-Defines a "mortgage company' as a person, other than an individual who, through employees or other individuals, takes residential loan applications or offers or negotiates terms of a residential mortgage loan (Sec. 3).
-Establishes a board of mortgage loan originators consisting of five members appointed by the governor with the consent of the senate, and shall exercise all of the rule-making, enforcement, and administrative authority of the director (Sec. 4).
-Requires each mortgage company to register with the Nationwide Mortgage Licensing System and Registry and renew their registration each calendar year (Sec. 6).
-Authorizes the board to inactivate a license if an individual does not meet the insurance requirements, violates any of the board's rules, or fails to meet testing or education requirements (Sec. 7).
-Exempts individuals who negotiate the mortgage on their personal dwelling, banks, savings associations, and credit unions from the registration requirements (Sec. 10).
-Authorizes the board to (Sec. 13):
- -Deny an application for registration;
-Refuse to renew, suspend, or revoke registration;
-Enter cease-and-desist orders; and
-Impose fines.
Legislation - Bill Passed (House) (61-3) - Feb. 4, 2010
Legislation - Introduced (House) - Jan. 20, 2010
Title: Requirement for Mortgage Companies to have License and Registration
Sponsors
- Terrance D. Carroll (CO - D) (Out Of Office)
- Lois A. Tochtrop (CO - D)
Co-sponsors
- Edward Casso (CO - D) (Out Of Office)
- Lois Court (CO - D)
- Mark Ferrandino (CO - D)
- K. Jerry Frangas (CO - D) (Out Of Office)
- Dickey Lee Hullinghorst (CO - D)
- James E. 'Jim' Kerr (CO - R) (Out Of Office)
- Marsha A. Looper (CO - R) (Out Of Office)
- Thomas W. 'Tom' Massey Jr. (CO - R) (Out Of Office)
- Michael 'Mike' May (CO - R) (Out Of Office)
- Karen Middleton (CO - D) (Out Of Office)
- Salvatore 'Sal' Pace (CO - D) (Out Of Office)
- John V. 'Jack' Pommer (CO - D) (Out Of Office)
- Kevin Priola (CO - R)
- Su Ryden (CO - D)
- Christine Scanlan (CO - D) (Out Of Office)
- Sue Schafer (CO - D)
- Judith Anne 'Judy' Solano (CO - D) (Out Of Office)
- Kenneth Guy 'Ken' Summers (CO - R) (Out Of Office)
- Nancy Janann Todd (CO - D) (Out Of Office)
- Max Tyler (CO - D)
- Edward 'Ed' Vigil (CO - D)
