| SB 0728 | Revises laws pertaining to mortgage brokers |
| Sponsor: | Yeckel | |||
| LR Number: | 2663S.02I | Fiscal Note: | 2663-02 | |
| Committee: | Financial and Governmental Organization | |||
| Last Action: | 03/20/02 - Hearing Conducted S Financial & Governmental | Journal page: | ||
| Organizations Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 2002 | |||
SB 728 - This act modifies several provisions pertaining to
Residential Mortgage Brokers. After January 1, 2003, individuals
applying or renewing a mortgage broker license will have to show
proof of completion of a continuing education course. The
act modifies the process for appointment to the Residential
Mortgage Brokers Board. Effective January 1, 2003, the required
net worth for a licensed mortgage broker from $25,000 to $50,000.
JIM ERTLE