S. 3106 · 111th Congress
Nonprofit Mortgage Licensing Clarification Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HaganSponsor9 cosponsors · 5 D, 4 R
R
Burr
SC
R
Chambliss
JI
R
Isakson
JM
D
Merkley
JB
D
Bingaman
AK
D
Klobuchar
SB
D
Brown
MJ
R
Johanns
AF
D
Franken4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Nonprofit Mortgage Licensing Clarification Act of 2010 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to permit a state to exempt from certain registration or licensing requirements any charitable organization exempt from federal tax (including their employees and agents acting as loan originators), if the organization: (1) executes loan originations…
What it does: CRS summary · Introduced in Senate · Mar 11, 2010
Nonprofit Mortgage Licensing Clarification Act of 2010 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to permit a state to exempt from certain registration or licensing requirements any charitable organization exempt from federal tax (including their employees and agents acting as loan originators), if the organization: (1) executes loan originations in order to promote or facilitate homeownership for certain low-income, disabled, or other disadvantaged persons or families; (2) offers loans at interest rates lower than the bank prime loan rate, or that are no-interest loans or loans with interest rates significantly below those for loans to purchase generally available single-family housing; and (3) does not otherwise engage in the business of a loan originator or mortgage broker.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Nonprofit Mortgage Licensing Clarification Act of 2010
Latest action (Mar 11, 2010): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Housing and Community Development · Origin: Senate · Introduced: Mar 11, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.