477173A20895F5AC8725822500771355 Hearing Summary CLICS/CLICS2018A/commsumm.nsf PUBLICBILL SUMMARY For SUNSET REVIEW HEARING FOR MORTGAGE LOAN ORIGINATOR LICENSING AND THE MORTGAGE COMPANY REGISTRATION ACTHOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABORDate Jan 30, 2018 Location LSB A Sunset review hearing for Mortgage Loan Originator Licensing and the Mortgage Company Registration Act - Introduce draft LLS No. 18-0389.01. Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2018A/commsumm.nsf/0/176014A5610C...$File/180130 AttachE.pdf?OpenElement 180130 AttachE.pdf Attachment http://www2.leg.state.co.us/CLICS/CLICS2018A/commsumm.nsf/0/C59CB564C7D5...$File/180130 AttachD.pdf?OpenElement 180130 AttachD.pdf 02:41:50 PM Bryan Jameson, DORA Office of Policy, Research, and Regulatory Reform, reviewed the 2017 sunset review of Mortgage Loan Originator Licensing and the Mortgage Company Registration Act. A full copy of the sunset review report can be found here: https://drive.google.com/file/d/0B1eD7wvZltwxSUk2T1FjUF9OWk0/view. A copy of the corresponding draft bill, LLS No. 18-0389.01, can be found in [Attachment D]. 02:57:42 PM Mr. Jameson responded to questions from the committee. 03:03:29 PM Jayne Bail, Colorado Association of Mortgage Professionals, provided testimony related to the recommendations outlined in the sunset review report. Ms. Bail provided a handout to the committee [Attachment E]. 03:07:17 PM Ms. Bail responded to questions from the committee. 03:14:22 PM Cary Whitaker, Colorado Mortgage Lenders Association (CMLA), provided testimony related to the recommendations outlined in the sunset review report. 03:18:49 PM Mr. Whitaker responded to questions from the committee. 03:20:00 PM Terry Jones, CMLA, provided testimony related to the recommendations outlined in the sunset review report. 03:21:38 PM Mr. Jameson returned to the table to respond to questions from the committee. 03:28:00 PM Motion Amend LLS No. 18-0389.01 to remove section number 6 from the bill draft: page 5 lines 9 through 27 and page 6 lines 1 through 10, which correlates to recommendation number 5. Moved Gray Seconded Garnett Arndt No Coleman No Garnett Yes Gray Yes Liston Excused Rosenthal No Sandridge Yes Sias Excused Thurlow No Van Winkle Yes Williams D. No Winter Yes Kraft-Tharp No YES: 5 NO: 6 EXC: 2 ABS: 0 FINAL ACTION: FAIL 03:29:41 PM Motion Introduce draft LLS No. 18-0389.01. Moved Van Winkle Seconded Garnett Arndt Yes Coleman Yes Garnett Yes Gray Yes Liston Excused Rosenthal Yes Sandridge Yes Sias Excused Thurlow Yes Van Winkle Yes Williams D. Yes Winter Yes Kraft-Tharp Yes Final YES: 11 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS 03:29:42 PM Representative Arndt and Representative Gray were designated as co-prime bill sponsors.