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h_bus_2018a_2018-01-30t13:30:51z1 Hearing Summary




PUBLIC
BILL SUMMARY For SUNSET REVIEW HEARING FOR MORTGAGE LOAN ORIGINATOR LICENSING AND THE MORTGAGE COMPANY REGISTRATION ACT

HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR
Date 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.
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.






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