Enrolled Bill Summary

            House Bill 1636 amends the Finance Code to continue the office of savings and loan commissioner and the Savings and Loan Department until September 1, 2013. In addition to including across-the-board sunset provisions, the bill requires, rather than permits, the commissioner to obtain criminal history record information maintained by the Federal Bureau of Investigation on an applicant for a mortgage broker or loan officer license, and it requires the commissioner to issue a provisional license if the information has not been received for an otherwise qualified applicant before the 61st day after it was requested. If the information has not been received within 181 days of being requested, the license's provisional status ends, and the license is subject to the same provisions as a regular license. The bill also requires each licensed mortgage broker to file with the department an annual report containing information on loan originations and loan officers sponsored by the broker and specifies that certain information included in the report is confidential. Finally, the bill authorizes the commissioner to conduct investigations of licensees as necessary and at any time.