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By: Parker (Senate Sponsor - Buckingham) |
H.B. No. 3342 |
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(In the Senate - Received from the House May 5, 2017; |
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May 8, 2017, read first time and referred to Committee on Business & |
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Commerce; May 19, 2017, reported adversely, with favorable |
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Committee Substitute by the following vote: Yeas 8, Nays 0; |
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May 19, 2017, sent to printer.) |
| Click here to see the committee vote |
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COMMITTEE SUBSTITUTE FOR H.B. No. 3342 |
By: Creighton |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the prelicensing education requirements for |
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residential mortgage loan originators. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 180.056(h), Finance Code, is amended to |
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read as follows: |
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(h) An individual who fails to maintain a residential |
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mortgage loan originator license for the period of time established |
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by rule of the rulemaking authority [at least five consecutive
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years] must retake the prelicensing education requirements |
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prescribed by the S.A.F.E. Mortgage Licensing Act. |
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SECTION 2. This Act takes effect January 1, 2018. |
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