Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
Jerry McGinty, Director, Legislative Budget Board
HB3617 by Anchia (Relating to certain qualifications and requirements of licensed mortgage companies and the regulation of the Department of Savings and Mortgage Lending.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Finance Code as it relates to qualifications and requirements of licensed mortgage companies and the regulation of the Department of Savings and Mortgage Lending (DSML).
The DSML has indicated that any costs associated with the bill's provisions could be absorbed using existing agency resources. The DSML is a self-directed, semi-independent state entity and does not receive appropriated funds and is responsible for funding all direct and indirect operational costs and sets the amount of fees, penalties, charges, and revenues required to cover these costs.
Local Government Impact
No fiscal implication to units of local government is anticipated.