summary
Introduced
02/02/2018
02/02/2018
In Committee
04/24/2018
04/24/2018
Crossed Over
04/09/2018
04/09/2018
Passed
05/04/2018
05/04/2018
Dead
Signed/Enacted/Adopted
05/29/2018
05/29/2018
Introduced Session
2018 Regular Session
Bill Summary
Concerning the continuation under the sunset law of the board of mortgage loan originators, and, in connection therewith, adopting the legislative recommendations of the department of regulatory agencies as contained in the department's sunset report.
AI Summary
This bill extends the sunset date for the Board of Mortgage Loan Originators in Colorado from September 1, 2018 to September 1, 2029. It also makes several changes to the licensing requirements for mortgage loan originators, including increasing the minimum education requirement from 9 to 20 hours and allowing the Board to adopt the Nationwide Multistate Licensing System's uniform state test. The bill also specifies the composition of the Board, requiring that at least one of the three licensed mortgage loan originators on the Board be an employee, exclusive agent, or independent contractor of a Colorado-based mortgage company.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (3)
Last Action
Governor Signed (on 05/29/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
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