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SB 98 Oregon Senate · 2017 Regular Session

Relating to residential mortgage loan servicers; and declaring an emergency.

Summary
Requires certain persons that service residential mortgage loans in this state to obtain or renew license. Specifies license application and renewal procedures and required fees. Prescribes duties of licensee and prohibits certain activities relating to negotiating or offering to negotiate modification of terms of residential mortgage loan. Requires licensee to maintain specified liquidity, operating reserves and net worth. Prescribes civil penalties against persons that engage in business as residential mortgage loan servicer without license. Permits Director of Department of Consumer and Business Services to remove member of licensee's governing body or licensee's officer under certain circumstances. Permits director to participate in multistate mortgage examinations under specified circumstances. Becomes operative January 1, 2018. Declares emergency, effective on passage.
Bill status signed all 4 stages cleared
Introduction
Jan 2017
Committee Review
Jun 2017
Senate Passage
Jun 2017
Signed into Law
Aug 2017
Introduced Jan 9, 2017 Signed Aug 2, 2017
Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history

Actions timeline

Total actions
23
Key actions
9
Committee
8
Aug 2, 2017
Signed into law
Governor signed.
legislature
Jul 1, 2017
Legislature · Passed
Speaker signed.
legislature
Jun 30, 2017
Legislature · Passed
President signed.
legislature
Jun 28, 2017
Legislature · Passed
Third reading. Carried by Reardon. Passed.
legislature
Jun 27, 2017
Legislature · Passed
Recommendation: Do pass.
legislature
Jun 23, 2017
Committee
Referred to Ways and Means.
legislature
Jun 23, 2017
Introduced
First reading. Referred to Speaker's desk.
legislature
Jun 22, 2017
Legislature · Passed
Third reading. Carried by Johnson. Passed.
legislature
Jun 19, 2017
Legislature · Passed
Recommendation: Do pass with amendments to the A-Eng. bill. (Printed B-Eng.)
legislature
Jun 7, 2017
Legislature · Passed
Returned to Full Committee.
legislature
May 24, 2017
Committee
Assigned to Subcommittee On Transportation and Economic Development.
legislature
Apr 12, 2017
Committee
Referred to Ways and Means by order of the President.
legislature
Apr 12, 2017
Legislature · Passed
Recommendation: Do pass with amendments and be referred to Ways and Means. (Printed A-Eng.)
legislature
Jan 17, 2017
Committee
Referred to Business and Transportation.
legislature
Jan 9, 2017
Introduced
Introduction and first reading. Referred to President's desk.
legislature
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.