Relating to requirements for licensure as mortgage lender or broker

Updated tangible net worth requirements for lenders to $250,000 and for brokers to $10,000, while clarifying that brokers need a $150,000 bond to participate in table-funded loans.

Added a new subsection requiring the aggregate liability of a surety bond to never exceed the actual bond amount.

Adjusted surety bond amounts based on annual loan originations (e.g., $100,000 for $0-$3M loans for lenders) and set specific license fees ($1,250 for lenders, $350 for brokers).

Introduced a new $5 per loan fee for every residential mortgage loan originated, made, or brokered to fund the Division of Financial Institutions.

Added an exemption allowing the commissioner to waive fees and bond requirements for bona fide nonprofit corporations serving low-income households.

Clarified that consumer restitution claims must be resolved before the state can claim unpaid administrative penalties or examination invoices from a bond.