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SF 1313 Senate Long Description

Regulating mortgage originators and servicers; requiring licensees to present evidence to the commissioner of commerce of having met the continuing education requirements before the commissioner renews a license; specifying certain continuing education requirements; authorizing the commissioner to adopt rules; specifying certain license reinstatements requirements; authorizing the commissioner to establish a procedure for renewal of course accreditation; creating the residential mortgage originators and servicers recovery fund, specifying certain funding, fee and investment requirements; specifying a procedure for recovery of a judgment; specifying certain recovery limits; specifying certain duties of the commissioner relating to revocation of license for payment from fund, subrogation clause
(je)