Assembly

Assembly
Record of Committee Proceedings

Committee on Financial Institutions

Assembly Bill 830

Relating to: registration requirements for loan originators, mortgage bankers and mortgage brokers, providing an exemption from emergency rule procedures, granting rule-making authority and providing a penalty.

By the Committee on Financial Institutions, by request of the Department of Financial Institutions.

February 25, 1998 Referred to committee on Financial Institutions.

February 25, 1998 PUBLIC HEARING HELD

Present: (14) Representatives Ward, Hoven, Green, Lazich, Foti, Kedzie, Schafer, Sykora, R. Potter, Travis, La Fave, Meyer, Morris-Tatum and Murat.

Absent: (1) Representative Plale.

Appearances for

· Secretary Richard Dean, Department of Financial Institutions

· Michael Mack, Department of Financial Institutions

· James Hough, Wisconsin Mortgage Bankers Assoc.

· Jim Kopp, Wisconsin Mortgage Bankers Association

Appearances against

· None.

Appearances for Information Only

· None.

Registrations for

· Ken Martens, Wisconsin Mortgage Bankers Association

· Patrick Essie, Wisconsin Association of Mortgage Brokers

· Todd Langeness, Wisconsin Mortgage Brokers Assoc.

· Mark Person, M. Falls, WI

· Dave Anderson, Department of Financial Institutions

Registrations against

· None.

March 11, 1998 EXECUTIVE SESSION

Present: (15) Representatives Ward, Hoven, Green, Lazich, Foti, Kedzie, Schafer, Sykora, R. Potter, Travis, La Fave, Meyer, Morris-Tatum, Murat and Plale.

Absent: (0) None.

Moved by Representative Green, seconded by Representative Schafer, that Assembly Bill 830

be recommended for passage.

Ayes: (15) Representatives Ward, Hoven, Green, Lazich, Foti, Kedzie, Schafer, Sykora, R. Potter, Travis, La Fave, Meyer, Morris-Tatum, Murat and Plale.

Noes: (0) None.

Absent: (0) None.

PASSAGE RECOMMENDED, Ayes 15, Noes 0, Absent 0

AKoerner

Committee Clerk