Senate

Senate
Record of Committee Proceedings

Committee on Labor, Transportation and 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.

March 19, 1998 Referred to committee on Labor, Transportation and Financial Institutions.

March 24, 1998 PUBLIC HEARING HELD

Present: (6) Senators Plache, Moore, Decker, Zien, Darling and Farrow.

Absent: (0) None.

Appearances for

· Richard Dean, Secretary of Dept. of Financial Institutions

· Michael Mach, DFI

· James E. Hough, Wis. Mortgage Bankers Assoc. (WMBA)

Appearances against

· None.

Appearances for Information Only

· None.

Registrations for

· Rep. David Ward

· Richard Hanson, Commonweal Mortgage

· Kevin Koehn, Commonweal Mortgage Co.

Registrations against

· None.

March 24, 1998 EXECUTIVE SESSION

Present: (6) Senators Plache, Moore, Decker, Zien, Darling and Farrow.

Absent: (0) None.

Moved by Senator Farrow, seconded by Senator Decker, that Assembly Bill 830

be recommended for concurrence.

Ayes: (6) Senators Plache, Moore, Decker, Zien, Darling and Farrow.

Noes: (0) None.

Absent: (0) None.

CONCURRENCE RECOMMENDED, Ayes 6, Noes 0, Absent 0

John G. Anderson

Committee Clerk