SB62, s. 689
12Section
689. 224.77 (1m) (a) of the statutes is amended to read:
SB62,288,1613
224.77
(1m) (a) The division may assess against
a person who is registered
14under this chapter any person who violates this subchapter a forfeiture of not more
15than
$2,000 $25,000 for each violation
enumerated under sub. (1) (a) to (o) or (r) and
16may further order restitution to any person suffering loss as a result of the violation.
SB62, s. 690
17Section
690. 224.77 (1m) (b) of the statutes is amended to read:
SB62,289,618
224.77
(1m) (b) A person may contest an assessment of forfeiture
, or a
19restitution order, under par. (a) by sending, within 10 days after receipt of notice of
20the assessment
or order under par. (a), a written request for hearing under s. 227.44
21to the division of hearings and appeals created under s. 15.103 (1). The
22administrator of the division of hearings and appeals may designate a hearing
23examiner to preside over the case and recommend a decision to the administrator
24under s. 227.46. The decision of the administrator of the division of hearings and
25appeals shall be the final administrative decision. The division of hearings and
1appeals shall commence the hearing within 30 days after receipt of the request for
2hearing and shall issue a final decision within 15 days after the close of the hearing.
3Proceedings before the division of hearings and appeals are governed by ch. 227. In
4any petition for judicial review of a decision by the division of hearings and appeals,
5the party, other than the petitioner, who was in the proceeding before the division of
6hearings and appeals shall be the named respondent.
SB62, s. 691
7Section
691. 224.77 (1m) (c) of the statutes is renumbered 224.77 (1m) (c) 1.
SB62, s. 692
8Section
692. 224.77 (1m) (c) 2. of the statutes is created to read:
SB62,289,129
224.77
(1m) (c) 2. All amounts ordered as restitution shall be paid to the person
10suffering loss within 10 days after receipt of notice of the order or, if the restitution
11order is contested under par. (b), within 10 days after receipt of the final decision
12after exhaustion of administrative review.
SB62, s. 693
13Section
693. 224.77 (1m) (d) of the statutes is amended to read:
SB62,289,1914
224.77
(1m) (d) The attorney general may bring an action in the name of the
15state to collect any forfeiture imposed
, or amount ordered as restitution, under this
16subsection if the forfeiture
or restitution amount has not been paid following the
17exhaustion of all administrative and judicial reviews. The only issue to be contested
18in any such action shall be whether the forfeiture
or restitution amount has been
19paid.
SB62, s. 694
20Section
694. 224.77 (2) (title) of the statutes is repealed.
SB62, s. 695
21Section
695. 224.77 (2) of the statutes is renumbered 224.77 (2m) (a) 2. and
22amended to read:
SB62,290,623
224.77
(2m) (a) 2. The division may
revoke, suspend or limit a certificate of
24registration issued under this subchapter or reprimand take any action specified in
25subd. 1. against a mortgage banker or mortgage broker
registered under this
1subchapter, if based upon any act or omission described in subd. 1. of a director,
2officer, trustee, partner
, or member of the mortgage banker or mortgage broker or a
3person who has a financial interest in or is in any way connected with the operation
4of the mortgage banker's or mortgage broker's business
is guilty of an act or omission
5which would be cause for refusing to issue a certificate of registration to that
6individual.
SB62, s. 696
7Section
696. 224.77 (2m) of the statutes is created to read:
SB62,290,128
224.77
(2m) Division action on license. (a) 1. In addition to any other
9authority provided to the division under this subchapter, if the division finds that a
10mortgage banker, mortgage loan originator, or mortgage broker has violated any
11provision of this subchapter or any rule promulgated by the division under this
12subchapter, the division may do any of the following:
SB62,290,1313
a. Deny any application for initial issuance or renewal of a license.
SB62,290,1514
b. Revoke, suspend, limit, or condition any license of the mortgage banker,
15mortgage loan originator, or mortgage broker.
SB62,290,1716
c. Reprimand the mortgage banker, mortgage loan originator, or mortgage
17broker.
SB62,290,2418
(b) In addition to any other authority provided to the division under this
19subchapter, if the division finds that an applicant for initial issuance or renewal of
20a license under this subchapter made any material misstatement in the application
21or withheld material information, or that the applicant no longer satisfies the
22requirements under s. 224.72 or 224.725 for issuance or renewal of the license, the
23division may deny the application or, if the license has already been issued, suspend
24or revoke the license.
SB62, s. 697
1Section
697. 224.77 (3) (a) and (b) of the statutes are consolidated,
2renumbered 224.77 (3) (a) (intro.) and amended to read:
SB62,291,103
224.77
(3) (a)
Orders to prevent or correct actions. (intro.) The division may
4issue general and special orders
necessary, including temporary orders that become
5immediately effective, to prevent or correct actions by a mortgage banker,
mortgage 6loan originator
, or mortgage broker that constitute
cause under this section for
7revoking, suspending or limiting a certificate of registration. (b)
Types of special
8orders. Special a violation of any provision of this subchapter or of any rule
9promulgated under this subchapter, including special orders
may direct that do any
10of the following:
SB62,291,14
111. Direct a mortgage banker,
mortgage loan originator
, or mortgage broker to
12cease and desist from engaging in a particular activity
or may direct the, from
13conducting business, or from otherwise violating any provision of this subchapter or
14any rule promulgated under this subchapter.
SB62,291,20
152. Direct a mortgage banker,
mortgage loan originator
, or mortgage broker to
16refund or remit to a
residential mortgage loan applicant or borrower amounts that
17the mortgage banker,
mortgage loan originator
, or mortgage broker got from actions
18which that constitute
cause under this section for revoking, suspending or limiting
19a certificate of registration a violation of any provision of this subchapter or of any
20rule promulgated under this subchapter.
SB62, s. 698
21Section
698. 224.77 (3) (a) 3. and 4. of the statutes are created to read:
SB62,292,222
224.77
(3) (a) 3. Direct a mortgage banker, mortgage loan originator, or
23mortgage broker to cease business under a license issued under this subchapter if
24the division determines that the license was erroneously issued or the licensee is
1currently in violation of any provision of this subchapter or of any rule promulgated
2under this subchapter.
SB62,292,53
4. Direct a mortgage banker, mortgage loan originator, or mortgage broker to
4undertake any affirmative action, consistent with the provisions of this subchapter,
5that the division deems necessary.
SB62, s. 699
6Section
699. 224.77 (3m) of the statutes is amended to read:
SB62,292,127
224.77
(3m) Hearing rights for registration license denial, revocation, or
8suspension. A person whose
certificate of registration license has been denied,
9revoked
or, suspended
, limited, or conditioned under this section may request a
10hearing under s. 227.44 within 30 days after the date of denial, revocation
or, 11suspension
, limitation, or conditioning of the
certificate of registration license. The
12division may appoint a hearing examiner under s. 227.46 to conduct the hearing.
SB62, s. 700
13Section
700. 224.77 (4) of the statutes is amended to read:
SB62,292,1714
224.77
(4) Period of disciplinary action;
license ineligibility for
15registration. (a)
Period. Except as provided in par. (b), the division shall determine
16in each case the period that a revocation, suspension
or
, limitation
, or condition of
17a
certificate of registration license is effective.
SB62,292,2118
(b)
Ineligibility. 1. Except as provided in subd. 2., if the division denies or
19revokes a
certificate of registration license under sub.
(1) (2m) (a), the person is not
20eligible for a
certificate of registration license until the expiration of a period
21determined in each case by the division.
SB62,292,2422
2. If the division revokes a
certificate of registration license under sub. (1) (p)
23or (q), the person is not eligible for a
certificate of registration license until 5 years
24after the effective date of the revocation.
SB62, s. 701
25Section
701. 224.77 (5) (a) of the statutes is amended to read:
SB62,293,3
1224.77
(5) (a)
Mandatory revocation or suspension. Notwithstanding
sub. (1)
2(intro.) subs. (2m) (a) and (4), if the division finds that a mortgage banker,
mortgage 3loan originator
, or mortgage broker has violated sub. (1) (p) or (q), the division shall:
SB62,293,54
1. For the first offense, suspend the
registration
license of the mortgage banker,
5mortgage loan originator
, or mortgage broker for not less than 90 days.
SB62,293,76
2. For the 2nd offense, revoke the
registration
license of the mortgage banker,
7mortgage loan originator
, or mortgage broker.
SB62, s. 702
8Section
702. 224.77 (6) (title) of the statutes is repealed.
SB62, s. 703
9Section
703. 224.77 (6) of the statutes is renumbered 224.77 (2m) (c) and
10amended to read:
SB62,293,2311
224.77
(2m) (c) The
department division shall restrict or suspend the
12registration license of a mortgage banker,
mortgage loan originator
, or mortgage
13broker if the
registrant licensee is an individual who fails to comply, after
14appropriate notice, with a subpoena or warrant issued by the department of children
15and families or a county child support agency under s. 59.53 (5) and related to
16paternity or child support proceedings or who is delinquent in making court-ordered
17payments of child or family support, maintenance, birth expenses, medical expenses
, 18or other expenses related to the support of a child or former spouse, as provided in
19a memorandum of understanding entered into under s. 49.857.
A registrant An
20individual whose
registration license is restricted or suspended under this
21subsection is entitled to a notice and hearing only as provided in a memorandum of
22understanding entered into under s. 49.857 and is not entitled to any other notice or
23hearing under this section.
SB62, s. 704
24Section
704. 224.77 (7) (title) of the statutes is repealed.
SB62, s. 705
1Section
705. 224.77 (7) of the statutes is renumbered 224.77 (2m) (d) and
2amended to read:
SB62,294,93
224.77
(2m) (d) The
department division shall revoke the
certificate of
4registration license of a mortgage banker,
mortgage loan originator
, or mortgage
5broker if the department of revenue certifies under s. 73.0301 that the
registrant 6licensee is liable for delinquent taxes. A
registrant licensee whose
certificate of
7registration license is revoked under this subsection for delinquent taxes is entitled
8to a notice under s. 73.0301 (2) (b) 1. b. and a hearing under s. 73.0301 (5) (a) but is
9not entitled to any other notice, hearing or review under this section.
SB62, s. 706
10Section
706. 224.77 (8) of the statutes is amended to read:
SB62,294,1711
224.77
(8) Voluntary surrender. A mortgage banker,
mortgage loan
12originator
, or mortgage broker may voluntarily surrender a
registration license to
13the division, but the division may refuse to accept the surrender if the division has
14an open investigation or examination or received allegations of unprofessional
15conduct against the mortgage banker,
mortgage loan originator
, or mortgage broker.
16The division may negotiate stipulations in consideration for accepting the surrender
17of
registration the license.
SB62, s. 707
18Section
707. 224.77 (9) of the statutes is created to read:
SB62,294,2319
224.77
(9) Reporting violations. The division shall report regularly violations
20of this subchapter or of rules promulgated under this subchapter, as well as
21enforcement actions and other relevant information, to the nationwide mortgage
22licensing system and registry. Except as provided in s. 224.728 (4) (b) and (c), these
23reports shall be confidential.
SB62, s. 708
24Section
708. 224.78 (title) of the statutes is repealed.
SB62, s. 709
1Section
709. 224.78 of the statutes is renumbered 224.77 (1) (jm) and amended
2to read:
SB62,295,63
224.77
(1) (jm)
A mortgage banker, loan originator, or mortgage broker may
4not pay Pay a person who is not
registered licensed under this subchapter a
5commission, money
, or other thing of value for performing an act as a mortgage
6banker,
mortgage loan originator
, or mortgage broker.
SB62, s. 710
7Section
710. 224.79 of the statutes is amended to read:
SB62,295,17
8224.79 Consumer mortgage Mortgage brokerage agreements and
9consumer disclosures. (1)
Form and content of consumer mortgage brokerage
10agreements. Every contract between a mortgage broker and
a consumer an
11individual under which the mortgage broker agrees to provide brokerage services to
12the
consumer individual relating to a residential mortgage loan shall be in writing,
13in the form prescribed by rule of the division, and shall contain all information
14required by rule of the division. The division shall promulgate rules to administer
15this subsection in consultation with the
mortgage loan originator council under s.
1615.187 (1). The division shall design these rules to facilitate the comparison of
17similar charges and total charges assessed by different mortgage brokers.
SB62,296,6
18(2) Consumer disclosure
Disclosure statement. Before entering into a
19contract with
a consumer an individual to provide brokerage services
relating to a
20residential mortgage loan, a mortgage broker shall give the
consumer individual a
21copy of a
consumer disclosure statement, explain the content of the statement, and
22ensure that the
consumer individual initials or signs the statement, acknowledging
23that the
consumer individual has read and understands the statement. The
24consumer disclosure statement shall contain a brief explanation of the relationship
25between the
consumer individual and the mortgage broker under the proposed
1contract, a brief explanation of the manner in which the mortgage broker may be
2compensated under the proposed contract, and any additional information required
3by rule of the division. The division shall promulgate rules to administer this
4subsection in consultation with the
mortgage loan originator council under s. 15.187
5(1) and, by rule, shall specify the form and content of the
consumer disclosure
6statement required under this subsection.
SB62, s. 711
7Section
711. 224.80 (1) of the statutes is amended to read:
SB62,296,128
224.80
(1) Penalties. A person who violates
s. 224.72 (1m) any provision of this
9subchapter or any rule promulgated under this subchapter may be fined not more
10than
$2,000 $25,000 or imprisoned for not more than 9 months or both. The district
11attorney of the county where the violation occurs shall enforce the penalty under this
12subsection on behalf of the state.
SB62, s. 712
13Section
712. 224.80 (2) (intro.) of the statutes is amended to read:
SB62,296,1814
224.80
(2) Private cause of action. (intro.) A person who is aggrieved by an
15act which is committed by a mortgage banker,
mortgage loan originator
, or mortgage
16broker
and which is described in s. 224.77 (1) in violation of any provision of this
17subchapter or of any rule promulgated under this subchapter may recover all of the
18following in a private action:
SB62, s. 713
19Section
713. 224.80 (2) (a) 1. of the statutes is amended to read:
SB62,296,2220
224.80
(2) (a) 1. Twice the amount of the cost of loan origination connected with
21the transaction, except that the liability under this subdivision may not be less than
22$100 nor greater than
$2,000 $25,000 for each violation.
SB62, s. 714
23Section
714. 224.81 of the statutes is amended to read:
SB62,297,6
24224.81 Limitation on actions for commissions and other
25compensation. A person who is engaged in the business or acting in the capacity
1of a mortgage banker,
mortgage loan originator
, or mortgage broker in this state may
2not bring or maintain an action in this state to collect a commission, money
, or other
3thing of value for performing an act as a mortgage banker,
mortgage loan originator
, 4or mortgage broker without alleging and proving that the person was
registered 5licensed under this subchapter as a mortgage banker,
mortgage loan originator
, or
6mortgage broker when the alleged cause of action arose.
SB62, s. 715
7Section
715. 224.82 of the statutes is amended to read:
SB62,297,11
8224.82 Compensation presumed. In a prosecution arising from a violation
9of this subchapter, proof that a person acted as a mortgage banker,
mortgage loan
10originator
, or mortgage broker is sufficient, unless rebutted, to establish that
11compensation was received by, or promised to, that person.
SB62, s. 716
12Section
716. 224.83 of the statutes is created to read:
SB62,297,17
13224.83 Loan processors and underwriters. An individual engaging solely
14in loan processor or underwriter activities may not represent to the public, through
15advertising or another means of communication such as the use of business cards,
16stationery, brochures, signs, rate lists, or other promotional items, that the
17individual can or will perform any of the activities of a mortgage loan originator.
SB62, s. 717
18Section
717. 227.01 (13) (rm) of the statutes is created to read:
SB62,297,2019
227.01
(13) (rm) Is a form prescribed by the attorney general for an accounting
20under s. 846.40 (8) (b) 2.
SB62, s. 718
21Section
718. 227.01 (13) (zy) of the statutes is created to read:
SB62,297,2522
227.01
(13) (zy) Relates to any form prescribed by the division of banking in
23the department of financial institutions in connection with the licensing of mortgage
24bankers or mortgage brokers under s. 224.72 or the licensing of mortgage loan
25originators under s. 224.725.
SB62, s. 719
1Section
719. 229.68 (15) of the statutes is amended to read:
SB62,298,72
229.68
(15) Impose, by the adoption of a resolution, the taxes under subch. V
3of ch. 77. A district may not levy any taxes that are not expressly authorized under
4subch. V of ch. 77 and that do not receive the affirmative vote of a supermajority of
5the district board. If a district adopts a resolution which imposes taxes, it shall
6deliver a certified copy of the resolution to the secretary of revenue at least
30 120 7days before its effective date.
SB62, s. 720
8Section
720. 229.824 (15) of the statutes is amended to read:
SB62,299,129
229.824
(15) Impose, by the adoption of a resolution, the taxes under subch. V
10of ch. 77, except that the taxes imposed by the resolution may not take effect until
11the resolution is approved by a majority of the electors in the district's jurisdiction
12voting on the resolution at a referendum, to be held at the first spring primary or
13September primary following by at least 45 days the date of adoption of the
14resolution. Two questions shall appear on the ballot. The first question shall be:
15"Shall a sales tax and a use tax be imposed at the rate of 0.5% in .... County for
16purposes related to football stadium facilities in the .... Professional Football
17Stadium District?" The 2nd question shall be: "Shall excess revenues from the 0.5%
18sales tax and use tax be permitted to be used for property tax relief purposes in ....
19County?" Approval of the first question constitutes approval of the resolution of the
20district board. Approval of the 2nd question is not effective unless the first question
21is approved. The clerk of the district shall publish the notices required under s. 10.06
22(4) (c), (f) and (i) for any referendum held under this subsection. Notwithstanding
23s. 10.06 (4) (c), the type A notice under s. 10.01 (2) (a) relating to the referendum is
24valid even if given and published late as long as it is given and published prior to the
25election as early as practicable. A district may not levy any taxes that are not
1expressly authorized under subch. V of ch. 77. The district may not levy any taxes
2until the professional football team and the governing body of the municipality in
3which the football stadium facilities are located agree on how to fund the
4maintenance of the football stadium facilities. The district may not levy any taxes
5until the professional football team and the governing body of the municipality in
6which the football stadium facilities are located agree on how to distribute the
7proceeds, if any, from the sale of naming rights related to the football stadium
8facilities. If a district board adopts a resolution that imposes taxes and the resolution
9is approved by the electors, the district shall deliver a certified copy of the resolution
10to the secretary of revenue at least
30 120 days before its effective date. If a district
11board adopts a resolution that imposes taxes and the resolution is not approved by
12the electors, the district is dissolved.
SB62, s. 721
13Section
721. 231.01 (4) (a) of the statutes is amended to read:
SB62,299,2014
231.01
(4) (a) "Cost" means the sum of all costs incurred by a participating
15health institution, participating educational institution
, participating research
16institution, or participating child care provider, as approved by the authority, as are
17reasonable and necessary to accomplish the project, exclusive of any private or
18federal, state
, or local financial assistance received by the participating health
19institution, participating educational institution
, participating research institution, 20or participating child care provider for the payment of the project cost.
SB62, s. 722
21Section
722. 231.01 (4) (b) 1. of the statutes is amended to read:
SB62,300,422
231.01
(4) (b) 1. The cost incurred by or on behalf of the participating health
23institution, participating educational institution
, participating research institution, 24or participating child care provider of all necessary developmental, planning
, and
25feasibility studies, surveys, plans
, and specifications, architectural, engineering,
1legal
, or other special services, the cost of acquisition of land and any buildings and
2improvements on the land, site preparation
, and development including demolition
3or removal of existing structures, construction, reconstruction
, and equipment,
4including machinery, fixed equipment
, and personal property.
SB62, s. 723
5Section
723. 231.01 (4) (b) 2. of the statutes is amended to read:
SB62,300,96
231.01
(4) (b) 2. The reasonable cost of financing incurred by a participating
7health institution, participating educational institution
, participating research
8institution, or participating child care provider in the course of the development of
9the project to the occupancy date.
SB62, s. 724
10Section
724. 231.01 (4) (c) of the statutes is amended to read:
SB62,300,1811
231.01
(4) (c) All rents and other net revenues from the operation of the real
12property, improvements
, or personal property on the project site by a participating
13health institution, participating educational institution
, participating research
14institution, or participating child care provider on and after the date on which the
15contract between a participating health institution, participating educational
16institution
, participating research institution, or participating child care provider
17and the authority was entered into, but prior to the occupancy date, shall reduce the
18sum of all costs in this subsection.
SB62, s. 725
19Section
725. 231.01 (6t) of the statutes is created to read:
SB62,300,2320
231.01
(6t) "Participating research institution" means an entity that provides
21or operates a research facility and that undertakes the financing and construction
22or acquisition of a project or undertakes the refunding or refinancing of obligations
23or of a mortgage or of advances as provided in this chapter.
SB62, s. 726
24Section
726. 231.01 (7) (a) 1. of the statutes is amended to read:
SB62,301,4
1231.01
(7) (a) 1. A specific health facility, educational facility
, research facility, 2or child care center work or improvement to be refinanced, acquired, constructed,
3enlarged, remodeled, renovated, improved, furnished
, or equipped by the authority
4with funds provided in whole or in part under this chapter.
SB62, s. 727
5Section
727. 231.01 (7) (a) 2. of the statutes is amended to read:
SB62,301,106
231.01
(7) (a) 2. One or more structures suitable for use as a child care center,
7research facility, health facility, laboratory, laundry, nurses' or interns' residence or
8other multi-unit housing facility for staff, employees, patients or relatives of
9patients admitted for treatment or care in a health facility, physician's facility,
10administration building, research facility, maintenance, storage
, or utility facility.
SB62, s. 728
11Section
728. 231.01 (7) (a) 4. of the statutes is amended to read:
SB62,301,1512
231.01
(7) (a) 4. Any structure useful for the operation of a health facility,
13educational facility
, research facility, or child care center, including facilities or
14supporting service structures essential or convenient for the orderly conduct of the
15health facility, educational facility
, research facility, or child care center.
SB62, s. 729
16Section
729. 231.01 (7) (c) of the statutes is amended to read:
SB62,301,2117
231.01
(7) (c) "Project" may include any combination of projects undertaken
18jointly by any participating health institution, participating educational institution
,
19participating research institution, or participating child care provider with one or
20more other participating health institutions, participating educational institutions
,
21participating research institutions, or participating child care providers.