Assembly
Record of Committee Proceedings
Committee on Financial Institutions
Assembly Bill 678
Relating to: the regulation of mortgage loan originators, mortgage brokers, and mortgage bankers.
By Representatives Weininger, Craig, Sanfelippo, Kahl, Richards, Steineke, Murphy, Goyke, Knodl and Ballweg; cosponsored by Senators Lasee and Schultz.
January 27, 2014 Referred to Committee on Financial Institutions
January 29, 2014 Public Hearing Held
Present: (13) Representative Craig; Representatives Kapenga, Stroebel, Sanfelippo, Kramer, Kaufert, Marklein, Weininger, Born, Hintz, Zepnick, Genrich and Sargent.
Absent: (0) None.
Excused: (2) Representatives Young and Richards.
Appearances For
· Roger Bainbridge - State Farm
· Chris Green - Department of Financial Institutions
· Mike Mach - Department of Financial Institutions
· Georgia Maxwell - Department of Financial Institutions
· Jean Plale - Department of Financial Institutions
· Joseph and Debra Sule - Self
· Rep. Chad Weininger - Wisconsin State Assembly
Appearances Against
· None.
Appearances for Information Only
· None.
Registrations For
· Jennifer Gonda - City of Milwaukee
· Tom Larson - Wisconsin Realtors Assoc.
· Sen. Frank Lasee – Wisconsin State Senate
· Eric Peterson - Milwaukee County Executive Chris Abele
Registrations Against
· None.
Registrations for Information Only
· None.
February 04, 2014 Executive Session Held
Present: (15) Representative Craig; Representatives Kapenga, Stroebel, Sanfelippo, Kramer, Kaufert, Marklein, Weininger, Born, Hintz, Zepnick, Young, Richards, Genrich and Sargent.
Absent: (0) None.
Excused: (0) None.
Moved by Representative Weininger, seconded by Representative Kapenga that Assembly Amendment 1 be recommended for adoption.
Ayes: (13) Representative Craig; Representatives Kapenga, Stroebel, Sanfelippo, Kaufert, Marklein, Weininger, Born, Zepnick, Young, Richards, Genrich and Sargent.
Noes: (0) None.
Absent: (2) Representatives Kramer and Hintz.
ASSEMBLY AMENDMENT 1 ADOPTION RECOMMENDED, Ayes 13, Noes 0
Moved by Representative Stroebel, seconded by Representative Kapenga that Assembly Amendment 2 be recommended for adoption.
Ayes: (7) Representative Craig; Representatives Kapenga, Stroebel, Sanfelippo, Marklein, Weininger and Born.
Noes: (6) Representatives Kaufert, Zepnick, Young, Richards, Genrich and Sargent.
Absent: (2) Representatives Kramer and Hintz.
ASSEMBLY AMENDMENT 2 ADOPTION RECOMMENDED, Ayes 7, Noes 6
Moved by Representative Kapenga, seconded by Representative Weininger that Assembly Bill 678 be recommended for passage as amended.
Ayes: (15) Representative Craig; Representatives Kapenga, Stroebel, Sanfelippo, Kramer, Kaufert, Marklein, Weininger, Born, Hintz, Zepnick, Young, Richards, Genrich and Sargent.
Noes: (0) None.
PASSAGE AS AMENDED RECOMMENDED, Ayes 15, Noes 0
______________________________
Nathan Schacht
Committee Clerk