Assembly
Record of Committee Proceedings
Committee on Financial Institutions
Assembly Bill 313
Relating to: the minimum net worth requirement for licensed mortgage brokers.
By Representatives Brooks, Franklin, Goodwin, Green, Knodl, Kreibich, O'Connor, Piwowarczyk and Prado; cosponsored by Senators Stafsholt and Kapenga.
June 06, 2025 Referred to Committee on Financial Institutions
September 03, 2025 Public Hearing Held
Present: (10) Representative Duchow; Representatives Kreibich, Allen, Murphy, O'Connor, Wittke, Kaufert, Doyle, J. Jacobson and Udell.
Absent: (0) None.
Excused: (0) None.
Appearances For
· Representative Rob Brooks - 59th Assembly District
· William Severson - Nexa - US Lending Solutions
· Justin White - United Wholesale Mortgage
Appearances Against
· None.
Appearances for Information Only
· None.
Registrations For
· Senator Rob Stafsholt - 10th Senate District
· Nick MacCudden - Majesty Mortgage
Registrations Against
· None.
Registrations for Information Only
· None.
October 01, 2025 Executive Session Held
Present: (8) Representative Duchow; Representatives Kreibich, Murphy, O'Connor, Wittke, Doyle, J. Jacobson and Udell.
Absent: (0) None.
Excused: (2) Representatives Allen and Kaufert.
Moved by Representative Murphy, seconded by Representative Kreibich that Assembly Bill 313 be recommended for passage.
Ayes: (5) Representative Duchow; Representatives Kreibich, Murphy, O'Connor and Wittke.
Noes: (3) Representatives Doyle, J. Jacobson and Udell.
PASSAGE RECOMMENDED, Ayes 5, Noes 3
______________________________
Colin Weeks
Committee Clerk
