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| June 12, 2009 |
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Now that the Senate is hearing bills it is very chaotic to say the least. Governor Brewer still maintains that she will veto the recently passed budget, however we heard there will be negotiations over the weekend. I will let you know once we hear of a possible deal.
As I reported to you by phone our bill to comply with the federal statute (HB2143) passed 54 to 1. We will merge it with the funding amendment in the Senate.
Jaime A. Molera
The Molera Alvarez Group
Jaime Molera is the AAMB lobbyist. For more information concerning any of the legislative issues, contact him at jmolera@moleraalvarezgroup.com or Yvonne at yjimenez@moleraalvarezgroup.com |
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| June 6, 2009 |
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As you know, the House and Senate passed the budget this week. However, they are not going to transmit to the Governor until they meet and confer on a possible compromise. I have spoken with several of Governor Brewer’s key staff over the past few days and they are making it clear they will veto it if a number of her major priorities are not met.
The Senate President (Bob Burns) announced they will start to hear bills in the Senate since they passed the budget last week. Over 250 bills were referred to committee on Thursday, which means full committee agendas over the next several weeks. We will keep you apprised – and ask you to be prepared to look over bills fairly quickly since they’ll be moving at a very quick pace.
Also, I spoke with Rebecca Hecksel about our willingness to help broker a deal with Rep. Nichols on getting the key provisions of HB 2042 passed out. We were successful and Nichols and Rep. McLain (the Banking Chair) were pleased with the outcome. I still need your feedback on moving forward with the Business Journal folks.
Jaime A. Molera
The Molera Alvarez Group |
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| May 21, 2009 |
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View copy of the Senate budget that passed out of the Appropriations Committee this past week, along with a summary of the BRB (budget reconciliation bill) language. |
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Mortgage Brokers |
5/21/09 |
49th Legislature - 1st Regular Session, 2009 |
Thursday, May 21 2009 7:04 AM |
Bill summaries and histories copyright ©2008 Arizona Capitol Reports, L.L.C. |
Mortgage Brokers |
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Mortgage Brokers: Posted Calendars and Committee Hearings |
No hearings, calendars, or amendments posted. |
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Mortgage Brokers: Bill Summaries |
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H2042: FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES [Add/Edit Comments] |
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Ninety percent of the monies collected for the licensing of loan originators in the state are to be deposited in a Financial Services Fund established in the Department of Financial Services. Subject to legislative appropriation, fund proceeds are to be used by the department to supervise and regulate mortgage loans. The remaining 10% of proceeds are to be deposited in the state General Fund. Additionally, the department's Receivership Revolving Fund must have a minimum $1 million balance at the end of each fiscal year. The list of permitted uses of the department's Revolving Fund is expanded to include licensing and examination proceedings, and the $50,000 cap on the amount of unencumbered money in the fund is lifted.Â
First sponsor: Rep. McLain |
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H2042 Daily History |
Date |
Action |
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FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES |
2/12 |
from House appro with amend #4040. |
FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES |
2/11 |
House appro amended; report awaited. |
FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES |
1/27 |
from House bank-ins do pass. |
FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES |
1/20 |
referred to House bank-ins, apro. |
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H2143: LOAN ORIGINATORS; MORTGAGE RECOVERY FUND [Add/Edit Comments] |
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Requires the state to participate in the nationwide mortgage licensing system and registry as established by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. Among other provisions, this bill expands the list of items that must be included in solicitations for business by mortgage loan originators. Beginning July 1, 2010, applicants for a loan originator license must have completed 33 hours of required education during the two-year period immediately preceding the date of application. The list of reasons for the Dept of Financial Institutions to deny a license is expanded to include an applicant having had a license previously revoked or denied in this or any state. A Mortgage Recovery Fund is established in the Dept and may be spent to pay losses of an aggrieved person up to $200,000 per transaction. Procedures to apply for a judgment are prescribed. More.
First sponsor: Rep. McLain |
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H2143 Daily History |
Date |
Action |
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LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
4/20 |
from House rules okay. |
LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
3/5 |
from House appro do pass. |
LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
3/4 |
House appro do pass; report awaited. |
LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
2/17 |
from House bank-ins with amend #4048. |
LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
1/20 |
referred to House bank-ins, appro. |
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H2269: LANDLORDS; TENANTS; FORECLOSURES [Add/Edit Comments] |
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If a rented residential property is being foreclosed, notification must be given to the tenants in a form substantially similar to what is given in this bill. Once title of the property is conveyed, the rights of the tenant to the property or to whatever prepaid rent or security may have been tendered are terminated. Â
First sponsor: Rep. Crump |
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H2269 Daily History |
Date |
Action |
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LANDLORDS; TENANTS; FORECLOSURES |
3/26 |
House COW approved with floor amend #4205, a substitute for amend 4060. |
LANDLORDS; TENANTS; FORECLOSURES |
3/3 |
from House rules okay. |
LANDLORDS; TENANTS; FORECLOSURES |
2/18 |
from House gov with amend #4060. |
LANDLORDS; TENANTS; FORECLOSURES |
1/22 |
referred to House gov. |
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H2318: LOAN ORIGINATOR; LICENSURE (CAPITAL CASES; AGGRAVATING FACTORS) [Add/Edit Comments] |
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In sentencing considerations in a death penalty case, the trier of fact must consider as an aggravating factor whether the murder was committed in connection with a gang initiation.
First sponsor: Rep. Driggs |
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H2318 Daily History |
Date |
Action |
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LOAN ORIGINATOR; LICENSURE |
4/21 |
House COW approved with amend #4160 and floor amend #4243. NOTE SHORT TITLE CHANGE. |
CAPITAL CASES; AGGRAVATING FACTORS |
3/24 |
from House rules okay. |
CAPITAL CASES; AGGRAVATING FACTORS |
3/5 |
from House jud with amend #4160. |
CAPITAL CASES; AGGRAVATING FACTORS |
1/22 |
referred to House jud. |
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H2513: REVERSE MORTGAGES [Add/Edit Comments] |
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A chapter is added to statutes regulating reverse mortgages (defined).
First sponsor: Rep. Konopnicki
Others: Rep. Brown, Rep. Crandall, Rep. Driggs, Rep. Mason, Rep. Sinema, Rep. Tovar |
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H2513 Daily History |
Date |
Action |
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REVERSE MORTGAGES |
4/30 |
retained on House COW calendar. |
REVERSE MORTGAGES |
3/10 |
From House rules okay. |
REVERSE MORTGAGES |
3/9 |
stricken from House consent calendar by Konopnicki. |
REVERSE MORTGAGES |
3/9 |
to House consent calendar. |
REVERSE MORTGAGES |
3/3 |
from House bank-ins do pass. |
REVERSE MORTGAGES |
2/12 |
referred to House bank-ins. |
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S1108: LANDLORD-TENANT; FORECLOSURES; NOTICE [Add/Edit Comments] |
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Landlords must provide tenants with notice of any foreclosure action against the property. Additionally, the landlord must provide 30-day's notice before the date of any scheduled foreclosure sale. Failure to do so is a class 1 (highest) misdemeanor.
First sponsor: Sen. Landrum Taylor
Others: Sen. Aguirre, Sen. Alvarez, Sen. Burton Cahill, Sen. Garcia, Sen. Lopez, Sen. McCune Davis, Sen. Rios |
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S1108 Daily History |
Date |
Action |
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No actions posted for this bill within the requested time frame. |
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S1404: COMMERCIAL MORTGAGE BROKER LICENSES [Add/Edit Comments] |
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A separate license is created for commercial mortgage brokers (defined). Commercial mortgage brokers must have 3 years of experience in the commercial mortgage broker business and provide financial information to apply for a license. Commercial mortgage brokers are not subject to continuing education requirements, but are otherwise subject to statutory requirements for mortgage brokers. Employees or responsible individuals of financial institutions who are licensed as mortgage brokers or bankers are exempt from loan originator licensing requirements if they only originate commercial mortgage loans.
First sponsor: Sen. Waring
Others: Sen. Paton |
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S1404 Daily History |
Date |
Action |
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No actions posted for this bill within the requested time frame. |
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| May 8, 2009 |
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View a spreadsheet that outlines the House Budget that was passed by the Appropriations Committee on Tuesday, May 5, 2009 |
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| April 30, 2009 |
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NATIONAL LEGISLATIVE UPDATE
The amendment to HR 1728 was defeated in committee with a vote of 38-31 yesterday afternoon. The amendment will be reintroduced when the bill goes to the entire House on May 7. Hence, HVCC goes into affect today, however we are gaining momentum for a 1 year moratorium. Please keep up the emails and phone calls to your legislature to push back the HVCC rule.
We do have some good news. The cram-down amendment was voted down last night in the Senate. This refers to S896. Both of the Arizona Senators voted NO, but a special thanks to Senator Kyl for taking the time to follow up with our members for insight into the unintended consequences it would have brought.
ARIZONA LEGISLATIVE UPDATE
HB 2143 was heard in the House Republican and Democrat Caucuses this week. There was very little discussion on these bills although the members seemed happy that the entire Prop. 108 language would be removed in the Committee of the Whole. This bill is now ready to go to the Committee of the Whole and that should take place in the next week or two.
Here are the House and Senate draft budget proposals and a Joint Legislative Budget Committee summary on the stimulus package. (However, please note that Governor Brewer has the final authority on how these stimulus monies can be used). The Senate Appropriations Committee has put out agendas for a hearing on the budget for Tuesday however, no bills are available at this time.
The budget info was provided by the Molera Alvarez Group just to give us an in-sight into what the legislature will be working on for the next few weeks.
Jody Davis
Mortgage Brokers |
4/30/09 |
49th Legislature - 1st Regular Session, 2009 |
Thursday, Apr 30 2009 11:20 AM |
Bill summaries and histories copyright ©2008 Arizona Capitol Reports, L.L.C. |
Mortgage Brokers |
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Mortgage Brokers: Posted Calendars and Committee Hearings |
H2513: REVERSE MORTGAGES |
Calendar:4/30 House COW |
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Mortgage Brokers: Bill Summaries |
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H2042: FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES [Add/Edit Comments] |
|
Ninety percent of the monies collected for the licensing of loan originators in the state are to be deposited in a Financial Services Fund established in the Department of Financial Services. Subject to legislative appropriation, fund proceeds are to be used by the department to supervise and regulate mortgage loans. The remaining 10% of proceeds are to be deposited in the state General Fund. Additionally, the department's Receivership Revolving Fund must have a minimum $1 million balance at the end of each fiscal year. The list of permitted uses of the department's Revolving Fund is expanded to include licensing and examination proceedings, and the $50,000 cap on the amount of unencumbered money in the fund is lifted.Â
First sponsor: Rep. McLain |
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H2042 Daily History |
Date |
Action |
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FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES |
2/12 |
from House appro with amend #4040. |
FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES |
2/11 |
House appro amended; report awaited. |
FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES |
1/27 |
from House bank-ins do pass. |
FINANCIAL SERVICES FUND; LOAN ORIGINATOR FEES |
1/20 |
referred to House bank-ins, appro. |
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H2143: LOAN ORIGINATORS; MORTGAGE RECOVERY FUND [Add/Edit Comments] |
|
Requires the state to participate in the nationwide mortgage licensing system and registry as established by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. Among other provisions, this bill expands the list of items that must be included in solicitations for business by mortgage loan originators. Beginning July 1, 2010, applicants for a loan originator license must have completed 33 hours of required education during the two-year period immediately preceding the date of application. The list of reasons for the Dept of Financial Institutions to deny a license is expanded to include an applicant having had a license previously revoked or denied in this or any state. A Mortgage Recovery Fund is established in the Dept and may be spent to pay losses of an aggrieved person up to $200,000 per transaction. Procedures to apply for a judgment are prescribed. More.
First sponsor: Rep. McLain |
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H2143 Daily History |
Date |
Action |
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LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
4/20 |
from House rules okay. |
LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
3/5 |
from House appro do pass. |
LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
3/4 |
House appro do pass; report awaited. |
LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
2/17 |
from House bank-ins with amend #4048. |
LOAN ORIGINATORS; MORTGAGE RECOVERY FUND |
1/20 |
referred to House bank-ins, appro. |
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H2269: LANDLORDS; TENANTS; FORECLOSURES [Add/Edit Comments] |
|
If a rented residential property is being foreclosed, notification must be given to the tenants in a form substantially similar to what is given in this bill. Once title of the property is conveyed, the rights of the tenant to the property or to whatever prepaid rent or security may have been tendered are terminated. Â
First sponsor: Rep. Crump |
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H2269 Daily History |
Date |
Action |
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LANDLORDS; TENANTS; FORECLOSURES |
3/26 |
House COW approved with floor amend #4205, a substitute for amend 4060. |
LANDLORDS; TENANTS; FORECLOSURES |
3/3 |
from House rules okay. |
LANDLORDS; TENANTS; FORECLOSURES |
2/18 |
from House gov with amend #4060. |
LANDLORDS; TENANTS; FORECLOSURES |
1/22 |
referred to House gov. |
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H2318: LOAN ORIGINATOR; LICENSURE (CAPITAL CASES; AGGRAVATING FACTORS) [Add/Edit Comments] |
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In sentencing considerations in a death penalty case, the trier of fact must consider as an aggravating factor whether the murder was committed in connection with a gang initiation.
First sponsor: Rep. Driggs |
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H2318 Daily History |
Date |
Action |
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LOAN ORIGINATOR; LICENSURE |
4/21 |
House COW approved with amend #4160 and floor amend #4243. NOTE SHORT TITLE CHANGE. |
CAPITAL CASES; AGGRAVATING FACTORS |
3/24 |
from House rules okay. |
CAPITAL CASES; AGGRAVATING FACTORS |
3/5 |
from House jud with amend #4160. |
CAPITAL CASES; AGGRAVATING FACTORS |
1/22 |
referred to House jud. |
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H2513: REVERSE MORTGAGES [Add/Edit Comments] |
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A chapter is added to statutes regulating reverse mortgages (defined).
First sponsor: Rep. Konopnicki
Others: Rep. Brown, Rep. Crandall, Rep. Driggs, Rep. Mason, Rep. Sinema, Rep. Tovar |
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H2513 Daily History |
Date |
Action |
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REVERSE MORTGAGES |
3/10 |
From House rules okay. |
REVERSE MORTGAGES |
3/9 |
stricken from House consent calendar by Konopnicki. |
REVERSE MORTGAGES |
3/9 |
to House consent calendar. |
REVERSE MORTGAGES |
3/3 |
from House bank-ins do pass. |
REVERSE MORTGAGES |
2/12 |
referred to House bank-ins. |
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S1108: LANDLORD-TENANT; FORECLOSURES; NOTICE [Add/Edit Comments] |
|
Landlords must provide tenants with notice of any foreclosure action against the property. Additionally, the landlord must provide 30-day's notice before the date of any scheduled foreclosure sale. Failure to do so is a class 1 (highest) misdemeanor.
First sponsor: Sen. Landrum Taylor
Others: Sen. Aguirre, Sen. Alvarez, Sen. Burton Cahill, Sen. Garcia, Sen. Lopez, Sen. McCune Davis, Sen. Rios |
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S1108 Daily History |
Date |
Action |
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No actions posted for this bill within the requested time frame. |
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S1404: COMMERCIAL MORTGAGE BROKER LICENSES [Add/Edit Comments] |
|
A separate license is created for commercial mortgage brokers (defined). Commercial mortgage brokers must have 3 years of experience in the commercial mortgage broker business and provide financial information to apply for a license. Commercial mortgage brokers are not subject to continuing education requirements, but are otherwise subject to statutory requirements for mortgage brokers. Employees or responsible individuals of financial institutions who are licensed as mortgage brokers or bankers are exempt from loan originator licensing requirements if they only originate commercial mortgage loans.
First sponsor: Sen. Waring
Others: Sen. Paton |
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S1404 Daily History |
Date |
Action |
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No actions posted for this bill within the requested time frame. |
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clear |
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