SB 376 is sponsored by Correa and Fuller.

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California 2011-2012 Regular Session Status: Passed Senate

SB 376 — Mortgage loan originators.

Last action July 02, 2012 — Set, first hearing. Hearing canceled at the request of author.

✓
Introduced
✓
In Committee
3
Passed Senate
4
Passed Assembly
5
To Executive
6
Enacted

This bill died with 2011-2012 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law provides for the licensure and regulation of mortgage loan originators under the Real Estate Law, the California Finance Lenders Law, and the California Residential Mortgage Lending Act. Existing law defines a mortgage loan originator to mean an individual who takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan for compensation or gain, as specified. This bill would specify that a mortgage loan originator means an individual who performs those acts habitually or repeatedly and would also specify that a mortgage loan originator does not include an individual who takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan for no more than 5 residential mortgage loans in a calendar year where the loans are made in connection with the sale of residential property and the loan proceeds are from the seller's own funds.

Bill Text

Amended 05/21/12 - Amended Assembly Current pdf May 21, 2012
Amended 08/15/11 - Amended Assembly pdf August 15, 2011
Amended 04/07/11 - Amended Senate pdf April 07, 2011
Introduced 02/15/11 - Introduced pdf February 15, 2011
SB376 View text html

Action History

July 02, 2012
Set, first hearing. Hearing canceled at the request of author.
June 18, 2012
From committee: Be re-referred to Com. on B. & F. (Ayes 11. Noes 0.) (June 18). Re-referred to Com. on B. & F.
May 21, 2012
Re-referred to Com. on RLS.
May 21, 2012
Ordered to third reading.
May 21, 2012
Read third time and amended.
May 15, 2012
Ordered to third reading.
May 15, 2012
From inactive file.
May 14, 2012
Notice of intention to remove from inactive file given by Assembly Member Allen.
August 30, 2011
Ordered to inactive file on request of Assembly Member Charles Calderon.
August 25, 2011
Ordered to third reading.
August 25, 2011
From consent calendar.
August 22, 2011
Read second time. Ordered to consent calendar.
August 18, 2011
From committee: Do pass. Ordered to consent calendar. (Ayes 17. Noes 0.) (August 17).
August 15, 2011
From committee with author's amendments. Read second time and amended. Re-referred to Com. on APPR.
July 13, 2011
Hearing postponed by committee.
June 14, 2011
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 9. Noes 0.) (June 14). Re-referred to Com. on APPR.
May 19, 2011
Referred to Com. on B., P. & C.P.
May 09, 2011
In Assembly. Read first time. Held at Desk.
May 09, 2011
Read third time. Passed. (Ayes 40. Noes 0. Page 906.) Ordered to the Assembly.
May 04, 2011
Ordered to special consent calendar.
May 04, 2011
Read second time. Ordered to third reading.
May 03, 2011
From committee: Be placed on second reading file pursuant to Senate Rule 28.8.
April 13, 2011
Set for hearing May 2.
April 12, 2011
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0. Page 616.) (April 11). Re-referred to Com. on APPR.
April 07, 2011
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B., P. & E.D.
March 25, 2011
Set for hearing April 11.
March 24, 2011
Hearing postponed by committee.
March 18, 2011
Set for hearing April 4.
February 24, 2011
Referred to Com. on B., P. & E.D.
February 16, 2011
From printer. May be acted upon on or after March 18.
February 15, 2011
Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 120 not signed on

Sponsors (1)

Fuller

Co-sponsors (1)

Correa

Not signed on (120)

120 members have not signed on to this bill.

Show all 120 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Be referred to Committee on Banking and Finance.

June 18, 2012

Passed 11 Yea · 0 Nay

Party	Yea	Nay	Present	Not Voting
Unaffiliated	11	0	0	0
Total	11	0	0	0
% of votes cast	100%	0%	0%	0%

How each member voted (11)

Member	Party	Vote
Hagman	—	Yea
Butler	—	Yea
Carter	—	Yea
Davis	—	Yea
Donnelly	—	Yea
Silva	—	Yea
Alejo	—	Yea
Hueso	—	Yea
Knight	—	Yea
Skinner	—	Yea
Williams	—	Yea

Official roll call →

Do pass, to Consent Calendar.

August 17, 2011

Passed 17 Yea · 0 Nay

Party	Yea	Nay	Present	Not Voting
Unaffiliated	16	0	0	0
Democratic	1	0	0	0
Total	17	0	0	0
% of votes cast	100%	0%	0%	0%

How each member voted (17)

Member	Party	Vote
Campos	—	Yea
Hall	—	Yea
Hill	—	Yea
Lara	—	Yea
Mitchell	—	Yea
Blumenfield	—	Yea
Donnelly	—	Yea
Nielsen	—	Yea
Solorio	—	Yea
Bradford	—	Yea
Harkey	—	Yea
Norby	—	Yea
Wagner	—	Yea
Davis	—	Yea
Fuentes	—	Yea
Gatto	—	Yea
Calderon, Lisa	Democratic	Yea

Official roll call →

Do pass and re-refer to Committee on Appropriations with recommendation: To Consent Calendar.

June 14, 2011

Passed 9 Yea · 0 Nay

Party	Yea	Nay	Present	Not Voting
Unaffiliated	9	0	0	0
Total	9	0	0	0
% of votes cast	100%	0%	0%	0%

How each member voted (9)

Member	Party	Vote
Eng	—	Yea
Allen	—	Yea
Butler	—	Yea
Hagman	—	Yea
Hayashi	—	Yea
Ma	—	Yea
Smyth	—	Yea
Hill	—	Yea
Bill Berryhill	—	Yea

Official roll call →

Special Consent #2

May 09, 2011

Passed 40 Yea · 0 Nay

Party	Yea	Nay	Present	Not Voting
Unaffiliated	37	0	0	0
Republican	1	0	0	0
Democratic	2	0	0	0
Total	40	0	0	0
% of votes cast	100%	0%	0%	0%

How each member voted (40)

Member	Party	Vote
Yee	—	Yea
Wyland	—	Yea
Cannella	—	Yea
Evans	—	Yea
Runner	—	Yea
Lowenthal	—	Yea
Corbett	—	Yea
De León	—	Yea
Fuller	—	Yea
Negrete McLeod	—	Yea
Hancock	—	Yea
Harman	—	Yea
Rubio	—	Yea
Huff	—	Yea
Kehoe	—	Yea
Anderson	—	Yea
Dutton	—	Yea
Lieu	—	Yea
Liu	—	Yea
Pavley	—	Yea
Steinberg	—	Yea
Walters	—	Yea
Wright	—	Yea
Alquist	—	Yea
Blakeslee	—	Yea
Hernandez	—	Yea
Leno	—	Yea
Price	—	Yea
Simitian	—	Yea
Vargas	—	Yea
Wolk	—	Yea
Emmerson	—	Yea
Correa	—	Yea
DeSaulnier	—	Yea
Beth Gaines	—	Yea
Bill Berryhill	—	Yea
La Malfa	—	Yea
Calderon, Lisa	Democratic	Yea
Padilla, Stephen C.	Democratic	Yea
Strickland, Tony	Republican	Yea

Official roll call →

Do pass, but re-refer to the Committee on Appropriations.

April 11, 2011

Passed 9 Yea · 0 Nay

Party	Yea	Nay	Present	Not Voting
Unaffiliated	9	0	0	0
Total	9	0	0	0
% of votes cast	100%	0%	0%	0%

How each member voted (9)

Member	Party	Vote
Corbett	—	Yea
Negrete McLeod	—	Yea
Wyland	—	Yea
Price	—	Yea
Vargas	—	Yea
Hernandez	—	Yea
Walters	—	Yea
Emmerson	—	Yea
Correa	—	Yea

Official roll call →

Subjects

finance housing

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Frequently asked questions

What does SB 376 do?: Existing law provides for the licensure and regulation of mortgage loan originators under the Real Estate Law, the California Finance Lenders Law, and the California Residential Mortgage Lending Act. Existing law defines a mortgage loan originator to mean an individual who takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan for compensation or gain, as specified. This bill would specify that a mortgage loan originator means an individual who performs those acts habitually or repeatedly and would also specify that a mortgage loan originator does not include an individual who takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan for no more than 5 residential mortgage loans in a calendar year where the loans are made in connection with the sale of residential property and the loan proceeds are from the seller's own funds.
Who sponsors SB 376?: SB 376 is sponsored by Correa and Fuller.
What is the current status of SB 376?: This bill died with 2011-2012 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 376?: Track SB 376 free on One Click Politics — get push/email alerts when it moves.

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At a glance

Identifier: SB 376
Jurisdiction: California
Session: 2011-2012 Regular Session
Type: Bill
Introduced: February 15, 2011
Status: Passed Senate
Prime sponsor: Fuller

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Last checked for changes 3 months ago · updated continuously

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