Relating to residential mortgage loan servicers; and declaring an emergency.
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SB 98 — Relating to residential mortgage loan servicers; and declaring an emergency.
Last action — Effective date, August 2, 2017.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced January 09, 2017. Enacted.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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Cleared a recorded vote
Passed 4 recorded votes so far.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
Requires certain persons that service residential mortgage loans in this state to obtain or renew license. Specifies license application and renewal procedures and required fees. Prescribes duties of licensee and prohibits certain activities relating to negotiating or offering to negotiate modification of terms of residential mortgage loan. Requires licensee to maintain specified liquidity, operating reserves and net worth. Prescribes civil penalties against persons that engage in business as residential mortgage loan servicer without license. Permits Director of Department of Consumer and Business Services to remove member of licensee's governing body or licensee's officer under certain circumstances. Permits director to participate in multistate mortgage examinations under specified circumstances. Becomes operative January 1, 2018. Declares emergency, effective on passage.
Bill Text
We don't have the full text on file for this bill yet.
Read SB 98 on the official Oregon source →Action History
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Effective date, August 2, 2017.
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Chapter 636, 2017 Laws.
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Governor signed.
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Speaker signed.
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President signed.
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Third reading. Carried by Reardon. Passed.
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Second reading.
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Recommendation: Do pass.
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Referred to Ways and Means.
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First reading. Referred to Speaker's desk.
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Third reading. Carried by Johnson. Passed.
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Carried over to 06-22 by unanimous consent.
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Second reading.
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Recommendation: Do pass with amendments to the A-Eng. bill. (Printed B-Eng.)
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Work Session held.
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Public Hearing and Work Session held.
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Returned to Full Committee.
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Assigned to Subcommittee On Transportation and Economic Development.
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Referred to Ways and Means by order of the President.
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Recommendation: Do pass with amendments and be referred to Ways and Means. (Printed A-Eng.)
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Public Hearing and Work Session held.
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Referred to Business and Transportation.
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Introduction and first reading. Referred to President's desk.
Sponsorship breakdown
Export CSV (upgrade) →0 sponsors · 0 co-sponsors · 90 not signed on · 5 voted No
Sponsors (0)
None.
Co-sponsors (0)
None.
Not signed on (90)
90 members have not signed on to this bill.
Show all 90 →"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.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 37 | 1 | 0 | 3 |
| Democrat | 11 | 0 | 0 | 3 |
| Republican | 3 | 2 | 0 | 0 |
| Total | 51 | 3 | 0 | 6 |
| % of votes cast | 85% | 5% | 0% | 10% |
How each member voted (60)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 21 | 1 | 0 | 2 |
| Republican | 1 | 1 | 0 | 0 |
| Democrat | 4 | 0 | 0 | 0 |
| Total | 26 | 2 | 0 | 2 |
| % of votes cast | 87% | 7% | 0% | 7% |
How each member voted (30)
| Member | Party | Vote |
|---|---|---|
| Alan DeBoer | — | Yea |
| Alan Olsen | — | Not Voting |
| Arnie Roblan | — | Yea |
| Betsy Johnson | — | Yea |
| Bill Hansell | — | Yea |
| Brian Boquist | — | Yea |
| Chuck Riley | — | Yea |
| Chuck Thomsen | — | Yea |
| Dennis Linthicum | — | Nay |
| Elizabeth Steiner Hayward | — | Yea |
| Ginny Burdick | — | Yea |
| Herman Baertschiger Jr. | — | Not Voting |
| Jackie Winters | — | Yea |
| Jeff Kruse | — | Yea |
| Laurie Monnes Anderson | — | Yea |
| Lee Beyer | — | Yea |
| Mark Hass | — | Yea |
| Michael Dembrow | — | Yea |
| Peter Courtney | — | Yea |
| Richard Devlin | — | Yea |
| Rod Monroe | — | Yea |
| Sara Gelser | — | Yea |
| Ted Ferrioli | — | Yea |
| Tim Knopp | — | Yea |
| Floyd Prozanski | Democrat | Yea |
| James Manning Jr. | Democrat | Yea |
| Kathleen Taylor | Democrat | Yea |
| Lew Frederick | Democrat | Yea |
| Fred Girod | Republican | Nay |
| Kim Thatcher | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 32 | 0 | 0 | 0 |
| Democrat | 10 | 0 | 0 | 0 |
| Republican | 4 | 0 | 0 | 0 |
| Total | 46 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (46)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 3 | 0 | 0 | 1 |
| Republican | 0 | 1 | 0 | 0 |
| Total | 3 | 1 | 0 | 1 |
| % of votes cast | 60% | 20% | 0% | 20% |
How each member voted (5)
| Member | Party | Vote |
|---|---|---|
| Chuck Riley | — | Yea |
| Chuck Thomsen | — | Not Voting |
| Lee Beyer | — | Yea |
| Rod Monroe | — | Yea |
| Fred Girod | Republican | Nay |
Subjects
Frequently asked questions
- What does SB 98 do?
- Requires certain persons that service residential mortgage loans in this state to obtain or renew license. Specifies license application and renewal procedures and required fees. Prescribes duties of licensee and prohibits certain activities relating to negotiating or offering to negotiate modification of terms of residential mortgage loan. Requires licensee to maintain specified liquidity, operating reserves and net worth. Prescribes civil penalties against persons that engage in business as residential mortgage loan servicer without license. Permits Director of Department of Consumer and Business Services to remove member of licensee's governing body or licensee's officer under certain circumstances. Permits director to participate in multistate mortgage examinations under specified circumstances. Becomes operative January 1, 2018. Declares emergency, effective on passage.
- What is the current status of SB 98?
- This bill has been enacted into law. Introduced January 09, 2017. Enacted.
- Where can I track SB 98?
- Track SB 98 free on One Click Politics — get push/email alerts when it moves.
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