Legislature(2009 - 2010)
04/10/2009 04:36 PM House L&C
| Audio | Topic |
|---|---|
| Start | |
| HB222 | |
| HB221 | |
| Board of Barbers and Hairdressers|| Board of Chiropractic Examiners|| Board of Dental Examiners|| Alaska Labor Relations Agency|| Board of Marine Pilots|| Board of Marital and Family Therapy|| Board of Certified Direct-entry Midwives|| Board of Nursing|| Occupational Safety and Health Review Board|| Board of Examiners in Optometry|| Board of Pharmacy|| State Physical Therapy and Occupational Therapy Board|| Board of Professional Counselors|| Board of Psychologist and Psychological Associate Examiners|| Board of Certified Real Estate Appraisers|| Real Estate Commission|| Regulatory Commission of Alaska (rca)|| Board of Social Work Examiners|| Board of Veterinary Examiners|| Workers' Compensation Appeals Commission|| Alaska Workers' Compensation Board | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
HB 221-MORTGAGE LENDING REGULATION 4:44:47 PM CHAIR OLSON announced that the next order of business would be HOUSE BILL NO. 221, "An Act relating to the state's participation in the federal Nationwide Mortgage Licensing System and Registry, and to mortgage lending regulation and licensing; and providing for an effective date." 4:45:04 PM TYSON FICK, Legislative Liaison, Office of the Commissioner, Department of Commerce, Community, & Economic Development (DCCED), introduced himself. 4:45:25 PM REPRESENTATIVE LYNN made a motion to adopt the committee substitute (CS) for HB 221 labeled 26-LS0856\R, Bannister, 4/9/09.[Version R was before the committee.] CHAIR OLSON objected for purpose of discussion. 4:45:47 PM MR. FICK explained that HB 221 makes a single change to the state's mortgage licensing law. He indicated that two things need to happen in order for Alaska's law to comply with the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act). The SAFE Act requires all states to implement a mortgage law that confirms to its requirements by July 30, 2009, and that all states use a national database for licensing mortgage loan originators. This bill would allow the Department of Commerce, Community, & Economic Development to participate in the National Mortgage Licensing System (NMLS) and use their database, which is the time sensitive element. The fiscal note provides for the one-time fee of $50,000 to join the NMLS, and $20,000 for computer system upgrades. 4:46:36 PM CHAIR OLSON commented that this bill has been a collaborative effort between his office and Representative Lynn's office. He stated his intention to continue to work on the remaining issue during the interim. He explained that the issue is complex. 4:47:08 PM MR. FICK mentioned that the sunset date in the bill sends an odd message to the HUD since the state will join the national database, but will stop using the database in 2012. 4:48:21 PM CHAIR OLSON removed his objection. [Version R was before the committee.] REPRESENTATIVE BUCH made a motion to adopt Conceptual Amendment 1, on page 1, line 14, to change the date from July 1, 2012 to July 1, 2014. There being no objection, Conceptual Amendment 1 was adopted CHAIR OLSON, after first determining no one else wished to testify, closed public testimony on HB 221. REPRESENTATIVE COGHILL moved to report the committee substitute (CS) for HB 221, Version 26-LS0856\R, Bannister, 4/9/09, as amended, out of committee with individual recommendations and the accompanying fiscal note. There being no objection, the CSHB 221(L&C) was reported from the House Labor and Commerce Standing Committee.
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