Introduced
by
To exempt a “leased employee” who performs services as the agent of only one mortgage broker, lender, or servicer from having to be licensed as a mortgage broker, lender, or servicer. “Leased employee” refers to "professional employer organizations" (PEOs), which are companies that "lease" employees to other firms on a long term basis but remain the employer of record for purposes of paying unemployment insurance taxes.
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the bill pass.
Amendment offered
To clarify the proposed exemption, so it applies to strictly to an individual who is actually doing work for just a single mortgage broker.
The amendment passed by voice vote
Passed in the Senate 35 to 0 (details)
Referred to the Committee on Banking and Financial Services
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 107 to 0 (details)
To exempt a “leased employee” who performs services as the agent of only one mortgage broker, lender, or servicer from having to be licensed as a mortgage broker, lender, or servicer. “Leased employee” refers to "professional employer organizations" (PEOs), which are companies that "lease" employees to other firms on a long term basis but remain the employer of record for purposes of paying unemployment insurance taxes.
