Introduced
by
To require a residential mortgage originator to be registered with the state in order to directly or indirectly receive any compensation or benefits from a mortgage broker, lender, or servicer other than his or her employer; and to prohibit a mortgage broker, lender, or servicer from compensating an unregistered residential mortgage originator who is not an employee. A residential mortgage originator is a person who assists another in obtaining a mortgage loan.
Referred to the Committee on Commerce
