US S1753

Bill

SAFE Transitional License Act

Introduced
08/03/2017

In Committee
08/03/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

SAFE Transitional License Act This bill amends the S.A.F.E. Mortgage Licensing Act of 2008 to temporarily allow loan originators that meet specified requirements to continue to originate loans after moving: (1) from one state to another, or (2) from a depository institution to a non-depository institution.

AI Summary

This bill amends the S.A.F.E. Mortgage Licensing Act of 2008 to provide a temporary license for loan originators who are transitioning between employers, either from a depository institution to a non-depository institution or across state lines. The bill allows these loan originators to continue originating loans for a limited period of time (up to 120 days) while they apply for a new state license, provided they meet certain requirements such as not having a previous license denial or revocation. The bill aims to eliminate barriers for loan originators moving between jobs or states, while still subjecting them to relevant laws and regulations during the transitional period.

Committee Categories

Housing and Urban Affairs

Sponsors (9)

Dean Heller (R)*, Joe Donnelly (D), Tim Kaine (D), Angus King (I), Bob Menendez (D), David Perdue (R), Tim Scott (R), Thom Tillis (R), Mark Warner (D),

Last Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 08/03/2017)

Official Document

https://www.congress.gov/bill/115th-congress/senate-bill/1753/all-info

(7 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/senate-bill/1753/all-info
BillText	https://www.congress.gov/115/bills/s1753/BILLS-115s1753is.pdf
Bill	https://www.congress.gov/115/bills/s1753/BILLS-115s1753is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR10	Financial CHOICE Act of 2017	Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.	Related
HR2948	To amend the S.A.F.E. Mortgage Licensing Act of 2008 to provide a temporary license for loan originators transitioning between employers, and for other purposes.	Placed on the Union Calendar, Calendar No. 414.	Related
HR3280	Financial Services and General Government Appropriations Act, 2018	Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.	Related
HR3354	Interior and Environment, Agriculture and Rural Development, Commerce, Justice, Science, Financial Services and General Government, Homeland Security, Labor, Health and Human Services, Education, State and Foreign Operations, Transportation, Housing and Urban Development, Defense, Military Construction and Veterans Affairs, Legislative Branch, and Energy and Water Development Appropriations Act, 2018 Make America Secure and Prosperous Appropriations Act, 2018	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.	Related
HR3978	TRID Improvement Act of 2017	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.	Related
HRes905	Providing for consideration of the bill (H.B. 5515) to authorize appropriations for fiscal year 2019 for military activities of the Department of Defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes; providing for consideration of the bill (S. 204) to authorize the use of unapproved medical products by patients diagnosed with a terminal illness in accordance with State law, and for other purposes; and providing for consider	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S2155	Economic Growth, Regulatory Relief, and Consumer Protection Act	Became Public Law No: 115-174.	Related

Bill

Bill Name

Last Action

Type

HR10

Financial CHOICE Act of 2017

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.

HR2948

To amend the S.A.F.E. Mortgage Licensing Act of 2008 to provide a temporary license for loan originators transitioning between employers, and for other purposes.

Placed on the Union Calendar, Calendar No. 414.

HR3280

Financial Services and General Government Appropriations Act, 2018

Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.

HR3354

Interior and Environment, Agriculture and Rural Development, Commerce, Justice, Science, Financial Services and General Government, Homeland Security, Labor, Health and Human Services, Education, State and Foreign Operations, Transportation, Housing and Urban Development, Defense, Military Construction and Veterans Affairs, Legislative Branch, and Energy and Water Development Appropriations Act, 2018 Make America Secure and Prosperous Appropriations Act, 2018

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.

HR3978

TRID Improvement Act of 2017

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HRes905

Providing for consideration of the bill (H.B. 5515) to authorize appropriations for fiscal year 2019 for military activities of the Department of Defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes; providing for consideration of the bill (S. 204) to authorize the use of unapproved medical products by patients diagnosed with a terminal illness in accordance with State law, and for other purposes; and providing for consider

Motion to reconsider laid on the table Agreed to without objection.

Similar To

S2155

Economic Growth, Regulatory Relief, and Consumer Protection Act

Became Public Law No: 115-174.

Bill > S1753

US S1753

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (9)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary