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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1096 |
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TWENTY-EIGHTH LEGISLATURE, 2015 |
H.D. 2 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 454F-10.5, Hawaii Revised Statutes, is amended by amending subsection (g) to read as follows:
"(g) The principal place of business and
each branch office of the mortgage loan originator company shall be identified
in NMLS to consumers as a location at which the licensee holds itself out as a
mortgage loan originator company. Each such location shall be open for
business to the public during posted business hours which, at a minimum,
shall be [during] offered within regular business hours. If a
location is in a commercial building, then the business hours shall be posted
on or adjacent to the main office door of the mortgage loan originator
company's location, and visible to the public from outside the location. If a
location is not in a commercial building, or such posting is not permitted by
the commercial building, then the business hours shall be posted on the home
page of the mortgage loan originator company's website, along with the address
and phone number of the location. Business hours, whether posted at a location
or on a mortgage loan originator company website, shall be displayed in a
clear, conspicuous, and accurate manner [to inform] that informs
the consumer when the location will be open."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2030.
Report Title:
Residential Mortgage Loans; Mortgage Loan Originator Companies; Posted Business Hours
Description:
Specifies that mortgage loan originator companies shall be open for business to the public during posted business hours, which at a minimum shall be offered within regular business hours. (HB1096 HD2)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.