CONFERENCE COMMITTEE REP. NO. 21

Honolulu, Hawaii

, 2019

RE: H.B. No. 988

H.D. 1

S.D. 2

C.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 988, H.D. 1, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO TRANSITIONAL AUTHORITY IN THE MORTGAGE INDUSTRY,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to implement section 106 of the federal Economic Growth, Regulatory Relief, and Consumer Protection Act, P.L. 115-174, and provide 120-day temporary authority to originate mortgage loans to:

(1) Certain mortgage loan originators, employed in the State by a state-licensed mortgage company who are moving from a depository institution to a non-depository institution; and

(2) Mortgage loan originators licensed in another state moving interstate to Hawaii.

Your Committee on Conference has amended this measure by:

(1) Inserting a definition of "this State" to clearly indicate the State of Hawaii and be clearly distinguished from the definition of "state," which means any state of the United States, the District of Columbia, or any of the territories; and

(2) Making technical, nonsubstantive amendments for clarity, consistency, and style.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 988, H.D. 1, S.D. 2, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 988, H.D. 1, S.D. 2, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ ROSALYN H. BAKER Chair	____________________________ ROY M. TAKUMI Co-Chair
____________________________ KARL RHOADS Co-Chair	____________________________ TROY N. HASHIMOTO Co-Chair