CONFERENCE COMMITTEE REP. NO. 45

Honolulu, Hawaii

, 2019

RE: H.B. No. 989

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. 989, H.D. 1, S.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO MORTGAGE SERVICERS,"

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:

(1) Authorize the Commissioner of Financial Institutions to issue cease and desist orders against licensees and unlicensed persons and to enter into consent orders; and

(2) Allow documents required to be filed in conjunction with mortgage servicing licensing to be filed electronically.

Your Committee on Conference has amended this measure by:

(1) Clarifying that documents required to be filed in conjunction with mortgage servicing licensing be filed through the NMLS, if NMLS is able to accept the document; and

(2) Changing the effective date to upon its approval.

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. 989, 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. 989, 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	____________________________ CHRIS LEE Co-Chair
	____________________________ TROY N. HASHIMOTO Co-Chair