WA People
BILL · 2009–10 SESSION

HB 1587: Mortgage brokr practices act

Authorizing the consideration of mitigating factors for enforcement actions under the mortgage broker practices act.

Summary

  • Requires the Department of Financial Institutions (DFI) to consider certain mitigating factors in any investigation or any enforcement action .
  • Limits the ability of the DFI to impose investigate or examine a licensee, order restitution or impose fines in certain situations unless there is high culpability by the licensee.

From the House Bill Analysis 2009 (HB 1587), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 23, 2009
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Steve Kirby (D-29)
Introduced
January 23, 2009 in the House
Last action
March 15, 2010
Companion bill
SB 5659
Budget
Has a fiscal note

AN ACT Relating to the consideration of mitigating factors for enforcement actions under the mortgage broker practices act;

Sponsors

Prime sponsor: Steve Kirby (D-29)

4 co-sponsors (2 Democrats, 2 Republicans)

Barbara Bailey R-10Christopher Hurst D-31Dan Roach R-31Geoff Simpson D-47

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. First reading, referred to Financial Institutions & Insurance.

HB 1587 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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