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S 3106 111th Congress Senate Housing and Community Development Housing finance and home ownership Housing for the elderly and disabled Interest, dividends, interest rates Licensing and registrations Low- and moderate-income housing Social work, volunteer service, charitable organizations Tax-exempt organizations

Nonprofit Mortgage Licensing Clarification Act of 2010

Introduced: March 11, 2010 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 11, 2010
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 11, 2010
Introduced in Senate
 Plain-English summary Congressional Research Service

Nonprofit Mortgage Licensing Clarification Act of 2010 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to permit a state to exempt from certain registration or licensing requirements any charitable organization exempt from federal tax (including their employees and agents acting as loan originators), if the organization: (1) executes loan originations in order to promote or facilitate homeownership for certain low-income, disabled, or other disadvantaged persons or families; (2) offers loans at interest rates lower than the bank prime loan rate, or that are no-interest loans or loans with interest rates significantly below those for loans to purchase generally available single-family housing; and (3) does not otherwise engage in the business of a loan originator or mortgage broker.

What's happening now March 11, 2010

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

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2