Financial institutions: mortgage brokers and lenders; residential mortgage licensing and supervision act; establish. Creates new act & repeals (See bill).

Summary

The bill creates a Residential Mortgage Licensing and Supervision Act that would set licensing requirements and oversight for mortgage brokers and lenders. It would affect financial institutions that originate residential mortgages and the consumers they serve, aiming to improve accountability in the mortgage market.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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