STAND. COM. REP. NO. 714

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 1075
                                     




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Consumer Protection and Commerce, to which
was referred H.B. No. 1075 entitled: 

     "A BILL FOR AN ACT RELATING TO LENDER EXEMPTIONS,"

begs leave to report as follows:

     The purpose of this bill is to relieve foreign lenders of
certain licensing, registration, and regulatory requirements
presently imposed by law.

     Specifically the bill exempts foreign lenders from mortgage
broker and solicitor licensure and real estate collection
servicing agent registration.  The bill also repeals the
provision requiring foreign lenders to file a statement with the
Commissioner of Financial Institutions for mortgage loan
purposes.

     Your Committee finds that this bill will facilitate business
by foreign lenders in this State by reducing their costs of doing
business.

     Your Committee received favorable testimony from the
Commissioner of Financial Institutions.

     As affirmed by the record of votes of the members of your
Committee on Consumer Protection and Commerce that is attached to
this report, your Committee is in accord with the intent and

 
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                                 STAND. COM. REP. NO. 714
                                 Page 2

 
purpose of H.B. No. 1075 and recommends that it pass Second
Reading and be referred to the Committee on Finance.


                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Consumer
                                   Protection and Commerce,



                                   ______________________________
                                   RON MENOR, Chair

 
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