STAND. COM. REP. NO.  229

 

Honolulu, Hawaii

                , 2009

 

RE:   H.B. No. 1071

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Sir:

 

     Your Committee on Housing, to which was referred H.B. No. 1071 entitled:

 

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

 

begs leave to report as follows:

 

     The purpose of this bill is to establish within the Department of Commerce and Consumer Affairs (DCCA) a licensure and regulation system over mortgage servicers of residential mortgage loans secured by residential real property located in Hawaii.

 

     DCCA testified in support of this bill.  The Hawaii Financial Services Association supported the intent of this measure.

 

     Your Committee has amended this bill by:

 

(1)  Placing the responsibility for licensing mortgage servicers under DCCA's Professional and Vocational Licensing Division, instead of the Division of Financial Institutions; and

 

(2)  Making technical, nonsubstantive amendments for style, clarity, and consistency.

 


     As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1071, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1071, H.D. 1, and be referred to the Committee on Consumer Protection & Commerce.

 

Respectfully submitted on behalf of the members of the Committee on Housing,

 

 

 

 

____________________________

RIDA CABANILLA, Chair