An Act to amend and reenact §§ 6.2-1600, 6.2-1605, and 6.2-1608 of the Code of Virginia, relating to mortgage lenders and brokers; criminal history records check.
HB1307 amends Virginia’s mortgage lender and mortgage broker licensing laws to update the definitions used in Chapter 16 of Title 6.2 and to revise the application review process for licensees. The bill specifically addresses the background-check requirements for people associated with an applicant, including members, senior officers, directors, and principals, by requiring consent to national and state criminal history records checks and fingerprinting as part of the Commissioner’s investigation of applications.
The measure also makes conforming changes to the statutory definitions governing mortgage lending and brokerage, including terms such as “mortgage lender,” “mortgage broker,” “mortgage loan,” “office,” and “remote location.” These changes appear aimed at clarifying how mortgage businesses are regulated and how the licensing framework applies to modern business structures and operating locations.
The bill amends §§ 6.2-1600, 6.2-1605, and 6.2-1608 of the Code of Virginia, affecting the licensing and oversight of mortgage lenders and mortgage brokers in the Commonwealth. It expands or clarifies the Commissioner’s authority to investigate applicants and requires criminal history records checks and fingerprinting for key individuals connected to an applicant, which may affect licensing timelines, compliance costs, and eligibility determinations for mortgage industry participants.
Based on the available record, the bill appears to have been noncontroversial and received enough support to be enacted as Chapter 773. There are no committee transcripts or recorded votes in the provided materials showing opposition or extended debate, suggesting the measure was treated as a technical or regulatory update rather than a highly contested policy change.
No specific points of contention are documented in the provided materials. The most likely areas of concern would have been the added background-check and fingerprinting requirements for applicants’ principals and officers, along with any compliance burden on mortgage lenders and brokers. However, the absence of recorded debate or vote details means no particular individual, group, or chamber position can be identified from the record provided.