Mike Davis
- Democratic
Author
(1) Existing law prohibits any person from engaging in the business of, acting in the capacity of, advertising as, or assuming to act as, a real estate broker or a real estate salesperson without first obtaining a real estate license, as specified. This bill would additionally prohibit any person from engaging in the business of, acting in the capacity of, advertising as, or assuming to act as, a mortgage loan originator without having obtained a license endorsement, as specified. (2) Existing law, until January 1, 2013, prohibits any person who negotiates or arranges residential mortgage loan modifications, as specified, for a fee, from demanding or receiving preperformance compensation, as specified, or requiring security as collateral or taking a power of attorney from the borrower and makes a violation of that prohibition a misdemeanor subject to specified fines. Existing law, until January 1, 2013, also prohibits certain conduct by a real estate licensee in connection with a mortgage loan modification or forbearance, including demanding compensation before service is fully performed, taking a lien on property or wage assignment, or taking a power of attorney from the borrower. A violation of those prohibitions is a misdemeanor. This bill would extend the operation of the above-described provisions indefinitely. By extending the operation of existing crimes, this bill would impose a state-mandated local program. (3) Existing law provides that any person advertising or holding himself or herself out as practicing or entitled to practice law or otherwise practicing law who is not an active member of the State Bar, or any person acting or advertising themselves as a real estate broker, real estate salesperson, or mortgage loan originator without a license or license endorsement, is guilty of a misdemeanor. Existing law requires any person, including a person licensed to practice law, who performs a mortgage loan modification or other form of mortgage loan forbearance for a fee or other compensation, as specified, to provide a specified notice to the borrower concerning 3rd parties arranging loan modifications. Existing law also prohibits certain conduct by that person including, among other things, demanding compensation before service is fully performed, taking a lien on property or a wage assignment, or taking a power of attorney from the borrower. Existing law provides that a violation of these requirements or prohibitions is a misdemeanor with specified penalties. Existing law requires that a prosecution for these offenses be commenced within one year of the commission of the offense. This bill would extend the time to commence a prosecution for these offenses to 3 years from the discovery of the commission of the offense, or within 3 years after completion of the offense, whichever is later. (4) The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Chaptered by Secretary of State - Chapter 569, Statutes of 2012.
Approved by the Governor.
Enrolled and presented to the Governor at 5:45 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 56. Noes 22. Page 6359.).
Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 4704.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 24 pursuant to Assembly Rule 77.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 7. Noes 0.) (August 16).
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 0.) (July 3).
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass and re-refer to Com. on JUD. (Ayes 6. Noes 0.) (June 27). Re-referred to Com. on JUD.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 56. Noes 22. Page 5092.)
In committee: Set, first hearing. Referred to APPR. suspense file.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 12. Noes 5.) (May 25).
From committee chair, with author's amendments: Amend, and re-refer to Com. on APPR. Read second time and amended.
In committee: Hearing postponed by committee.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 2.) (April 25). Re-referred to Com. on APPR.
Read second time and amended.
From committee: Do pass as amended and re-refer to Com. on L. GOV. (Ayes 4. Noes 2.) (April 17).
From committee chair, with author's amendments: Amend, and re-refer to Com. on PUB. S. Read second time and amended.
From printer. May be heard in committee March 25.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1950 | HTML |
| 02/23/12 - Introduced | |
| 04/10/12 - Amended Assembly | |
| 04/19/12 - Amended Assembly | |
| 05/21/12 - Amended Assembly | |
| 08/06/12 - Amended Senate | |
| 08/31/12 - Enrolled | |
| 09/25/12 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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