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Crafting Laws

Washington’s Senate – Senate hearings on new laws for mortgage brokers SB 5578. Richard Hagar was involved with the creation of Washington’s original AMortgage Brokers Practices Act@ RCW 19.146 and was asked to speak before the House and Senate regarding updating of the law and including provisions for licensing loan originators as well as mortgage brokers. Read More

Washington’s House – House hearings on new laws for mortgage brokers, HB 2340. Richard Hagar was involved with the creation of Washington’s original AMortgage Brokers Practices Act@ RCW 19.146 and was asked to speak before the House and Senate regarding updating of the law and including provisions for licensing loan originators as well as mortgage brokers. Read More

Washington’s Senate – Senate hearings on HB 6167, extending the law that allows the state to collect $1.00 from every real estate recording and apply the funds to a Mortgage Prosecution Account. Funds from the account are used to fund prosecution of mortgage fraud committed by real estate agents, brokers, mortgage brokers and appraisers. Mr. Hagar was asked to speak to the Senate Committee regarding the impacts on this bill on the real estate industry. Read More

Washington’s House – House hearings on HB 2338, extending the law that allows the state to collect $1.00 from every real estate recording and apply the funds to a Mortgage Prosecution Account. Funds from the account are used to fund prosecution of mortgage fraud committed by real estate agents, brokers, mortgage brokers and appraisers. Mr. Hagar was asked to speak to the House Committee regarding the impacts on this bill on the real estate industry. Read More

Washington’s Department of Financial Institutions – The mortgage brokerage commission is in the process of revamping laws governing mortgage brokers and loan originators in the state and Mr Hagar was there.

Main Rule Making Page, with links to audio, comments and meeting minutes More

April 10 Meeting Minutes | More

July 27 Meeting Minutes | Complete Meeting Notes | More

August 3 Complete Meeting Notes | More

August 9 More

Washington’s Senate – Senate hearings on new laws for mortgage brokers SB 5575. Richard Hagar was involved with the creation of Washington’s original AMortgage Brokers Practices Act@ RCW 19.146 and was asked to speak before the House and Senate regarding updating of the law in 1997/98. Read More

American Association of Mortgage Regulators – This is an association of mortgage regulators from 49 states. The associations members include regulators, investigators, law enforcement and prosecutors from state and federal levels. They get together twice a year for training and discussion on state and federal laws.

Their primary goals are:
(a) promote the exchange of information between and among the executives and employees of the various states who are charged with the responsibility, pursuant to the laws of the individual states, for the administration and regulation of residential mortgage lending, servicing and brokering;
(b) assist in resolving conflicts of jurisdiction in relation to mortgage lending, servicing, and brokering;
(c) promote a better understanding of mortgage regulation;
(d) develop model legislation applicable to the administration and regulation of mortgage lending, servicing and brokering;

Richard Hagar SRA was an invited guest, providing training on appraisal fraud and how the laws of Washington and Oregon have impacted the mortgage and real estate industry. Read More

Fraud Training School
http://www.aarmr.org/page07.htm

Annual Regulatory Conference
http://aarmr.org/page08.htm