(1) Existing law provides for the licensure and regulation of mortgage loan originators, as defined, by the Commissioner of Corporations under the California Finance Lenders Law and the California Residential Mortgage Lending Act. Existing law requires a real estate license endorsement by the Real Estate Commissioner under the Real Estate Law for a real estate licensee to engage in the business of a mortgage loan originator. Existing law prohibits the issuance of a mortgage loan originator license or a license endorsement to act as a mortgage loan originator if the applicant for a license or license endorsement has been convicted of, or pled guilty or nolo contendere to, a felony during the 7-year period preceding the date of the application for licensing or at any time preceding the date of application if the felony involved an act of fraud, dishonesty, a breach of trust, or money laundering.
California SB 217 (20112012) — Mortgage loan originators: licensure.
(1) Existing law provides for the licensure and regulation of mortgage loan originators, as defined, by the Commissioner of Corporations under the California Finance Lenders Law and the California Residential Mortgage Lending Act. Existing law requires a real estate license endorsement by the Real Estate Commissioner under the Real Estate Law for a real estate licensee to engage in the business of a mortgage loan originator. Existing law prohibits the issuance of a mortgage loan originator license or a license endorsement to act as a mortgage loan originator if the applicant for a license or license endorsement has been convicted of, or pled guilty or nolo contendere to, a felony during the 7-year period preceding the date of the application for licensing or at any time preceding the date of application if the felony involved an act of fraud, dishonesty, a breach of trust, or money laundering.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
SB 217 Vargas Senate Third Reading By ENG — 78–0 (pass) · lower
Do pass as amended and be re-referred to the Committee on Appropriations. — 11–0 (pass) · lower
From committee: That the Assembly Amendments be concurred in. — 6–0 (pass) · upper
Special Consent #3 — 39–0 (pass) · upper
SB 217 Vargas Senate Third Reading By ENG — 77–1 (pass) · lower
Sponsors
Vargas — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2011-02-09 Introduced. Read first time. To Com. on RLS. for assignment. To print. introduction, reading-1
2011-02-10 From printer. May be acted upon on or after March 12.
2011-02-17 Referred to Coms. on B. & F.I. and JUD. referral-committee
2011-02-24 Set for hearing April 6.
2011-04-07 From committee: Do pass and re-refer to Com. on JUD. with recommendation: To consent calendar. (Ayes 7. Noes 0. Page 579.) (April 6). Re-referred to Com. on JUD. referral-committee, committee-passage, committee-passage-favorable
2011-04-29 Set for hearing May 10.
2011-05-11 From committee: Do pass. (Ayes 5. Noes 0. Page 950.) (May 10). committee-passage, committee-passage-favorable
2011-05-12 Read second time. Ordered to third reading. reading-2, reading-1
2011-05-18 Ordered to special consent calendar.
2011-05-23 Read third time. Passed. (Ayes 39. Noes 0. Page 1067.) Ordered to the Assembly. reading-3, reading-1, passage
2011-05-23 In Assembly. Read first time. Held at Desk. reading-1
2011-06-02 Referred to Com. on B. & F. referral-committee
2011-06-16 From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F. reading-2, reading-1, committee-passage, amendment-passage, referral-committee
2011-06-28 From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (June 27). amendment-passage, committee-passage, committee-passage-favorable
2011-06-29 Read second time and amended. Re-referred to Com. on APPR. reading-2, reading-1, amendment-passage, referral-committee
2011-07-13 Set, first hearing. Hearing canceled at the request of author.
2011-08-15 From committee with author's amendments. Read second time and amended. Re-referred to Com. on APPR. reading-2, reading-1, committee-passage, amendment-passage, referral-committee
2011-08-18 From committee: Do pass. (Ayes 17. Noes 0.) (August 17). committee-passage, committee-passage-favorable
2011-08-22 Read second time. Ordered to third reading. reading-2, reading-1
2011-08-25 Read third time and amended. (Page 2582.) reading-3, reading-1, amendment-passage
2011-08-25 Ordered to third reading.
2011-08-30 Read third time. Passed. (Ayes 77. Noes 1. Page 2688.) Ordered to the Senate. reading-3, reading-1, passage
2011-08-31 Action rescinded whereby the bill was read a third time, passed, and ordered to Senate.
2011-08-31 Ordered to third reading.
2011-09-01 Read third time and amended. (Page 2772.) reading-3, reading-1, amendment-passage
2011-09-01 Ordered to third reading.
2011-09-07 Read third time. Passed. (Ayes 78. Noes 0. Page 3007.) Ordered to the Senate. reading-3, reading-1, passage
2011-09-07 In Senate. Concurrence in Assembly amendments pending.
2011-09-08 Re-referred to Com. on RLS. pursuant to Senate Rule 29.10. referral-committee
2011-09-08 From committee: Be re-referred to Com. on B. & F.I. pursuant to Senate Rule 29.10. (Ayes 5. Noes 0. Page 2382.) Re-referred to Com. on B. & F.I. referral-committee, committee-passage
2011-09-08 From committee: That the Assembly amendments be concurred in. (Ayes 6. Noes 0. Page 2433.) committee-passage
2011-09-08 Assembly amendments concurred in. (Ayes 40. Noes 0. Page 2421.) Ordered to engrossing and enrolling. committee-passage-favorable, amendment-passage
2011-09-14 Enrolled and presented to the Governor at 11:30 a.m.
2011-10-03 Approved by the Governor. executive-signature
2011-10-03 Chaptered by Secretary of State. Chapter 444, Statutes of 2011.
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/89e8cb7b-6363-44b2-9b32-d431780e0b88. Confidence: reported (aggregated from official California legislature records).