Technical changes for mortgage loan originators’ licensing get House OK

The House passed a bill Monday that would make technical changes to the statutes governing licensing requirements for mortgage loan originators.

Sponsored by Rep. Dario Anselmo (R-Edina), HF3158 would change the phrasing “Nationwide Mortgage Licensing System and Registry” and similar terms to “Nationwide Multistate Licensing System and Registry.”

It would also add a one-hour requirement of Minnesota state law and rules to the annual continuing education regulations for licensed mortgage loan originators.

The House passed the bill 126-0, sending it to the Senate where Sen. Eric Pratt (R-Prior Lake) is the sponsor.

“This is something that will help them, help our economy and will be ideal to pass,” Anselmo said.