1.1    .................... moves to amend H.F. No. 3774 as follows:
1.2Page 1, after line 18, insert:

1.3    "Sec. 3. Minnesota Statutes 2006, section 58.14, subdivision 3, is amended to read:
1.4    Subd. 3. Documentation and resolution of complaints. A licensee or exempt
1.5person must investigate and attempt to resolve complaints made regarding acts or practices
1.6subject to the provisions of this chapter. If a complaint is received in writing, the licensee
1.7or exempt person must maintain a file containing all materials relating to the complaint
1.8and subsequent investigation for a period of 26 60 months.

1.9    Sec. 4. Minnesota Statutes 2006, section 58.14, subdivision 4, is amended to read:
1.10    Subd. 4. Trust account records for mortgage originators. A residential mortgage
1.11originator shall keep and maintain for 26 60 months a record of all trust funds, sufficient
1.12to identify the transaction, date and source of receipt, and date and identification of

1.14    Sec. 5. Minnesota Statutes 2006, section 58.14, subdivision 5, is amended to read:
1.15    Subd. 5. Record retention. A licensee or exempt person must keep and maintain
1.16for 26 60 months the business records, including advertisements, regarding residential
1.17mortgage loans applied for, originated, or serviced in the course of its business."
1.18Renumber the sections in sequence and correct internal references
1.19Amend the title as follows:
1.20Page 1, line 3, before the semicolon, insert "and modifying records retention periods"
1.21Correct the title numbers accordingly