HLS 15RS-1074 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 354
BY REPRESENTATIVE PONTI
FINANCIAL INSTITUTIONS: Provides relative to licensing fees for mortgage lenders,
mortgage brokers, mortgage servicers, and mortgage originators
1 AN ACT
2To amend and reenact R.S. 6:1088.2(A), relative to licensing fees applicable to mortgage
3 lenders, mortgage brokers, mortgage servicers, and mortgage originators; to increase
4 license application fees for mortgage lenders, mortgage brokers, mortgage servicers,
5 and mortgage originators; to increase license renewal fees for mortgage lenders,
6 mortgage brokers, mortgage servicers, and mortgage originators; and to provide for
7 related matters.
8Be it enacted by the Legislature of Louisiana:
9 Section 1. R.S. 6:1088.2(A) is hereby amended and reenacted to read as follows:
10 ยง1088.2. Application for licensure; application and renewal fees
11 A. The application shall be accompanied by the following nonrefundable
12 fees as determined by and payable to paid as directed by the commissioner:
13 (1) In the case of an application for a license to act as a mortgage lender,
14 mortgage broker, mortgage servicer, or combination of any, a license fee in an
15 amount not to exceed four five hundred dollars.
16 (2) In the case of an application for a license to act as an originator, a license
17 fee in an amount not to exceed one two hundred dollars.
18 (3) An annual license renewal fee for each person licensed as a mortgage
19 broker, mortgage lender, or mortgage servicer in an amount not to exceed three four
20 hundred dollars.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-1074 ORIGINAL
HB NO. 354
1 (4) An annual license renewal fee for each originator in an amount not to
2 exceed one two hundred dollars.
3 * * *
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 354 Original 2015 Regular Session Ponti
Abstract: Increases the license application fees and the license renewal fees applicable to
mortgage lenders, mortgage brokers, mortgage servicers, and mortgage originators.
Present law requires mortgage lenders, mortgage brokers, mortgage servicers, mortgage
originators, or any combination of any of those to pay license application fees to the
commissioner of financial institutions. Proposed law requires mortgage lenders, mortgage
brokers, mortgage servicers, mortgage originators, or any combination of any of those to pay
license application fees as directed by the commissioner.
Present law requires mortgage lenders, mortgage brokers, mortgage servicers, or
combination of any of those to pay a license application fee in the amount of $400.00.
Proposed law increases the amount of the application fee to $500.00.
Present law requires mortgage originators to pay a license application fee in the amount of
$100.00. Proposed law increases the amount of the application fee to $200.00.
Present law requires mortgage lenders, mortgage brokers, and mortgage servicers to pay an
annual license renewal fee in an amount not to exceed $300.00. Proposed law increases the
annual license renewal fee maximum to $400.00.
Present law requires mortgage originators to pay an annual license renewal fee in an amount
not to exceed $100.00. Proposed law increases the annual license renewal fee maximum to
$200.00.
(Amends R.S. 6:1088.2(A))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.