Nonprofit Mortgage Licensing Clarification Act of 2010
Latest action. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nonprofit Mortgage Licensing Clarification Act of 2010 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to permit a state to exempt from certain registration or licensing requirements any charitable organization exempt from federal tax (including their employees and agents acting as loan originators), if the organization: (1) executes loan originations in order to promote or facilitate homeownership for certain low-income, disabled, or other disadvantaged persons or families; (2) offers loans at interest rates lower than the bank prime loan rate, or that are no-interest loans or loans with interest rates significantly below those for loans to purchase generally available single-family housing; and (3) does not otherwise engage in the business of a loan originator or mortgage broker.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on March 11, 2010. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on March 11, 2010: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 111th Congress (2009-10), 383 of the 10,778 bills and joint resolutions introduced became law, about 3.6 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Kay Hagan (D-NC) introduced it on March 11, 2010, and 9 members have since signed on as cosponsors.
They come from both major parties: 5 Democrats, 4 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on March 11, 2010, 6075 days ago. The most recent recorded action was 6075 days ago, on March 11, 2010.
Measures do not carry over. Anything the 111th Congress has not finished by January 3, 2011 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers