H.R. 2121: SAFE Transitional Licensing Act of 2015

114th Congress · introduced 2015-04-29 · Housing and Community Development · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2015-04-29 · official record
Who proposed it: Rep. Stivers, Steve [R-OH-15] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

SAFE Transitional Licensing Act of 2015

Plain summary

(Sec. 1) This bill amends the S.A.F.E. Mortgage Licensing Act of 2008 (Act) to state that, upon employment by a state-licensed mortgage company, an individual who is a registered loan originator shall be deemed to have temporary authority to act as one in an application state for a specified period if the individual: has not had an application for a loan originator license denied, or had such a license revoked or suspended in any governmental jurisdiction; has not been subject to or served with a cease and desist order in any governmental jurisdiction; has not been convicted of a felony that would preclude licensure under the law of the application state; has applied to be a state-licensed originator in the application state; and was registered in the Nationwide Mortgage Licensing System and Registry as a loan originator during the 12-month period preceding the date of the required information. A state-licensed loan originator shall also be deemed to have temporary authority to act as a loan originator in an application state for a specified period if the loan originator: (1) meets certain requirements; (2) is employed by a state-licensed mortgage company in the application state; and (3) was licensed in another state during the 30-day period before submitting the information required in connection with the application to the application state. Any person employing an individual deemed to have such temporary authority to act as a loan originator in an application state, and any such individual who engages in residential mortgage loan activities, shall be subject to the requirements of the Act and to state law to the same extent as if such individual was a loan originator licensed by the application state. (Sec. 2) The exemption from civil liability of the Consumer Financial Protection Bureau (CFPB), any state official or agency, or any organization serving as the administrator of the Nationwide Mortgage Licensing System and Registry (or a CFPB-established system), or any officer or employee of any such entity, by reason of a good faith action or omission while acting within the scope of office or employment that relates to the collection, furnishing, or dissemination of information concerning persons applying for licensing or registration as loan originators shall be limited to any such activities involving only information concerning applicants using the Nationwide Mortgage Licensing System and Registry.

Congressional Research Service summary (Passed House amended), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

SAFE Transitional Licensing Act of 2015

Source: Congressional Research Service summary (Passed House amended)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Stivers, Steve [R-OH-15] · 51 cosponsors

Cost estimate: CBO cost estimate: H.R. 2121, SAFE Transitional Licensing Act of 2015 (2016-04-12)

Cosponsors on this site

Terri A. Sewell (D-AL), Joyce Beatty (D-OH), Bill Huizenga (R-MI), Brad Sherman (D-CA), H. Morgan Griffith (R-VA), Gwen Moore (D-WI), Emanuel Cleaver (D-MO), Gregory W. Meeks (D-NY), John B. Larson (D-CT), James A. Himes (D-CT), Mike Quigley (D-IL), Bill Foster (D-IL), Roger Williams (R-TX), Andy Barr (R-KY), John R. Moolenaar (R-MI), Marsha Blackburn (R-TN), Michael R. Turner (R-OH)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Jurisdiction: The area or the matters a government or court has authority over.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Passed House amended)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr2121.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr2121 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114