,i  #aadth ,,congress  #ast ,session    
,h4 ,r4 #baba  ,,in ,,the ,,house ,,of  
,,representatives  ,april #bi1 #bjae    
,mr4 ,stivers 7for himself1 ,ms4 ,sewell
 of ,alabama1 ,mr4 ,westmoreland1 ,mrs4 
,beatty1 ,mr4 ,messer1 and ,ms4 ,sinema7
 introduced the following bill2 which   
was referred to the ,committee on       
,financial ,services  ,a ,,bill  ,to    
amend the ,s4,a4,f4,e4 ,mortgage        
,licensing ,act of #bjjh to provide a   
temporary license for loan originators  
transitioning between employers1 and for
 other purposes4  #a4 ,short title ,this
 ,act may be cited as the ,,safe        
,transitional ,licensing ,act of #bjae4 
#b4 ,loan originator employment         
transitions ,section #aejd of the       
,s4,a4,f4,e4 ,mortgage ,licensing ,act  
of #bjjh 7#ab ,u4,s4,c4 #eajc7 is       
amended by adding at the end the        
following new subsection3  7c7          
,employment transition  7#a7 ,temporary 
license for persons moving from a       
financial institution to a non-bank     

originator ,a registered loan originator
 shall be deemed to be a ,state-licensed
 loan originator for the #abj-;day      
period beginning on the date that a     
,state-licensed mortgage lender1        
mortgage banker1 or mortgage servicer1  
that is not a depository institution1   
registers with the ,nationwide ,mortgage
 ,licensing ,system and ,registry that  
such registered loan originator is      
employed by such ,state-licensed        
mortgage lender1 mortgage banker1 or    
mortgage servicer4  7#b7 ,temporary     
license for persons moving interstate ,a
 registered loan originator or          
,state-licensed loan originator in one  
,state shall be deemed to be a          
,state-licensed loan originator in      
another ,state for the #abj-;day period 
beginning on the date that a            
,state-licensed mortgage lender1        
mortgage banker1 or mortgage servicer in
 such other ,state registers with the   
,nationwide ,mortgage ,licensing ,system
 and ,registry that such person is      

employed by such ,state-licensed        
mortgage lender1 mortgage banker1 or    
mortgage servicer4  7#c7 ,federal and   
,state recognition ,registration        
pursuant to paragraph 7#a7 or 7#b7 shall
 fulfill any licensing and registration 
requirement for a loan originator       
pursuant to this section and any ,state 
law or regulation4  7#d7 ,applicability 
,any person registering a registered    
loan originator with the ,nationwide    
,mortgage ,licensing ,system and        
,registry under this subsection shall be
 subject to this ,act and to applicable 
,state law to the same extent as if such
 registered loan originator was licensed
 and registered as a ,state-licensed    
loan originator under subsection 7a74  4