,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #baba  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,april #bi1 #bjae ,mr4
 ,/iv]s 7= himself1 ,ms4 ,sewell (      
,alabama1 ,mr4 ,we/morel&1 ,mrs4        
,beatty1 ,mr4 ,mess]1 & ,ms4 ,s9ema7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to am5d ! ,s4,a4,f4,e4         
,mortgage ,lic5s+ ,act ( #bjjh to       
provide a tempor>y lic5se = loan        
orig9ators transition+ betwe5 employ]s1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,,safe             
,transitional ,lic5s+ ,act ( #bjae4  #b4
 ,loan orig9ator employm5t transitions  
,section #aejd ( ! ,s4,a4,f4,e4         
,mortgage ,lic5s+ ,act ( #bjjh 7#ab     
,u4,s4,c4 #eajc7 is am5d$ by add+ at !  
end ! foll[+ new subsection3  7c7       
,employm5t transition  7#a7 ,tempor>y   
lic5se = p]sons mov+ f a f9ancial       
in/itution to a non-bank orig9ator ,a   
regi/]$ loan orig9ator %all be deem$ to 
be a ,/ate-lic5s$ loan orig9ator = !    

#abj-;day p]iod beg9n+ on ! date t a    
,/ate-lic5s$ mortgage l5d]1 mortgage    
bank]1 or mortgage s]vic]1 t is n a     
depository in/itution1 regi/]s ) !      
,nationwide ,mortgage ,lic5s+ ,sy/em &  
,regi/ry t su* regi/]$ loan orig9ator is
 employ$ by su* ,/ate-lic5s$ mortgage   
l5d]1 mortgage bank]1 or mortgage       
s]vic]4  7#b7 ,tempor>y lic5se = p]sons 
mov+ int]/ate ,a regi/]$ loan orig9ator 
or ,/ate-lic5s$ loan orig9ator 9 "o     
,/ate %all be deem$ to be a ,/ate-lic5s$
 loan orig9ator 9 ano!r ,/ate = !       
#abj-;day p]iod beg9n+ on ! date t a    
,/ate-lic5s$ mortgage l5d]1 mortgage    
bank]1 or mortgage s]vic] 9 su* o!r     
,/ate regi/]s ) ! ,nationwide ,mortgage 
,lic5s+ ,sy/em & ,regi/ry t su* p]son is
 employ$ by su* ,/ate-lic5s$ mortgage   
l5d]1 mortgage bank]1 or mortgage       
s]vic]4  7#c7 ,f$]al & ,/ate recognition
 ,regi/ration pursuant to p>agraph 7#a7 
or 7#b7 %all fulfill any lic5s+ &       
regi/ration requirem5t = a loan         
orig9ator pursuant to ?is section & any 

,/ate law or regulation4  7#d7          
,applicability ,any p]son regi/]+ a     
regi/]$ loan orig9ator ) ! ,nationwide  
,mortgage ,lic5s+ ,sy/em & ,regi/ry "u  
?is subsection %all be subject to ?is   
,act & to applicable ,/ate law to ! same
 ext5t z if su* regi/]$ loan orig9ator 0
 lic5s$ & regi/]$ z a ,/ate-lic5s$ loan 
orig9ator "u subsection 7a74  4