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JJB H05171'25 z_HB6203_INTR_1 wc95ds
HOUSE BILL NO. 6203
A bill to amend 2009 PA 75, entitled
"Mortgage loan originator licensing act,"
by amending section 19 (MCL 493.149).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 19. (1) At the time of making an initial application for 1
a mortgage loan originator license under this act, the applicant 2
shall pay to the commissioner director the annual operating fee 3
established by the commissioner director under subsection (2). 4
(2) The commissioner director shall annually establish a 5
July 03, 2026, Introduced by Rep. Tisdel and referred to Committee on Finance.
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JJB H05171'25 z_HB6203_INTR_1 wc95ds
schedule of fees that are sufficient to pay, but not to exceed, the 1
reasonably anticipated costs of the office of financial and 2
insurance regulation department for administering and enforcing 3
this act. The fee schedule shall must include all of the following: 4
(a) An annual fee for each licensed mortgage loan originator 5
in an amount established by the commissioner. director. For 6
purposes of this subdivision, the commissioner director shall 7
establish an amount for the annual fee that is sufficient to defray 8
the estimated cost of administering and enforcing the provisions of 9
this act. 10
(b) For amending or reissuing a mortgage loan originator 11
license, a fee of not less than $15.00 or more than $200.00. 12
(c) A licensed mortgage loan originator shall pay the actual 13
travel, lodging, and meal expenses incurred by employees of the 14
office of financial and insurance regulation department who travel 15
out of state to conduct an examination or investigation of a 16
licensed mortgage loan originator and the cost of independent 17
investigators employed under section 33(6)(a). 18
(3) Fees received under this act are not refundable. 19
(4) If any fees or penalties provided for in this act are not 20
paid when required, the attorney general may maintain an action 21
against the delinquent licensed mortgage loan originator for the 22
recovery of the fees and penalties together with interest and 23
costs. 24
(5) A licensed mortgage loan originator who fails to submit to 25
the commissioner director the reports required under section 33(3) 26
is subject to a penalty of $25.00 for each day a required report is 27
delinquent or $1,000.00, whichever is less. 28
(6) A mortgage loan originator license renewal fee that is not 29
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received on or before December 31 is subject to a penalty of $25.00 1
for each day the fee is delinquent or $1,000.00, whichever is less. 2
(7) Money received from the fees described in this section 3
shall must be deposited in the MBLSLA fund. As used in this 4
subsection, "MBLSLA fund" means the restricted account created 5
under section 8(8) of the mortgage brokers, lenders, and servicers 6
licensing act, 1987 PA 173, MCL 445.1658.residential mortgage 7
administration fund created in section 153 of the residential 8
mortgage licensing and supervision act. 9
(8) The annual operating fees set by the commissioner shall 10
director must not exceed the levels needed to cover the estimated 11
cost of enforcement of this act. 12
(9) As used in this section: 13
(a) "Department" means the department of insurance and 14
financial services. 15
(b) "Director" means the director of the department. 16
Enacting section 1. This amendatory act does not take effect 17
unless House Bill No. 6177 (request no. H05171'25) of the 103rd 18
Legislature is enacted into law. 19