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HB0081 • 2025

Regulatory reduction-mortgage loan licensing.

AN ACT relating to trade and commerce; providing exemptions from mortgage loan licensing requirements; and providing for an effective date.

Inactive

Wyoming marks this bill as inactive, which usually means it is no longer moving in the current session.

Sponsor
Representative Yin
Last action
2025-03-03
Official status
inactive
Effective date
3/1/2025

Plain English Breakdown

The bill's status is marked as inactive, meaning it did not pass into law.

Exemptions from Mortgage Loan Licensing

The bill proposes to exempt individuals who provide up to five residential mortgage loans in a year without compensation or gain, except for interest.

What This Bill Does

  • Adds a new paragraph (vii) to W.S. 40-23-105, which lists exemptions from mortgage loan licensing requirements.
  • Allows a person to act as a mortgage lender without needing a license if they provide financing for no more than five residential loans in any twelve-month period and do not receive compensation or gain other than interest paid under the loan.

Who It Names or Affects

  • Individuals who provide mortgage loan financing without receiving compensation or gain, except for interest.
  • The Wyoming Department of Banking and Consumer Credit which enforces licensing requirements.

Terms To Know

Exemption
A rule that allows certain people to be excluded from following a law or regulation.
Compensation
Money or other payment given in exchange for work done or services provided.

Limits and Unknowns

  • The bill does not specify who will enforce the new exemption.
  • It is unclear how this change might affect existing mortgage loan licensing requirements.
  • This bill was marked as inactive and did not become law.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HB0081HS001

Standing Committee • House Corporations, Elections & Political Subdivis

Adopted

Plain English: The amendment changes the title of HB0081 to remove references to 'originator' and modifies specific sections of the bill text related to mortgage loan licensing exemptions.

  • Removes mentions of 'originator' from the catch title and relevant lines in the bill text.
  • Updates a reference from '40-23-124(c)' to '40-23-105(a)' in the bill text.
  • Replaces instances of 'loan originator' with 'lender'.
  • Adds new language under section 40-23-105, providing exemptions from license requirements.
  • The amendment's technical changes may require further context to fully understand the implications for mortgage loan licensing.

Bill History

  1. 2025-03-03 Senate

    S:Died in Committee Returned Bill Pursuant to SR 5-4

  2. 2025-02-28 Senate

    S No report prior to CoW Cutoff

  3. 2025-02-24 Senate

    S09 - Minerals:Do Pass Failed 2-2-1-0-0

  4. 2025-02-13 Senate

    S Introduced and Referred to S09 - Minerals

  5. 2025-02-10 Senate

    S Received for Introduction

  6. 2025-02-10 House

    H 3rd Reading:Passed 59-0-3-0-0

  7. 2025-02-07 House

    H 2nd Reading:Passed

  8. 2025-02-06 House

    H COW:Passed

  9. 2025-01-27 House

    H Placed on General File

  10. 2025-01-27 House

    H07 - Corporations:Recommend Amend and Do Pass 8-1-0-0-0

  11. 2025-01-20 House

    H Introduced and Referred to H07 - Corporations

  12. 2025-01-02 House

    H Received for Introduction

  13. 2024-12-30 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
25LSO-0447
2025
STATE OF WYOMING
25LSO-0447
ENGROSSED
3.0

HOUSE BILL NO. HB0081

Regulatory reduction-mortgage loan licensing.

Sponsored by: Representative(s) Yin, Byron, Storer and Webb and Senator(s) Gierau

A BILL

for

AN ACT relating to trade and commerce; providing exemptions from mortgage loan licensing requirements; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 40
‑
23
‑
105(a) by creating a new paragraph (vii) is amended to read:

40
‑
23
‑
105.

Exemptions from license requirements.

(a)

The provisions of this act do not apply to:

(vii)

A person who acts as or engages in the business of a mortgage lender, without compensation or gain, by providing loan financing for not more than five (5) residential mortgage loans in any twelve (12) month period. For purposes of this exemption, "compensation or gain" shall exclude any interest paid under the loan financing provided.

Section 2
.

This act is effective July 1, 2025
.

(END)

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HB0081