United States · Bill · S
S. 3106 (111th)
Nonprofit Mortgage Licensing Clarification Act of 2010
Introduced
11 March 2010
Last action
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Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
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Subjects
Discovery layer
Source updated
14 August 2025
Summary
Nonprofit Mortgage Licensing Clarification Act of 2010 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to permit a state to exempt from certain registration or licensing requirements any charitable organization exempt from federal tax (including their employees and agents acting as loan originators), if the organization: (1) executes loan originations in order to promote or facilitate homeownership for certain low-income, disabled, or other disadvantaged persons or families; (2) offers loans at interest rates lower than the bank prime loan rate, or that are no-interest loans or loans with interest rates significantly below those for loans to purchase generally available single-family housing; and (3) does not otherwise engage in the business of a loan originator or mortgage broker.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 11 March 2010
Introduced in Senate (PDF)
Introduced in Senate · EN · 11 March 2010
Introduced in Senate
summary · EN · 11 March 2010
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/111th-congress/senate-bill/3106
- Open data entity: https://api.congress.gov/v3/bill/111/s/3106