This bill amends and reenacts section 64-7-1 of the Code of West Virginia, 1931, to authorize the Division of Financial Institutions to promulgate a legislative rule concerning residential mortgage lenders, brokers, and loan originators. The legislative rule in question was filed in the State Register on July 24, 2025, and subsequently modified to address the concerns of the Legislative Rule-Making Review Committee before being refiled on September 10, 2025.

The bill aims to streamline the regulatory framework for residential mortgage activities by granting the Division of Financial Institutions the authority to implement necessary rules. This legislative action is intended to enhance oversight and ensure compliance within the mortgage lending sector in West Virginia.

Statutes affected:
Introduced Version: 64-7-1