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Bills · 2025-2026 Regular Session

AB 313

Died at session end Official bill text Atom feed

Relating to: the minimum net worth requirement for licensed mortgage brokers.

Banking division of Mortgage

  1. Introduced, stopped here
  2. Passes Assembly, not reached
  3. Passes Senate, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Under current law, a person may not act as a mortgage broker unless the person is licensed by the Division of Banking in the Department of Financial Institutions. A mortgage broker is a person who, among other activities, assists others, for compensation, in obtaining or applying for loans but does not make underwriting decisions or close loans. Currently, an applicant for a mortgage broker license must, among other things, submit evidence of a minimum net worth of $100,000. This bill repeals the minimum net worth requirement for mortgage broker licensure.

Sponsors

Introduced by: Brooks (R) , Franklin (R) , Goodwin (D) , Green (R) , Knodl (R) , Kreibich (R) , O'Connor (R) , Piwowarczyk (R)

2 cosponsors

Kapenga (R) , Stafsholt (R)

Registered lobbying interests · 4

Organizations that registered lobbying activity on this bill with the Wisconsin Ethics Commission. Registration means interest, not a position for or against. Official record

Votes

Assembly: Report passage recommended by Committee on Financial Institutions, Ayes 5, Noes 3

Passed 5–3 Oct 8, 2025 official source full page

No individual roll call was recorded for this vote. Committee votes and some older sessions record totals only.

Full history

  1. Jun 6, 2025 · Assembly

    Introduced by Representatives Brooks, Franklin, Goodwin, Green, Knodl, Kreibich, O'Connor, Piwowarczyk and Prado; cosponsored by Senators Stafsholt and Kapenga

  2. Jun 6, 2025 · Assembly

    Read first time and referred to Committee on Financial Institutions

  3. Sep 3, 2025 · Assembly

    Public hearing held

  4. Oct 1, 2025 · Assembly

    Executive action taken

  5. Oct 8, 2025 · Assembly

    Report passage recommended by Committee on Financial Institutions, Ayes 5, Noes 3

  6. Oct 8, 2025 · Assembly

    Referred to committee on Rules

  7. Jan 8, 2026 · Assembly

    Placed on calendar 1-13-2026 by Committee on Rules

  8. Jan 12, 2026 · Assembly

    Representative Prado withdrawn as a coauthor

  9. Jan 13, 2026 · Assembly

    Laid on the table

  10. Mar 23, 2026 · Assembly

    Failed to pass pursuant to Senate Joint Resolution 1