2000 Regular Session

HOUSE BILL 1337

CHAPTER NUMBER: 691 File Code: Commercial Law - Credit Regulation Crossfiled with: SENATE BILL 872
Sponsored By:
Delegates Krysiak, Rosenberg, McIntosh, Rawlings, and Benson
Entitled:
Credit Regulation - Mortgage Lending

Synopsis:

Clarifying the fees that may be charged by a mortgage broker; prohibiting a mortgage broker from charging a specified finder's fee under specified circumstances; prohibiting a mortgage broker from receiving any fee in the form of a note, mortgage, or other evidence of indebtedness; prohibiting a finder's fee from being charged unless it is pursuant to a specified written agreement between the mortgage broker and the borrower; requiring that a copy of the agreement be provided to the borrower within a specified time period; etc.

History by Legislative Date

House Action
2/21
First Reading House Rules and Executive Nominations
2/28
Re-referred Commerce and Government Matters
Hearing 2/28 at 1:00 p.m.
3/15
Favorable with Amendments Report by Commerce and Government Matters
3/16
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/20
Third Reading Passed (139-0)
4/2
House Concur - Senate Amendments
Third Reading Passed (139-0)
Passed Enrolled
5/18
Signed by the Governor Chapter 691
Senate Action
3/21
First Reading Finance
3/22
Hearing 3/28 at 1:00 p.m.
3/29
Favorable with Amendments Report by Finance
3/30
Favorable with Amendments Report Adopted
Floor Amendment (Senator Bromwell) Adopted
Second Reading Passed with Amendments
3/31
Third Reading Passed with Amendments (47-0)
Sponsored by:
Delegate Carolyn J. Krysiak, District 46
Delegate Joanne C. Benson, District 24
Delegate Maggie L. McIntosh, District 42
Delegate Howard P. Rawlings, District 40
Delegate Samuel I. Rosenberg, District 42
Bill indexed under the following Subjects:
AGENTS AND BROKERS
CIRCUIT COURTS
CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
CRIMES AND PUNISHMENTS -see also- PENALTIES; SENTENCES; etc.
DISTRICT COURTS
EXAMINATIONS
FEES -see also- DEVELOPMENT FEES AND TAXES
INVESTIGATIONS AND INQUIRIES -see also- CRIM BCKGRND INVEST.
JURISDICTION
LABOR, LICENSING, AND REGULATION, DEPARTMENT OF
LICENSES -see also- ALCOHOLIC BEV LIC; DRIVERS' LICENSES
MORTGAGES
PENALTIES
Bill affects the following Statutes:
Commercial Law
( 12-804 , 12-805 )
Courts and Judicial Proceedings
( 4-301 , 4-301 , 4-301 , 4-302 )
Financial Institutions
( 11-512 , 11-515 , 11-517 , 11-523 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled (PDF)
Fiscal Note: Available (PDF)
Amendments:
House
Number: 796583/1 (PDF)     Offered on: March 16, 2000   at: 10:17 a.m.     Status: Adopted
Senate
Number: 157874/1 (PDF)     Offered on: March 30, 2000   at: 12:03 p.m.     Status: Adopted
Number: 227975/1 (PDF)     Offered on: March 30, 2000   at: 12:04 p.m.     Status: Incomplete
Roll Call Votes (Legislative dates are shown):
House
March 20, 2000: Third Reading Passed (139-0)
April 2, 2000: Third Reading Passed (139-0)
Senate
March 31, 2000: Third Reading Passed (47-0)