Legislation - HB1018

Title: Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures
Sponsored by: Delegate Pruski
Status: In the House - Second Reading Passed
Analysis: Fiscal and Policy Note

Synopsis

Requiring banking institutions, credit unions, mortgage lenders, mortgage lending businesses, and mortgage loan originators to include a certain provision in certain conventional home mortgage loans authorizing a certain borrower to purchase the property interest of a certain borrower in connection with a decree of absolute divorce if the lending entity determines that the assuming borrower qualifies for the loan; applying certain provisions of the Act retroactively; etc.

Committees

Original:: Economic Matters Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: SB0689

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber House Calendar Date 2/03/2025 Legislative Date 2/03/2025 Action First Reading Economic Matters Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures Proceedings
Chamber House Calendar Date 2/04/2025 Legislative Date 2/04/2025 Action Hearing 2/18 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Economic Matters Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/03/2025 Legislative Date 3/03/2025 Action Favorable Report by Economic Matters Proceedings
Chamber House Calendar Date 3/04/2025 Legislative Date 2/25/2025 Action Favorable Adopted Proceedings 37BClick to view Recorded Media
Chamber House Calendar Date 3/04/2025 Legislative Date 2/25/2025 Action Motion Special Order until 03/05 (Delegate Griffith) Adopted Proceedings 37BClick to view Recorded Media
Chamber House Calendar Date 3/05/2025 Legislative Date 2/26/2025 Action Floor Amendment {833926/1 (Delegate Griffith) Rejected (37-96) Proceedings 38 Click to view Recorded Media
Chamber House Calendar Date 3/05/2025 Legislative Date 2/26/2025 Action Second Reading Passed Proceedings 38 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/03/2025	2/03/2025	First Reading Economic Matters
			Text - First - Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures
House	2/04/2025	2/04/2025	Hearing 2/18 at 1:00 p.m.
			Vote - House - Committee - Economic Matters	Click to view Recorded Media
House	3/03/2025	3/03/2025	Favorable Report by Economic Matters
House	3/04/2025	2/25/2025	Favorable Adopted	37BClick to view Recorded Media
House	3/04/2025	2/25/2025	Motion Special Order until 03/05 (Delegate Griffith) Adopted	37BClick to view Recorded Media
House	3/05/2025	2/26/2025	Floor Amendment {833926/1 (Delegate Griffith) Rejected (37-96)	38 Click to view Recorded Media
House	3/05/2025	2/26/2025	Second Reading Passed	38 Click to view Recorded Media
			Text - Third - Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures

File Code

Subjects

Statutes