2013 Regular Session



Refinancing of First Mortgage Loans - Subordination

Sponsored by:

Delegate Kramer


In the House - Unfavorable Report by Environmental Matters; Withdrawn

Synopsis:Providing that a secondary mortgage loan, or a secondary lien, shall retain the same subordinate position with respect to a mortgage or deed of trust securing a refinanced loan without requiring the agreement to the refinancing of the lender of the secondary mortgage loan, or the credit grantor of the loan secured by the secondary lien, under specified circumstances; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Delegates Kramer and Barkley
Additional Facts:Cross-filed with: SB0465
Bill File Type: Regular
Effective Date(s): October 1, 2013
Environmental Matters
Broad Subject(s):Commercial Law - Credit Regulation
Narrow Subject(s):Deeds
Financial Institutions -see also- Banks; Credit Unions; etc.
Liens -see also- Mechanics' Liens
Loans -see also- Mortgages
Statutes:Article - Commercial Law
(12-1001, 12-401, 12-1010.1, 12-408.1)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions

October 24, 2017 1:02 P.M.