File Code: Commercial Law - Credit Regulation
- Sponsored By:
-
Delegates Curran and
Faulkner
- Entitled:
-
Consumer Credit - Mortgage Lenders - Regulatory Reform and Antifraud
Protections
Altering the licensing and regulation of mortgage lenders and brokers;
adding specified exemptions; imposing additional licensure
requirements; specifying fees, penalties, bonding requirements, etc.,
for mortgage brokers; revising the payment schedule and increasing the
term for specified licensure fees; altering specified credit laws;
increasing the ceiling on the points and other fees that lenders may
charge consumers when offering credit; clarifying that mortgage
brokers may not enter into exclusive dealing contracts; etc.
House Action
- 2/27
- First Reading House Rules
- 3/3
- Re-referred Commerce and Government Matters
- Hearing 3/4 at 1:15 p.m.
- 3/11
- Favorable with Amendments Report by Commerce and Government Matters
- 3/12
- Favorable with Amendments Report Adopted
- Special Order 3/13 (Delegate Crumlin) Adopted
- 3/13
- Floor Amendment (Delegate Crumlin) Rejected (37-81)
- Floor Amendment (Delegate Crumlin) Adopted
- Floor Amendment (Delegate Genn) Adopted
- Floor Amendment (Delegate Crumlin) Adopted
- Second Reading Passed with Amendments
- 3/17
- Third Reading Failed (66-66)
Senate Action
- No Action
- Sponsored by:
- Delegate Gerald J. Curran, District 43
- Delegate Patricia Anne Faulkner, District 14A
- Bill indexed under the following Subjects:
- AGENTS AND BROKERS
- BONDS -see also- COUNTY & BALTIMORE CITY BONDS; STATE BONDS.
- COMMITTEES AND COMMISSIONS -see also- POLITICAL COMMITTEES
- CONSUMER PROTECTION -see also- ADVTG.; LABELING; WARRANTIES.
- CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
- CREDIT
- DISCLOSURE
- FEES -see also- DEVELOPMENT FEES AND TAXES
- FIDUCIARIES
- FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO; CREDIT U
- FRAUD
- LICENSES -see also- ALCOHOLIC BEVERAGES LICENSES
- LOANS
- MORTGAGES
- PENALTIES
- PERJURY
- REPORTS -see also- RECORDS
- Bill affects the following Statutes:
- Commercial Law
- (
12-903 ,
12-905 ,
12-905 ,
12-1005
)
- Financial Institutions
- (
11-501 ,
11-502 ,
11-505 ,
11-506 ,
11-506.1 ,
11-507 ,
11-508 ,
11-511 ,
11-512 ,
11-521.1 ,
11-523
)
- Bill Text:
- First Reading (PDF),
Third Reading (PDF), Enrolled
- Fiscal Note:
Available (PDF)
Amendments:
- House
- Number: 012194/1 (PDF) Offered on: MARCH 13, 1997 at: 10:44
Status: Adopted
- Number: 032795/1 (PDF) Offered on: MARCH 13, 1997 at: 10:45
Status: Adopted
- Number: 076553/1 (PDF) Offered on: MARCH 12, 1997 at: 10:14
Status: Adopted
- Number: 482891/1 (PDF) Offered on: MARCH 13, 1997 at: 10:31
Status: Rejected
- Number: 552992/1 (PDF) Offered on: MARCH 13, 1997 at: 10:46
Status: Adopted