SENATE BILL 574

File Code: Commercial Law - Credit Regulation

Sponsored By:

Senator Hughes

Entitled:

Commercial Law - Credit Regulation - Home Mortgage Loans

Synopsis:

Prohibiting specified home loan lenders from financing specified credit insurance policies under specified circumstances; prohibiting specified home loan lenders from charging specified fees under specified circumstances; prohibiting specified home loan lenders from making high-cost home loans under specified circumstances; prohibiting specified home loan lenders from paying specified home improvement contractors from loan proceeds under specified circumstances; etc.

History by Legislative Date

Senate Action

1/31

First Reading Finance

2/4

Hearing 2/18 at 1:00 p.m.

2/24

Unfavorable Report by Finance

House Action

No Action

Bill indexed under the following Subjects:

CIVIL ACTIONS -see also- SMALL CLAIMS

CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES

CONTRACTORS -see also- HEATING & COOLING; HOME IMPROVEMENT

COUNSELORS -see also- SOCIAL WORKERS

CREDIT

DAMAGES

FEES -see also- DEVELOPMENT FEES AND TAXES

HOME IMPROVEMENT

INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS

INTEREST

LOANS -see also- MORTGAGES

MORTGAGES

NOTICES

UNFAIR TRADE PRACTICES

Bill affects the following Statutes:

Commercial Law

( 12-124.1 , 12-127 , 12-311 , 12-312 , 12-409.1 , 12-410 , 12-1007 , 12-1029 , 12-1201 , 12-1202 , 12-1203 , 12-1204 , 12-1205 , 12-1206 , 12-1207 , 12-1208 , 13-301 )

Financial Institutions

( 1-209 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered