2007 Regular Session

HOUSE BILL 925

File Code: Commercial Law - Credit Regulation
Sponsored By:
Delegate Simmons
Entitled:
Credit Regulation - Mortgage Brokers - Required Disclosures

Synopsis:

Requiring a mortgage broker, before undertaking to assist a borrower in obtaining a loan or advance of money, to provide the borrower with a specified disclosure form; specifying the contents of the disclosure form; requiring the disclosure form to be signed and dated by the borrower and the mortgage broker; requiring the mortgage broker to attach the disclosure form to the borrower's application and maintain the form in its records relating to the borrower's loan; establishing a specified penalty; etc.

History by Legislative and Calendar Date

House Action
2/9
First Reading Economic Matters
2/21
Hearing 3/6 at 1:00 p.m.
Senate Action
No Action

Bill indexed under the following Subjects:

Consumer Protection -see also- Unfair Trade Practices
Disclosure
Fees -see also- Devt Fees and Taxes; Reimbursement Rates
Interest
Mortgages
Penalties
Records -see also- Land Records; Vital Records

Bill affects the following Statutes:

Commercial Law
( 12-801 , 12-805 , 12-805.1 , 12-807 )
Financial Institutions
( 11-501 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments: None offered