2009 Regular Session

HOUSE BILL 1535

CHAPTER NUMBER: 115
EMERGENCY BILL File Code: Commercial Law - Credit Regulation Crossfiled with: SENATE BILL 1036
Sponsored By:
Delegate Rudolph
Entitled:
Credit Regulation - Mortgage Loans - Proof of Ability to Repay - Exception

Synopsis:

For specified mortgage loans that refinance an existing mortgage loan, establishing exceptions to the requirement that the due regard lenders and credit grantors must give to a borrower's ability to repay specified mortgage loans includes consideration of the borrower's debt to income ratio and verification in a specified manner of income and assets of the borrower; and making the Act an emergency measure.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
House Action
3/9
First Reading House Rules and Executive Nominations
3/16
Re-referred Economic Matters
Hearing 3/25 at 1:00 p.m.
3/27
Favorable with Amendments Report by Economic Matters
3/24
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/25
Third Reading Passed (133-1)
4/5
Returned Passed
Senate Action
3/28
First Reading Finance
3/31
Hearing 4/2 at 1:00 p.m.
4/7
Favorable Report by Finance
4/5
Favorable Report Adopted
Second Reading Passed
4/6
Third Reading Passed (47-0)
Action after passage in House and Senate
4/14
Approved by the Governor
- Chapter 115

Bill indexed under the following Subjects:

Federal Government
Housing and Community Development, Department of
Mortgages

Bill affects the following Statutes:

Commercial Law
( 12-127 , 12-127 , 12-311 , 12-311 , 12-409.1 , 12-409.1 , 12-925 , 12-925 , 12-1029 , 12-1029 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled, Chapter
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments (Displayed in PDF Format):
House
Number: 723198/01     Offered on: March 27, 2009   at: 6:54 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 25, 2009: Third Reading Passed (133-1)
Senate
April 6, 2009: Third Reading Passed (47-0)