Legislation - HB1018

Title: Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures
Sponsored by: Delegate Pruski
Status: In the House - Hearing 2/18 at 1:00 p.m.
Analysis

Synopsis

Requiring banking institutions, credit unions, mortgage lenders, mortgage lending businesses, and mortgage loan originators to include a certain provision in certain conventional home mortgage loans authorizing a certain borrower to purchase the property interest of a certain borrower in connection with a decree of absolute divorce if the lending entity determines that the assuming borrower qualifies for the loan; applying certain provisions of the Act retroactively; etc.

Committees

Original:: Economic Matters

Details

Cross-filed with: SB0689

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber House Calendar Date 2/03/2025 Legislative Date 2/03/2025 Action First Reading Economic Matters Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures Proceedings
Chamber House Calendar Date 2/04/2025 Legislative Date 2/04/2025 Action Hearing 2/18 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	2/03/2025	2/03/2025	First Reading Economic Matters
			Text - First - Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures
House	2/04/2025	2/04/2025	Hearing 2/18 at 1:00 p.m.

File Code

Subjects

Statutes