Legislation

Title: Maryland Mortgage Lender Law - Considerations of a Mortgage Servicer - Borrower's Ability to Repay
Sponsored by: Senator Rosapepe
Status: In the Senate - Hearing 3/10 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Prohibiting a mortgage servicer from making or modifying certain mortgage loans without giving due regard to the borrower's ability to repay the loans; requiring that due regard to a borrower's ability to repay include consideration of a debt-to-income ratio and verification of certain income and assets through the review of certain written documentation; and exempting certain mortgage loans from the Act.

Committees

Original:: Finance Click to view Recorded Media

Committee Testimony

Witness List

Details

Bill File Type: Regular

Effective Date(s): October 1, 2020

History

Legislation History
Chamber Senate Calendar Date 2/03/2020 Legislative Date 2/03/2020 Action First Reading Finance Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Maryland Mortgage Lender Law - Considerations of a Mortgage Servicer - Borrower's Ability to Repay Proceedings
Chamber Senate Calendar Date 2/07/2020 Legislative Date 2/07/2020 Action Hearing 3/10 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/03/2020	2/03/2020	First Reading Finance
			Text - First - Maryland Mortgage Lender Law - Considerations of a Mortgage Servicer - Borrower's Ability to Repay
Senate	2/07/2020	2/07/2020	Hearing 3/10 at 1:00 p.m.

File Code

Subjects

Statutes