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Original
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Opposite
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Review in
Original Chamber
Passed Both
Chambers
Conf. Cmte
(if necessary)
To Governor
Title
Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures
Sponsored by
Senator Gile
Status
In the Senate - First Reading Finance
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:
Finance
Details
Bill File Type: Regular
Effective Date(s): October 1, 2025
Legislation History
Chamber
Senate
Calendar Date
1/26/2025
Legislative Date
1/26/2025
Action
First Reading Finance
Proceedings
Chamber Calendar Date Legislative Date Action Proceedings
Senate 1/26/2025 1/26/2025 First Reading Finance
Subjects
(   11-501,   11-522, 11-601,   11-605.1, 5-514, 6-606,   6-606.1 )
Last Updated: 1/30/2025 12:13 AM
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