File Code: Commercial Law - Credit Regulation
Prior Year Introduction As: HB 885/01 - CGM
- Sponsored By:
-
Senator Conway
- Entitled:
-
Credit Regulation - Mortgage Brokers - Fees
Prohibiting a mortgage broker who accepts a fee from a borrower for
placing a loan from accepting a fee from a loan originator in the same
transaction, if the fee from the loan originator is based on the
interest rate of the loan or the number of points associated with the
loan; and providing that a mortgage broker who accepts a specified fee
from a loan originator is an agent of the loan originator and must
disclose the agency relationship to the borrower.
Senate Action
- 2/14
- First Reading Senate Rules
- 2/20
- Re-referred Finance
- 2/21
- Hearing 3/15 at 1:00 p.m.
House Action
- No Action
- Bill indexed under the following Subjects:
- AGENTS AND BROKERS
- CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
- DISCLOSURE
- FEES -see also- DEVELOPMENT FEES AND TAXES
- LOANS -see also- MORTGAGES
- MORTGAGES
- Bill affects the following Statute:
- Commercial Law
- (
12-804
)
- Bill Text:
First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
None offered
