HOUSE BILL 363

Sponsored By:

The Speaker (By Request - Administration) and Delegates Aumann, Barkley, Barnes, Barve, Benson, Bobo, Bohanan, Braveboy, Bronrott, Burns, G. Clagett, V. Clagett, Conway, Doory, Eckardt, Frick, Gaines, Griffith, Gutierrez, Guzzone, Haddaway, Healey, Hecht, Heller, Holmes, Howard, Hucker, Ivey, James, Jones, Kaiser, Krysiak, Lafferty, Lee, Levi, Levy, Love, Manno, Mathias, McIntosh, Montgomery, Morhaim, Nathan-Pulliam, Niemann, Pena-Melnyk, Ramirez, Riley, Ross, Rudolph, Shewell, Sophocleus, Stein, Stukes, Tarrant, F. Turner, V. Turner, Vaughn, Waldstreicher, Walker, and Carr

Entitled:

Credit Regulation - Mortgage Lending and Other Extensions of Credit

Synopsis:

Prohibiting a lender from requiring or authorizing the imposition of prepayment charges in connection with specified mortgage loans; prohibiting lenders and credit grantors from making specified mortgage loans without giving due regard to the borrower's ability to repay the loans; repealing provisions of law that establish a presumption about a borrower's ability to repay a loan; requiring a specified representation by a mortgage broker to be contained in a finder's fee agreement; providing for the effective dates of the Act; etc.

History by Legislative and Calendar Date

House Action

1/25

First Reading Economic Matters

1/30

Hearing 2/21 at 1:00 p.m.

3/17

Favorable with Amendments Report by Economic Matters

3/15

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/16

Third Reading Passed (127-7)

3/31

House Concur - Senate Amendments

Third Reading Passed (136-0)

Passed Enrolled

Senate Action

3/20

First Reading Finance

3/21

Hearing 3/25 at 1:00 p.m.

3/31

Favorable with Amendments Report by Finance

3/28

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/29

Third Reading Passed with Amendments (47-0)

Action after passage in House and Senate

4/8

Approved by the Governor

- Chapter 8

Sponsored by:

Speaker, The

Administration

Delegate Susan L. M. Aumann, District 42

Delegate Charles Barkley, District 39

Delegate Ben Barnes, District 21

Delegate Kumar P. Barve, District 17

Delegate Joanne C. Benson, District 24

Delegate Elizabeth Bobo, District 12B

Delegate John L. Bohanan, Jr., District 29B

Delegate Aisha N. Braveboy, District 25

Delegate William A. Bronrott, District 16

Delegate Emmett C. Burns, Jr., District 10

Delegate Alfred C. Carr, Jr., District 18

Delegate Virginia P. Clagett, District 30

Delegate Galen R. Clagett, District 3A

Delegate Norman H. Conway, District 38B

Delegate Ann Marie Doory, District 43

Delegate Adelaide C. Eckardt, District 37B

Delegate C. William Frick, District 16

Delegate Tawanna P. Gaines, District 22

Delegate Melony G. Griffith, District 25

Delegate Ana Sol Gutierrez, District 18

Delegate Guy Guzzone, District 13

Delegate Jeannie Haddaway, District 37B

Delegate Anne Healey, District 22

Delegate Sue Hecht, District 3A

Delegate Henry B. Heller, District 19

Delegate Marvin E. Holmes, Jr., District 23B

Delegate Carolyn J. B. Howard, District 24

Delegate Tom Hucker, District 20

Delegate Jolene Ivey, District 47

Delegate Mary-Dulany James, District 34A

Delegate Adrienne A. Jones, District 10

Delegate Anne R. Kaiser, District 14

Delegate Carolyn J. Krysiak, District 46

Delegate Stephen W. Lafferty, District 42

Delegate Susan C. Lee, District 16

Delegate Gerron S. Levi, District 23A

Delegate Murray D. Levy, District 28

Delegate Mary Ann E. Love, District 32

Delegate Roger P. Manno, District 19

Delegate James N. Mathias, Jr., District 38B

Delegate Maggie McIntosh, District 43

Delegate Karen S. Montgomery, District 14

Delegate Dan K. Morhaim, District 11

Delegate Shirley Nathan-Pulliam, District 10

Delegate Doyle L. Niemann, District 47

Delegate Joseline A. Pena-Melnyk, District 21

Delegate Victor R. Ramirez, District 47

Delegate B. Daniel Riley, District 34A

Delegate Justin D. Ross, District 22

Delegate David D. Rudolph, District 34B

Delegate Tanya T. Shewell, District 5A

Delegate Theodore Sophocleus, District 32

Delegate Dana Stein, District 11

Delegate Melvin L. Stukes, District 44

Delegate Shawn Z. Tarrant, District 40

Delegate Frank S. Turner, District 13

Delegate Veronica Turner, District 26

Delegate Michael L. Vaughn, District 24

Delegate Jeff Waldstreicher, District 18

Delegate Jay Walker, District 26

Bill indexed under the following Subjects:

Agents and Brokers

Bonds -see also- County & Baltimore City Bonds; State Bonds.

Consumer Protection -see also- Unfair Trade Practices

Contracts -see also- Land Installment Contracts; Procurement

Credit

Disclosure

Examinations

Fees -see also- Devt Fees and Taxes; Reimbursement Rates

Financial Regulation, Division of

Interstate Affairs

Investigations and Inquiries -see also- Crim Bckgrnd Invest.

Licenses -see also- Alcoholic Bev Lic; Drivers` Licenses

Loans -see also- Mortgages

Mortgages

Penalties

Public Information

Reports

Rules and Regulations

Bill affects the following Statutes:

Commercial Law

( 12-105 , 12-105 , 12-105 , 12-105 , 12-105 , 12-105 , 12-127 , 12-311 , 12-409.1 , 12-805 , 12-925 , 12-1029 )

Financial Institutions

( 2-105.1 , 11-503.1 , 11-506 , 11-507 , 11-507 , 11-508 , 11-508.1 , 11-508.1 , 11-511 , 11-515 , 11-515 , 11-603 , 11-605 , 11-606 , 11-609 , 11-612.1 , 11-613 , 11-615 , 11-615 )

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: 913894/01     Offered on: March 18, 2008   at: 10:41 a.m.     Status: Adopted

Senate

Number: 937278/01     Offered on: April 1, 2008   at: 12:57 p.m.     Status: Adopted

Roll Call Votes (Legislative dates are shown):

House

March 16, 2008: Third Reading Passed (127-7)

March 31, 2008: Third Reading Passed (136-0)

Senate

March 29, 2008: Third Reading Passed (47-0)