HOUSE BILL 1254

Sponsored By:

Delegates Vaughn and Miller

Entitled:

Credit Regulation - Mortgage Brokers - Charges

Synopsis:

Authorizing mortgage brokers to charge borrowers for the actual cost of specified documents obtained by a mortgage broker at the written request of the borrower; authorizing mortgage brokers to charge borrowers for the actual cost of specified other goods or services that are required to complete a loan application process and that, at the written request of a borrower, are paid by a mortgage broker to a specified third-party provider; and defining terms.

History by Legislative and Calendar Date

House Action

2/18

First Reading Economic Matters

Hearing 3/11 at 1:00 p.m.

3/27

Favorable with Amendments Report by Economic Matters

3/24

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/25

Third Reading Passed (138-0)

3/31

Returned Passed

Senate Action

3/27

First Reading Finance

3/30

Hearing 4/1 at 1:00 p.m.

4/5

Favorable Report by Finance

4/1

Favorable Report Adopted

Second Reading Passed

4/2

Third Reading Passed (47-0)

Action after passage in House and Senate

4/13

Approved by the Governor

- Chapter 112

Sponsored by:

Delegate Michael L. Vaughn, District 24

Delegate Warren E. Miller, District 9A

Bill indexed under the following Subjects:

Agents and Brokers

Fees -see also- Attys` Fees; Devt Fees & Taxes; Reimb Rates.

Mortgages

Bill affects the following Statutes:

Commercial Law

( 12-801 , 12-804 )

Documents

Bill Text: First Reading, Third Reading, Enrolled, Chapter

Fiscal and Policy Note: Available

Amendments:

House

Number: 693992/01     Offered on: March 27, 2010   at: 12:09 p.m.     Status: Adopted

Committee Votes :

House

Economic Matters

Senate

Finance

Roll Call Votes (Legislative dates are shown):

House

March 25, 2010: Third Reading Passed (138-0)

Senate

April 2, 2010: Third Reading Passed (47-0)

April 2, 2010: Third Reading Passed (47-0)