CHAPTER NUMBER: 761
File Code: Financial Institutions
Crossfiled with: SENATE BILL 105
- Sponsored By:
-
Delegates Opara and Faulkner (Task Force to Examine the Mortgage
Lending Business)
- Entitled:
-
Consumer Credit - Mortgage Lending Business Reforms
Altering the manner in which specified points, fees, commissions, or
charges may be allocated between a mortgage broker and a lender or
credit grantor in specified loan transactions; establishing an
aggregate percentage cap on specified charges; altering the manner and
permissible location, with an exception, in which applications for
specified loan transactions may be accepted; specifying continuing
education requirements for mortgage brokers, lenders, and loan
officers; etc.
House Action
- 1/23
- First Reading Commerce and Government Matters
- 1/28
- Hearing 2/10 at 1:15 p.m.
- 3/17
- Favorable with Amendments Report by Commerce and Government Matters
- 3/18
- Favorable with Amendments
- Committee Amendments (#1, 5-13) Adopted
- Committee Amendments (#2-4) Adopted
- Favorable with Amendments Report Adopted
- Floor Amendment (Opara) Adopted
- Special Order 3/19 (Delegate Gordon) Adopted
- 3/19
- Floor Amendment (Senator Exum)
- Motion vote previous question (Delegate Doory) Adopted
- Floor Amendment (Senator Exum) Rejected (44-85)
- Second Reading Passed with Amendments
- 3/23
- Third Reading Passed (80-44)
- 4/4
- House Concur - Senate Amendments
- Third Reading Passed (106-24)
- Passed Enrolled
- 5/21
- Signed by the Governor Chapter 761
Senate Action
- 3/24
- First Reading Finance
- 3/25
- Hearing 3/31 at 1:00 p.m.
- 4/2
- Favorable with Amendments Report by Finance
- 4/3
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 4/6
- Third Reading Passed with Amendments (45-0)
- Sponsored by:
- Delegate Clay C. Opara, District 41
- Delegate Patricia Anne Faulkner, District 14A
- Mortgage Lending Business, T.F.to Examine the
- Bill indexed under the following Subjects:
- AGENTS AND BROKERS
- BONDS -see also- COUNTY & BALTIMORE CITY BONDS; STATE BONDS.
- CONSUMER PROTECTION -see also- ADVTG.; LABELING; WARRANTIES.
- EDUCATION -see also- PUBLIC SCHOOLS; SPECIAL ED.; HIGHER ED.
- FEES -see also- DEVELOPMENT FEES AND TAXES
- FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO; CREDIT U
- LICENSES -see also- ALC. BEVERAGES LICENSES; DRIVERS' LIC
- LOANS
- MORTGAGES
- PENALTIES
- PUBLIC OFFICIALS -see also- TREASURERS
- REPORTS -see also- RECORDS
- RULES AND REGULATIONS
- SETTLEMENT PROCEDURES
- Bill affects the following Statutes:
- Commercial Law
- (
12-405 ,
12-903 ,
12-1005
)
- Financial Institutions
- (
11-204 ,
11-301 ,
11-505 ,
11-508 ,
11-511 ,
11-511.1 ,
11-523
)
- Real Property
- (
7-109
)
- Bill Text:
First Reading (PDF),
Third Reading (PDF), Enrolled (PDF)
- Fiscal Note:
Available (PDF)
- Amendments:
- House
- Number: 246360/2 (PDF) Offered on: March 18, 1998 at:
10:39 a.m. Status: Incomplete
- Number: 723600/1 (PDF) Offered on: March 19, 1998 at:
11:23 a.m. Status: Rejected
- Number: 793506/1 (PDF) Offered on: March 18, 1998 at:
10:44 a.m. Status: Adopted
- Senate
- Number: 197451/1 (PDF) Offered on: April 3, 1998 at:
11:47 a.m. Status: Adopted
- Roll Call Votes (Legislative dates are shown):
- House
- March 19, 1998: Floor Amendment (Exum) Rejected (44-85)
- March 23, 1998: Third Reading Passed (80-44)
- April 4, 1998: Third Reading Passed (106-24)
- Senate
- April 6, 1998: Third Reading Passed (45-0)
