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Legislation


2004 Regular Session

HOUSE BILL 1481

File Code: Commercial Law - Credit Regulation
Sponsored By:
Delegates Vaughn, Anderson, Benson, Carter, Gaines, Healey, Kirk, Nathan-Pulliam, Oaks, Paige, Patterson, Rosenberg, and Taylor
Entitled:
Mortgage Lending - Prohibited Practices

Synopsis:

Prohibiting the making of specified home loans with rates in excess of specified percentages; prohibiting steering in connection with specified home loans; prohibiting the financing of specified insurance and payments for cancellations in home loans; prohibiting a mortgage broker or affiliate from receiving specified payments except in a specified manner; establishing duties for mortgage brokers; establishing presumptions regarding fraud in connection with appraisals in connection with specified home loans; etc.

History by Legislative Date

House Action
3/1
First Reading House Rules and Executive Nominations
Senate Action
No Action
Sponsored by:
Delegate Michael L. Vaughn, District 24
Delegate Curt Anderson, District 43
Delegate Joanne C. Benson, District 24
Delegate Jill P. Carter, District 41
Delegate Tawanna P. Gaines, District 22
Delegate Anne Healey, District 22
Delegate Ruth M. Kirk, District 44
Delegate Shirley Nathan-Pulliam, District 10
Delegate Nathaniel T. Oaks, District 41
Delegate Jeffrey A. Paige, District 44
Delegate Obie Patterson, District 26
Delegate Samuel I. Rosenberg, District 41
Delegate Herman L. Taylor, Jr., District 14
Bill indexed under the following Subjects:
AGENTS AND BROKERS
APPRAISALS
CIVIL ACTIONS -see also- SMALL CLAIMS
CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
COURTS -see also- CIRCUIT; APPEALS; DISTRICT; ORPHANS'; etc.
CRIMES AND PUNISHMENTS -see also- PENALTIES; SENTENCES; etc.
FEES -see also- DEVELOPMENT FEES AND TAXES
FORECLOSURE
FRAUD -see also- FORGERY
HOUSING -see also- APARTMENTS; CONDOMINIUMS; MOBILE HOMES
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
INTEREST
LIABILITY -see also- GOOD SAMARITAN
LOANS -see also- MORTGAGES
MORTGAGES
NOTICES
PENALTIES
REAL ESTATE -see also- AGENTS AND BROKERS
UNFAIR TRADE PRACTICES
Bill affects the following Statutes:
Commercial Law
( 12-124.1 , 12-124.1 , 12-127 , 12-311 , 12-312 , 12-409.1 , 12-410 , 12-1007 , 12-1029 , 13-301 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Not available at this time
Amendments: None offered
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