Bills › 89th General Assembly
Where it is now
- Done: IntroducedMarch 1, 2021
- Done: SubcommitteeMarch 1, 2021
- Done: Senate committeeMarch 4, 2021
- Skipped: Passes the SenateContinued as SF 567
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Became SF 567 → Its progress continues under the new number. Go to SF 567 What’s a funnel?
What’s in it
This bill relates to loans originated by mortgage bankers. The bill provides that if a lender that is a financial institution or a mortgage banker licensed pursuant to Code chapter 535B makes a loan in which the points and fees the borrower is charged in connection with the loan do not exceed the amounts specified in C.F.R. §1026.43(e)(3), the loan shall not be subject to the provisions of Code section 535.8, subsection 4, paragraphs “a”, “b”, and “d” (providing for additional fees and the right to recover unlawful fees), or subsection (authorizing the lender to offer to make a loan on all of the same terms except at a lower interest rate in exchange for the payment of an interest reduction fee).
Senate subcommittee
Named March 1, 2021. On March 3, 2021 it recommended amendment and passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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89th General Assembly