Bills › 90th General Assembly
Relating to points and fees charged on loans by mortgage bankers
Sponsored by the Senate Commerce Committee
Where it is now
- Done: IntroducedJanuary 17, 2024
- Done: SubcommitteeJanuary 17, 2024
- Done: Senate committeeFebruary 8, 2024
- Done: Passes the SenateMarch 19, 202449–0
- Skipped: House committeeSkipped
- Done: Passes the HouseFebruary 21, 202497–0
- Done: To the GovernorApril 10, 2024
- Done: Signed into lawApril 10, 2024
HF 2266 became law → The same legislation passed as HF 2266, so this version was set aside. Go to HF 2266 What’s a funnel?
What’s in it
AI summary Mortgage bankers currently follow certain rules regarding the points and fees they charge people on loans. This bill changes which specific laws apply to those charges when they stay within federal limits. It affects how lenders manage these fees for borrowers.1
Read the official explanation
This bill relates to points and fees charged on loans by mortgage bankers. Under current law, if a lender that is a mortgage banker makes a loan in which the points and fees the borrower is charged by all lenders in connection with the loan do not exceed the amounts specified in 12 C.F.R. §1026.43(e)(3), the loan shall not be subject to the provisions of Code section 535.8(5). Under the bill, the loan shall also not be subject to Code section 535.8(4)(a).
Senate subcommittee
Named January 17, 2024 (as SSB 3077). On February 1, 2024 it recommended 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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90th General Assembly