Bills › 90th General Assembly
SSB 1186
Topics:Business & economy
Where it is now
- Done: IntroducedFebruary 22, 2023
- Done: SubcommitteeFebruary 22, 2023
- Done: Senate committeeMarch 6, 2023
- Skipped: Passes the SenateContinued as SF 534
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Became SF 534 → Its progress continues under the new number. Go to SF 534 What’s a funnel?
What’s in it
AI summary Mortgage bankers who provide certain loans will no longer have to follow specific rules about interest reduction fees. This change only applies if the total points and fees charged to the borrower stay below a certain limit set by federal law.1
Read the official explanation
This bill relates to specified loans provided by a mortgage banker. A loan made by a licensed or registered mortgage banker under Code chapter 535B making a loan where the points and fees the borrower is charged cumulatively do not exceed the amounts specified in C.F.R. §1026.43(e)(3) shall not be subject to Code section 535.8(5), regarding loans and interest reduction fees.
Senate subcommittee
Named February 22, 2023. On March 1, 2023 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