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2001 SESSION

• | print version

HB 2708 Mortgage loans; prohibits "flipping".

Introduced by: Whittington W. Clement | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Mortgage loans; prohibited practices. Prohibits mortgage lenders and brokers from flipping mortgage loans. "Flipping" a mortgage loan means refinancing a mortgage loan within 12 months after the refinanced loan was originated, when the new loan does not result in any benefit to the borrower considering all of the circumstances. The Attorney General's office is authorized to enforce the prohibition.

FULL TEXT

• 01/17/01  House: Presented & ordered printed 010216672  pdf | impact statement
• 02/01/01  House: Committee substitute printed 010244672-H1  pdf | impact statement
• 02/19/01  Senate: Committee substitute printed 010257672-S1  pdf | impact statement
• 02/27/01  House: Bill text as passed House and Senate (HB2708ER)  pdf | impact statement
• 03/27/01  Governor: Acts of Assembly Chapter text (CHAP0510)  pdf

HISTORY

• 01/17/01  House: Presented & ordered printed 010216672
• 01/17/01  House: Referred to Committee on Corporations, Insurance and Banking
• 02/01/01  House: Reported from C. I. B. w/sub (25-Y 0-N)
• 02/01/01  House: Committee substitute printed 010244672-H1
• 02/02/01  House: Read first time
• 02/03/01  House: Read second time
• 02/03/01  House: Committee substitute agreed to 010244672-H1
• 02/03/01  House: Engrossed by House - committee substitute 010244672-H1
• 02/03/01  House: Constitutional reading dispensed (97-Y 1-N)
• 02/03/01  House: Passed House (98-Y 0-N)
• 02/03/01  House: Communicated to Senate
• 02/07/01  Senate: Constitutional reading dispensed
• 02/07/01  Senate: Referred to Committee on Commerce and Labor
• 02/13/01  Senate: Assigned to C. & L. sub-committee: 2
• 02/19/01  Senate: Committee substitute printed 010257672-S1
• 02/19/01  Senate: Reported from C. & L. with substitute (15-Y 0-N)
• 02/20/01  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/20/01  Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
• 02/20/01  Senate: Read third time
• 02/20/01  Senate: Reading of substitute waived
• 02/20/01  Senate: Committee substitute agreed to 010257672-S1
• 02/20/01  Senate: Engrossed by Senate - committee substitute 010257672-S1
• 02/20/01  Senate: Passed Senate with substitute (40-Y 0-N)
• 02/20/01  Senate: VOTE: PASSAGE R (40-Y 0-N)
• 02/20/01  Senate: Rec. of Sen. passage agreed to by Senate (40-Y 0-N)
• 02/20/01  Senate: VOTE: RECONSIDER R (40-Y 0-N)
• 02/20/01  Senate: Passed Senate with substitute (40-Y 0-N)
• 02/20/01  Senate: VOTE: PASSAGE R (40-Y 0-N)
• 02/21/01  House: Placed on Calendar
• 02/22/01  House: Senate substitute agreed to by House (98-Y 1-N)
• 02/22/01  House: VOTE: ADOPTION (98-Y 1-N)
• 02/27/01  House: Bill text as passed House and Senate (HB2708ER)
• 03/02/01  House: Enrolled
• 03/02/01  House: Signed by Speaker
• 03/02/01  Senate: Signed by President
• 03/22/01  Governor: Approved by Governor-Chapter 510 (effective 7/1/01)
• 03/27/01  Governor: Acts of Assembly Chapter text (CHAP0510)