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2007 SESSION

• | print version

SB 145 Mortgage loan servicing practices; prohibits certain actions, penalty.

Introduced by: R. Creigh Deeds | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Mortgage loan servicing practices; penalties.  Prohibits persons that service mortgage loans from taking certain actions with respect to mortgage loans, including failing to apply promptly to the loan payments made in accordance with the terms of the loan agreement and taking actions for the primary purpose of creating a default under the terms of a mortgage loan. A violation constitutes a Class 1 misdemeanor. The State Corporation Commission is authorized to conduct investigations. The measure does not apply to banks or savings institutions or their subsidiaries or affiliates.

FULL TEXT

• 01/10/06  Senate: Prefiled and ordered printed; offered 01/11/06 064375724  pdf | impact statement
• 02/13/06  Senate: Committee substitute printed 062766724-S1  pdf
• 02/14/06  Senate: Floor substitute printed 062767724-S2 (Deeds)  pdf | impact statement

HISTORY

• 01/10/06  Senate: Prefiled and ordered printed; offered 01/11/06 064375724
• 01/10/06  Senate: Referred to Committee on Commerce and Labor
• 02/13/06  Senate: Reported from Commerce and Labor with substitute (15-Y 0-N)
• 02/13/06  Senate: Committee substitute printed 062766724-S1
• 02/14/06  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/14/06  Senate: VOTE: (40-Y 0-N)
• 02/14/06  Senate: Read second time
• 02/14/06  Senate: Reading of substitute waived
• 02/14/06  Senate: Committee substitute rejected 062766724-S1
• 02/14/06  Senate: Floor substitute printed 062767724-S2 (Deeds)
• 02/14/06  Senate: Reading of substitute waived
• 02/14/06  Senate: Substitute by Senator Deeds agreed to 062767724-S2
• 02/14/06  Senate: Engrossed by Senate - floor substitute SB145S2
• 02/14/06  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/14/06  Senate: VOTE: (40-Y 0-N)
• 02/14/06  Senate: Passed Senate (40-Y 0-N)
• 02/14/06  Senate: VOTE: (40-Y 0-N)
• 02/14/06  Senate: Communicated to House
• 02/15/06  House: Placed on Calendar
• 02/15/06  House: Read first time
• 02/15/06  House: Referred to Committee on Commerce and Labor
• 03/06/06  House: Continued to 2007 in Commerce and Labor by voice vote
• 12/08/06  House: Left in Commerce and Labor