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2007 SESSION

• | print version

SB 989 Mortgage loans; prohibits servicers thereof from taking certain actions pertaining to servicing.

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

SUMMARY AS INTRODUCED:

Mortgage loan servicing; penalties.  Prohibits servicers of mortgage loans from taking certain actions pertaining to the servicing of such loans, including failing to apply payments to the loan and taking actions for the primary purpose of creating a default under the terms of a mortgage loan. The Bureau of Financial Institutions of the State Corporation Commission is given authority to investigate and enforce the provisions under the Mortgage Lender and Broker Act; although mortgage servicers are not required to obtain licenses under that Act.

FULL TEXT

• 01/09/07  Senate: Prefiled and ordered printed; offered 01/10/07 070140724  pdf | impact statement

HISTORY

• 01/09/07  Senate: Prefiled and ordered printed; offered 01/10/07 070140724
• 01/09/07  Senate: Referred to Committee on Commerce and Labor
• 02/06/07  Senate: Left in Commerce and Labor