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2008 SESSION
SB 797 Mortgage lenders or servicers; notice and additional time before foreclosure on high-risk loans.
Introduced by: Phillip P. Puckett | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
High-risk mortgage lenders or servicers; 10 days' notice; 30 days' forbearance. Requires high-risk mortgage lenders or servicers to provide written notice of the intention to send a notice to accelerate the loan balance 10 business days prior to sending the notice of acceleration. If the borrower indicates the desire to avoid foreclosure, the high-risk mortgage lender or servicer shall give the borrower 30 calendar days' forbearance. The measure does not apply if the lender makes fewer than four mortgage loans in any 12-month period, if there is an active bankruptcy proceeding, or if a foreclosure sale is scheduled to occur within 30 days.
FULL TEXT
- 02/25/08 Senate: Presented and ordered printed 089206802 pdf | impact statement
- 02/26/08 Senate: Introduced bill reprinted 089206802 pdf | impact statement
- 03/06/08 House: Committee substitute printed 089632744-H1 pdf
- 03/24/08 Senate: Bill text as passed Senate and House (SB797ER) pdf
- 04/23/08 Senate: Reenrolled bill text (SB797ER2) pdf
- 04/23/08 Governor: Acts of Assembly Chapter text (CHAP0878) pdf
AMENDMENTS
HISTORY
- 02/25/08 Senate: Introduced at the request of Governor
- 02/25/08 Senate: Presented and ordered printed 089206802
- 02/25/08 Senate: Referred to Committee on Commerce and Labor
- 02/26/08 Senate: Introduced bill reprinted 089206802
- 02/27/08 Senate: Reported from Commerce and Labor (9-Y 5-N 1-A)
- 02/29/08 Senate: Passed by for the day
- 03/03/08 Senate: Read first time
- 03/03/08 Senate: Constitutional reading dispensed (40-Y 0-N)
- 03/03/08 Senate: Engrossed by Senate
- 03/03/08 Senate: Constitutional reading dispensed (40-Y 0-N)
- 03/03/08 Senate: Passed Senate (40-Y 0-N)
- 03/04/08 House: Placed on Calendar
- 03/04/08 House: Read first time
- 03/04/08 House: Referred to Committee on Commerce and Labor
- 03/06/08 House: Reported from Commerce and Labor with substitute (19-Y 3-N)
- 03/06/08 House: Committee substitute printed 089632744-H1
- 03/07/08 House: Read third time
- 03/07/08 House: Committee substitute agreed to 089632744-H1
- 03/07/08 House: Engrossed by House - committee substitute SB797H1
- 03/07/08 House: Passed House with substitute (90-Y 4-N)
- 03/07/08 House: VOTE: --- PASSAGE (90-Y 4-N)
- 03/08/08 Senate: House substitute agreed to by Senate (40-Y 0-N)
- 03/24/08 Senate: Enrolled
- 03/24/08 Senate: Bill text as passed Senate and House (SB797ER)
- 03/24/08 House: Signed by Speaker
- 03/26/08 Senate: Signed by President
- 04/11/08 Senate: Governor's recommendation received by Senate
- 04/22/08 Senate: Placed on Calendar
- 04/23/08 Senate: Senate concurred in Governor's recommendation (39-Y 0-N)
- 04/23/08 House: House concurred in Governor's recommendation (97-Y 1-N)
- 04/23/08 House: VOTE: --- ADOPTION (97-Y 1-N)
- 04/23/08 Governor: Governor's recommendation adopted
- 04/23/08 Senate: Reenrolled
- 04/23/08 Senate: Reenrolled bill text (SB797ER2)
- 04/23/08 Senate: Signed by President as reenrolled
- 04/23/08 House: Signed by Speaker as reenrolled
- 04/23/08 Governor: Approved by Governor-Chapter 878 (effective 7/1/08)
- 04/23/08 Governor: Acts of Assembly Chapter text (CHAP0878)