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2009 SESSION

• | print version

HB 1776 Mortgage Lender and Broker Act; broker duties and liability. 

Introduced by: Jennifer L. McClellan | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Mortgage Lender and Broker Act; broker duties and liability. Prohibits a mortgage broker from failing to use reasonable skill, care, and diligence in exercising the broker's duty, which is created hereby, to make reasonable efforts to secure a mortgage loan that is in the best interests of the applicant, considering the applicant's circumstances and loan characteristics. A borrower who suffers a loss as a result of a breach of such duty may bring an action to recover actual damages. SB 1020 is identical.

FULL TEXT

• 01/08/09  House: Prefiled and ordered printed; offered 01/14/09 090024624  pdf | impact statement
• 02/06/09  House: Committee substitute printed 090316624-H1  pdf | impact statement
• 02/24/09  House: Bill text as passed House and Senate (HB1776ER)  pdf | impact statement
• 03/27/09  Governor: Acts of Assembly Chapter text (CHAP0189)  pdf

HISTORY

• 01/08/09  House: Prefiled and ordered printed; offered 01/14/09 090024624
• 01/08/09  House: Referred to Committee for Courts of Justice
• 01/16/09  House: Assigned Courts sub: Civil
• 02/04/09  House: Subcommittee recommends reporting with amendment(s)
• 02/06/09  House: Reported from Courts of Justice with substitute (18-Y 4-N)
• 02/06/09  House: Committee substitute printed 090316624-H1
• 02/08/09  House: Read first time
• 02/09/09  House: Read second time
• 02/09/09  House: Committee substitute agreed to 090316624-H1
• 02/09/09  House: Engrossed by House - committee substitute HB1776H1
• 02/10/09  House: Read third time and passed House (82-Y 16-N)
• 02/10/09  House: VOTE: --- PASSAGE (82-Y 16-N)
• 02/11/09  Senate: Constitutional reading dispensed
• 02/11/09  Senate: Referred to Committee on Commerce and Labor
• 02/16/09  Senate: Reported from Commerce and Labor (15-Y 0-N)
• 02/18/09  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/19/09  Senate: Read third time
• 02/19/09  Senate: Passed Senate (40-Y 0-N)
• 02/24/09  House: Enrolled
• 02/24/09  House: Bill text as passed House and Senate (HB1776ER)
• 02/25/09  House: Signed by Speaker
• 02/27/09  Senate: Signed by President
• 03/27/09  Governor: Approved by Governor-Chapter 189 (effective 7/1/09)
• 03/27/09  Governor: Acts of Assembly Chapter text (CHAP0189)