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- Subject Index: Since 1995
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2009 SESSION
SB 1020 Mortgage Lender and Broker Act; broker duties and liability.
Introduced by: A. Donald McEachin | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (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. HB 1776 is identical.
FULL TEXT
- 01/13/09 Senate: Prefiled and ordered printed; offered 01/14/09 090045273 pdf | impact statement
- 02/03/09 Senate: Committee substitute printed 090314273-S1 pdf | impact statement
- 03/04/09 Senate: Bill text as passed Senate and House (SB1020ER) pdf | impact statement
- 03/27/09 Governor: Acts of Assembly Chapter text (CHAP0261) pdf
HISTORY
- 01/13/09 Senate: Prefiled and ordered printed; offered 01/14/09 090045273
- 01/13/09 Senate: Referred to Committee on Commerce and Labor
- 02/02/09 Senate: Reported from Commerce and Labor with substitute (14-Y 0-N)
- 02/03/09 Senate: Committee substitute printed 090314273-S1
- 02/04/09 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/05/09 Senate: Read second time
- 02/05/09 Senate: Reading of substitute waived
- 02/05/09 Senate: Committee substitute agreed to 090314273-S1
- 02/05/09 Senate: Engrossed by Senate - committee substitute SB1020S1
- 02/06/09 Senate: Passed by for the day
- 02/09/09 Senate: Read third time and passed Senate (40-Y 0-N)
- 02/13/09 House: Placed on Calendar
- 02/13/09 House: Read first time
- 02/13/09 House: Referred to Committee for Courts of Justice
- 02/18/09 House: Assigned Courts sub: Civil
- 02/18/09 House: Subcommittee recommends reporting
- 02/23/09 House: Reported from Courts of Justice (18-Y 3-N)
- 02/24/09 House: Read second time
- 02/25/09 House: Read third time
- 02/25/09 House: Passed House (89-Y 8-N)
- 02/25/09 House: VOTE: --- PASSAGE (89-Y 8-N)
- 03/04/09 Senate: Enrolled
- 03/04/09 Senate: Bill text as passed Senate and House (SB1020ER)
- 03/05/09 Senate: Signed by President
- 03/06/09 House: Signed by Speaker
- 03/27/09 Governor: Approved by Governor-Chapter 261 (effective 7/1/09)
- 03/27/09 Governor: Acts of Assembly Chapter text (CHAP0261)