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2016 SESSION
HB 123 Real estate loans; disclosure of terms of mortgage application.
Introduced by: Daniel W. Marshall, III | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Mortgage loan applications. Deletes the requirement that a residential mortgage lender's or broker's disclosure statement state that all the loan terms not legally locked in are subject to change until settlement and qualifies the requirement to describe when the interest, points, and fees will be locked in to those loans for which such terms will be locked in. The measure will conform disclosure statement requirements to a federal rule that, effective October 3, 2015, requires that closing disclosures that reflect the actual loan terms be provided to the consumer no later than three business days before consummation of the loan.
FULL TEXT
- 12/16/15 House: Prefiled and ordered printed; offered 01/13/16 16101534D pdf | impact statement
- 02/29/16 House: Bill text as passed House and Senate (HB123ER) pdf | impact statement
- 03/11/16 Governor: Acts of Assembly Chapter text (CHAP0328) pdf
HISTORY
- 12/16/15 House: Prefiled and ordered printed; offered 01/13/16 16101534D
- 12/16/15 House: Referred to Committee on Commerce and Labor
- 01/19/16 House: Reported from Commerce and Labor (21-Y 0-N)
- 01/21/16 House: Read first time
- 01/25/16 House: Read second time and engrossed
- 01/26/16 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 01/26/16 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 01/27/16 Senate: Constitutional reading dispensed
- 01/27/16 Senate: Referred to Committee on Commerce and Labor
- 02/22/16 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/24/16 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/25/16 Senate: Read third time
- 02/25/16 Senate: Passed Senate (40-Y 0-N)
- 02/29/16 House: Enrolled
- 02/29/16 House: Bill text as passed House and Senate (HB123ER)
- 02/29/16 House: Signed by Speaker
- 03/03/16 Senate: Signed by President
- 03/04/16 House: Enrolled Bill communicated to Governor on 3/4/16
- 03/04/16 Governor: Governor's Action Deadline Midnight, March 11, 2016
- 03/11/16 Governor: Approved by Governor-Chapter 328 (effective 7/1/16)
- 03/11/16 Governor: Acts of Assembly Chapter text (CHAP0328)