Introduced
by
To make minor revisions to notices and disclosures and disclosures required by mortgage lenders under a 2002 <a href="http://www.michiganvotes.org/2002-HB-6121">law</a> regulating "high-cost" home loans (subprime loans). The bill is part of a subprime home loan regulation package comprised of House Bills 5287 to 5310 (HB 5295 in particular).
Referred to the Committee on Banking and Financial Services
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Amendment offered
by
To tie-bar the bill to a package of Republican bills limiting the imposition of some special assessments, increasing penalties for mortgage fraud, and repealing the .75 percent real estate transfer tax (House Bills 4264, 4409 - 4411, 5642-5647, 6128 and 6129). "Tie-bar" means this bill cannot become law unless those ones do also.
The amendment failed by voice vote
Passed in the House 106 to 2 (details)
Referred to the Committee on Banking and Financial Institutions
