Bill Status of SB0776 100th General Assembly
Short Description: PREDATORY LENDING DATABASE
Sen. Chris Nybo
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Predatory Lending Database Article of the Residential Real Property Disclosure Act. Changes the definition of "counseling" and "originator". Provides that each certificate of compliance with the Article or certificate of exemption must contain, at a minimum, one of the borrower's names on the mortgage loan and the property index number for the subject property. Makes changes concerning the information which must be collected and submitted by the broker or originator and by the title insurance company or closing agent. Effective immediately.