2008 Regular Session


File Code: Commercial Law - Credit Regulation
Sponsored By:
Delegates Lafferty, Glenn, Haynes, Jameson, Levy, McHale, Mizeur, Murphy, Niemann, Schuh, Schuler, and Stein
Credit Regulation - Advisory Loans - Requirements for Housing Advice


Prohibiting a lender or credit grantor from closing an advisory loan until the lender or credit grantor receives proof that the primary borrower has completed home buyer education or obtained housing advice; requiring a lender, credit grantor, or mortgage broker to provide an applicant for an advisory loan, within a specified time of the loan application or offer, with a written notice including agencies and organizations approved to provide home buyer education or housing advice; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.
House Action
First Reading Economic Matters
Hearing 2/21 at 5:00 p.m.
Hearing cancelled
Hearing 2/22 at 1:00 p.m.
Favorable with Amendments Report by Economic Matters
Favorable with Amendments Report Adopted
Special Order 4/2 (Delegate Krebs) Adopted
Floor Amendment (Delegate Krebs) Rejected (36-95)
Floor Amendment (Delegate Eckardt) Rejected
Floor Committee Amendment Adopted
Second Reading Passed with Amendments
Third Reading Passed (115-24)
Senate Action
First Reading Senate Rules
Re-referred Finance
Hearing 4/5 at 11:00 a.m.
Favorable with Amendments Report by Finance
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
Motion two readings same day Const/Rule 24 (Senator Middleton) Adopted
Third Reading Passed with Amendments (46-0)

Sponsored by:

Delegate Stephen W. Lafferty, District 42
Delegate Cheryl D. Glenn, District 45
Delegate Keith E. Haynes, District 44
Delegate Sally Jameson, District 28
Delegate Murray D. Levy, District 28
Delegate Brian K. McHale, District 46
Delegate Heather R. Mizeur, District 20
Delegate Peter Murphy, District 28
Delegate Doyle L. Niemann, District 47
Delegate Steven R. Schuh, District 31
Delegate Todd Schuler, District 8
Delegate Dana Stein, District 11

Bill indexed under the following Subjects:

Administrative Agencies -see also- Electronic Government
Agents and Brokers
Attorney General
Consumer Protection -see also- Unfair Trade Practices
Education -see also- Driver Ed; Higher Ed; Special Ed; etc
Electronic Government
Financial Regulation, Division of
Housing and Community Development, Department of
Housing -see also- Apartments; Condominiums; Mobile Homes
Investigations and Inquiries -see also- Crim Bckgrnd Invest.
Nonprofit Organizations
Publications -see also- Maryland Register
Rules and Regulations

Bill affects the following Statutes:

Commercial Law
( 12-124.1 , 12-311 , 12-409.1 , 12-1029 )


Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments (Displayed in PDF Format):
Number: 413691/01     Offered on: April 1, 2008   at: 11:01 a.m.     Status: Adopted
Number: 423927/01     Offered on: April 2, 2008   at: 11:28 a.m.     Status: Rejected
Number: 433226/01     Offered on: April 2, 2008   at: 11:39 a.m.     Status: Rejected
Number: 553220/01     Offered on: April 2, 2008   at: 11:44 a.m.     Status: Adopted
Number: 567978/01     Offered on: April 7, 2008   at: 9:38 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
March 27, 2008: Floor Amendment (Krebs) {423927/1 Rejected (36-95)
March 28, 2008: Third Reading Passed (115-24)
April 4, 2008: Third Reading Passed (46-0)