MGA Home Page
2008 Regular Session bill information current as of November 23, 2008 - 0:20 a.m.
Sponsors Title Synopsis History Sponsor List Subjects Statutes Documents Another Session Another Bill

SENATE BILL 270

CHAPTER NUMBER: 7
File Code: Commercial Law - Credit Regulation
Crossfiled with: HOUSE BILL 363

Sponsored By:
The President (By Request - Administration) and Senators Currie, Della, Gladden, Jones, Kelley, Lenett, Madaleno, Middleton, Muse, Pinsky, Pugh, Raskin, Stone, Astle, Exum, Garagiola, Haines, and Klausmeier

Entitled:
Credit Regulation - Mortgage Lending and Other Extensions of Credit

Synopsis:

Prohibiting a lender from requiring or authorizing the imposition of prepayment charges in connection with specified mortgage loans; prohibiting lenders and credit grantors from making specified mortgage loans without giving due regard to the borrower's ability to repay the loans; repealing provisions of law that establish a presumption about a borrower's ability to repay a loan; requiring a specified representation by a mortgage broker to be contained in a finder's fee agreement; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used. Explain Legislative Date and Calendar Date
Senate Action
1/25
First Reading Finance
Motion Rules Suspended for late introduction (Senator Klausmeier) Adopted
1/24
Hearing 2/12 at 1:00 p.m.
3/6
Favorable with Amendments Report by Finance
3/7
Favorable with Amendments
Special Order 3/10 (Senator Jones) Adopted
3/10
Favorable with Amendments
Special Order 3/13 (Senator Jones) Adopted
3/13
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/17
Third Reading Passed (46-0)
3/30
Senate Concur - House Amendments
Third Reading Passed (46-0)
Passed Enrolled
House Action
3/15
First Reading Economic Matters
3/19
Hearing 3/27 at 1:00 p.m.
3/31
Favorable with Amendments Report by Economic Matters
3/26
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/27
Third Reading Passed with Amendments (129-7)
Action after passage in Senate and House
4/8
Approved by the Governor
- Chapter 7

Sponsored by:

President, The
Administration
Senator John C. Astle, District 30
Senator Ulysses Currie, District 25
Senator George W. Della, Jr., District 46
Senator Nathaniel Exum, District 24
Senator Rob Garagiola, District 15
Senator Lisa A. Gladden, District 41
Senator Larry E. Haines, District 5
Senator Verna L. Jones, District 44
Senator Delores G. Kelley, District 10
Senator Katherine Klausmeier, District 8
Senator Mike Lenett, District 19
Senator Richard S. Madaleno, Jr., District 18
Senator Thomas M. Middleton, District 28
Senator C. Anthony Muse, District 26
Senator Paul G. Pinsky, District 22
Senator Catherine E. Pugh, District 40
Senator Jamie Raskin, District 20
Senator Norman R. Stone, Jr., District 6

Bill indexed under the following Subjects:

Agents and Brokers
Bonds -see also- County & Baltimore City Bonds; State Bonds.
Consumer Protection -see also- Unfair Trade Practices
Contracts -see also- Land Installment Contracts; Procurement
Credit
Disclosure
Examinations
Fees -see also- Devt Fees and Taxes; Reimbursement Rates
Financial Regulation, Division of
Interstate Affairs
Investigations and Inquiries -see also- Crim Bckgrnd Invest.
Licenses -see also- Alcoholic Bev Lic; Drivers` Licenses
Loans -see also- Mortgages
Mortgages
Penalties
Public Information
Reports
Rules and Regulations

Bill affects the following Statutes:

Commercial Law
( 12-105 , 12-105 , 12-105 , 12-105 , 12-105 , 12-105 , 12-127 , 12-311 , 12-409.1 , 12-805 , 12-925 , 12-1029 )

Financial Institutions
( 2-105.1 , 11-503.1 , 11-506 , 11-507 , 11-507 , 11-508 , 11-508.1 , 11-508.1 , 11-511 , 11-515 , 11-515 , 11-603 , 11-605 , 11-606 , 11-609 , 11-612.1 , 11-613 , 11-615 , 11-615 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled, Chapter

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments (Displayed in PDF Format):
Senate
Number: 827473/01     Offered on: March 13, 2008   at: 11:32 a.m.     Status: Adopted
House
Number: 613397/01     Offered on: April 1, 2008   at: 11:19 a.m.     Status: Adopted

Roll Call Votes (Legislative dates are shown):
Senate
March 17, 2008: Third Reading Passed (46-0)
March 30, 2008: Third Reading Passed (46-0)
House
March 27, 2008: Third Reading Passed (129-7)



Top Sponsors Title Synopsis History Sponsor List Subjects Statutes Documents Another Session Another Bill