SB 2846: Subprime Loans [EPCC]
GENERAL BILL by Deutch ; (CO-INTRODUCERS) Siplin
Subprime Loans [EPCC]; Prohibits specified terms in subprime loan agreements. Requires a certificate of completion for lender to make payments to contractor under a home improvement contract. Requires lenders to provide payoff balances within a specified period upon request. Requires a lender to disclose to the borrower the terms and costs associated with a fixed rate loan. Prohibits charging points and fees in certain refinancing, etc.
Effective Date: 10/01/2008
Last Action: 5/2/2008 Senate - Died in Committee on Commerce
Bill Text: Web Page | PDF
Last Action: 5/2/2008 Senate - Died in Committee on Commerce
Bill Text: Web Page | PDF
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Bill History
Date Chamber Action 3/4/2008 Senate • Filed
3/20/2008 Senate • Introduced, referred to Banking and Insurance; Commerce; Judiciary; General Government Appropriations -SJ 00314
4/10/2008 Senate • On Committee agenda-- Banking and Insurance, 04/15/08, 9:15 am, 412-K
4/15/2008 Senate • Favorable by Banking and Insurance; YEAS 6 NAYS 2 -SJ 00617; Now in Commerce -SJ 00617
5/2/2008 Senate • Died in Committee on Commerce
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SB 2846, Original Filed Version (Current Bill Version) Posted 3/4/2008 at 8:39 AM
Bill Text: Web Page | PDF Analyses: Banking and Insurance (Post-Meeting) 4/12/2008 (pdf)
Related Bills (2)
Bill Number Subject Filed By Relationship Last Action and Location H 381 Lending Practices Soto Compare Last Action: 1/3/2008 H Referred to Jobs & Entrepreneurship Council; Withdrawn from Jobs & Entrepreneurship Council; Withdrawn prior to introduction -HJ 00034
Location:H 979 Subprime Loans Randolph Compare Last Action: 5/2/2008 H Died in Committee on Financial Institutions (JE)
Location:Committee Votes (1)
Date Committee Result 4/15/2008 9:15 AM Banking and Insurance 6 Yeas - 2 Nays Citations - Statutes (6)
Citation Catchline Location in Bill Location In Bill Help 494.0078 Short title; purposes. 494.0079 Definitions. 494.00791 Prohibited acts. 494.00792 Required disclosures for high-cost home loans. 494.00794 Right to cure high-cost home loans. 494.00796 Enforcement.