SB 660 California Senate · 2009-2010 Regular Session

Reverse mortgages.

Summary

Existing law defines and regulates reverse mortgage loans. This bill would provide that a lender, broker, person, or entity that recommends the purchase of a reverse mortgage in anticipation of financial gain owes the prospective borrower a duty of honesty, good faith, and fair dealing, as defined. This bill would provide that a person or entity shall not attempt to avoid the application of these provisions, as specified.

Bill status failed 4 of 5 stages cleared

Introduction

Feb 2009

Committee Review

Jun 2010

Senate Passage

Jun 2010

Assembly Passage

Sep 2009

Governor

Introduced Feb 27, 2009 Last action Nov 30, 2010

Floor votes · Senate Jun 1, 2009 · Assembly Jun 24, 2010

How they voted

23–14

Passed · 1 other

Total votes 38

Jun 1, 2009

D Democratic24

23 Yea 1

95% Yea

R Republican14

14 Nay

100% Nay

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jun 28, 2010

Lower · Passed

(Heard in committee on June 28.)

lower

Jun 28, 2010

Committee

From committee: Be re-referred to Coms. on B. & F. and JUD. (Ayes 11. Noes 0.) Re-referred to Com. on B. & F.

lower

Jun 24, 2010

Assembly · Passed

Assembly Vote: pass (42-24-3)

assembly

Jun 24, 2010

Committee

Re-referred to Com. on RULES.

lower

Jun 21, 2010

Upper · Passed

Action rescinded whereby the bill was read a third time, passed, and ordered to the Senate.

upper

Jul 14, 2009

Lower · Passed

(Heard in committee on July 9.)

lower

Jul 14, 2009

Lower · Passed

From committee: Do pass as amended. (Ayes 7. Noes 3.)

lower

Jul 8, 2009

Committee

Read second time. Amended. Re-referred to Com. on JUD.

lower

Jul 6, 2009

Lower · Passed

(Heard in committee on July 6.)

lower

Jul 6, 2009

Lower · Passed

From committee: Do pass as amended, but first amend, and re-refer to Com. on JUD. (Ayes 6. Noes 3.)

lower

Jun 30, 2009

Lower · Passed

Hearing postponed by committee.

lower

Jun 1, 2009

Senate · Passed

Senate Vote: pass (23-14-1)

senate

May 19, 2009

Upper · Passed

From committee: Do pass as amended. (Ayes 3. Noes 2. Page 875.)

upper

May 6, 2009

Committee

From committee: Do pass, but first be re-referred to Com. on JUD. (Ayes 8. Noes 3. Page 805.) Re-referred to Com. on JUD.

upper

Apr 27, 2009

Upper · Passed

Hearing postponed by committee.

upper

Apr 13, 2009

Upper · Passed

Hearing postponed by committee.

upper

Feb 27, 2009

Introduced

Introduced. To Com. on RLS. for assignment. To print.

upper

1 primary · 0 co-sponsors