PREDATORY HOME LOAN ACT
Summary
Creates the Predatory Home Loan Practices Act. Prohibits various practices and charges in connection with home loans made to persons with respect to their primary residence. Prohibits the imposition of prepayment penalties, flipping of loans, and lender financing of credit insurance. Imposes limitations on high-cost loans. Prohibits loans unless the lender reasonably believes that the borrower is able to make scheduled payments to repay the loan without respect to the borrower's equity in the property. Authorizes a borrower to obtain damages for violations of the Act.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2007
Committee Review
Floor Vote
Governor
Introduced Feb 21, 2007
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
57
Key actions
0
Committee
11
Amendments
5
Jan 13, 2009
House · Failed
Session Sine Die
May 25, 2007
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
May 18, 2007
House · Amendment adopted
House Floor Amendment No. 3 Adopted by Voice Vote
May 18, 2007
House · Reported by committee
House Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 003-000-000
May 15, 2007
House · Referred to committee
House Floor Amendment No. 3 Referred to Rules Committee
May 15, 2007
House · Amendment offered
House Floor Amendment No. 3 Filed with Clerk by Rep. Daniel J. Burke
May 2, 2007
House · Amendment adopted
House Floor Amendment No. 2 Adopted by Voice Vote
Apr 30, 2007
House · Reported by committee
House Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 003-000-000
Apr 26, 2007
House · Referred to committee
House Floor Amendment No. 2 Referred to Rules Committee
Apr 26, 2007
House · Amendment offered
House Floor Amendment No. 2 Filed with Clerk by Rep. Daniel J. Burke
Apr 25, 2007
House · Reported by committee
House Floor Amendment No. 1 Recommends Be Adopted Executive Committee; 013-000-000
Apr 18, 2007
House · Reported by committee
House Floor Amendment No. 1 Rules Refers to Executive Committee
Apr 17, 2007
House · Referred to committee
House Floor Amendment No. 1 Referred to Rules Committee
Apr 17, 2007
House · Amendment offered
House Floor Amendment No. 1 Filed with Clerk by Rep. Daniel J. Burke
Mar 21, 2007
House · Reported by committee
Do Pass / Short Debate Executive Committee; 013-000-000
Feb 27, 2007
House · Referred to committee
Assigned to Executive Committee
Feb 21, 2007
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Daniel J. Burke
DDemocratic
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