Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the code of criminal procedure. Amends secs. 14h & 14p, ch. XVII of 1927 PA 175 (MCL 777.14h & 777.14p). TIE BAR WITH: HB 6177'26

HB 6200 proposes to combine existing laws that govern the licensing of mortgage brokers and lenders in Michigan. The bill directly affects financial institutions and individuals who operate in the residential mortgage market by streamlining the legal statutes they must follow. It achieves this consolidation by updating specific sections within the state's Code of Criminal Procedure to merge related regulations into a single framework. This change aims to organize the legal code rather than introduce new rules or alter current operational requirements.