HI SB3075 | 2024 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 24 2024 - 25% progression
Action: 2024-01-26 - Referred to CPN, WAM.
Pending: Senate Commerce and Consumer Protection Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 24 2024 - 25% progression
Action: 2024-01-26 - Referred to CPN, WAM.
Pending: Senate Commerce and Consumer Protection Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Clarifies the eligibility to recover from the Mortgage Loan Recovery Fund to include consumers aggrieved by the conduct of a mortgage loan originator licensee. Allows for the annual use of $50,000 of the fund for training the Division of Financial Institutions and its attorneys relating to the residential mortgage industry, providing training to licensees, developing educational materials for licensees in the area relating to licensure under this chapter, and educating the public in the area relating to residential mortgage loans. Increases the restitution available to consumers from the Mortgage Loan Recovery Fund to the amount of $150,000, bringing consistency to sections 454F-41 and 454F-42, HRS.
Title
Relating To The Mortgage Loan Recovery Fund.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-26 | Senate | Referred to CPN, WAM. |
| 2024-01-24 | Senate | Passed First Reading. |
| 2024-01-24 | Senate | Introduced. |
Same As/Similar To
HB2386 (Same As) 2024-01-26 - Referred to CPC, FIN, referral sheet 3
Subjects
Hawaii State Sources
| Type | Source |
|---|---|
| Summary | https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=3075&year=2024 |
| Text | https://www.capitol.hawaii.gov/sessions/session2024/bills/SB3075_.HTM |
