2001 Senate Bill 777 / 2002 Public Act 391

Introduced in the Senate

Oct. 23, 2001

Introduced by Sen. Glenn Steil (R-30)

To require that the mortgage broker, lender and servicer license of an individual who commits fraud must be revoked for at least five years.

Referred to the Committee on Banking and Financial Institutions

Oct. 31, 2001

Substitute offered

To recommend modifications to language contained in the bill resulting from committee testimony and deliberation.

The substitute passed by voice vote

Nov. 1, 2001

Passed in the Senate 35 to 0 (details)

To require that the mortgage broker, lender and servicer business license of an individual who commits fraud in the provision of consumer loans must be revoked for at least five years. The bill is part of a legislative package comprised of Senate Bills 776 to 780.

Received in the House

Nov. 1, 2001

May 9, 2002

Passed in the House 101 to 0 (details)

Received in the Senate

May 9, 2002

Signed by Gov. John Engler

May 29, 2002