2011 House Bill 4543 / Public Act 302

Revise foreclosure restrictions

Introduced in the House

April 13, 2011

Introduced by Rep. Peter Pettalia (R-106)

To revise details of certain procedures, deadlines, authorized “housing counselors” and more in a 2009 law that requires lenders to attempt to negotiate revisions in the terms of loans held by delinquent borrowers, before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process). This bill authorizes criminal penalties for a “housing counselor” who is not on a list of lawyers approved by the state under this law.

Referred to the Committee on Banking and Financial Services

June 15, 2011

Reported without amendment

With the recommendation that the substitute (H-4) be adopted and that the bill then pass.

June 30, 2011

Referred to the Committee on Banking and Financial Services

Dec. 1, 2011

Reported without amendment

With the recommendation that the substitute (H-6) be adopted and that the bill then pass.

Dec. 8, 2011

Substitute offered

The substitute passed by voice vote

Amendment offered by Rep. Marty Knollenberg (R-41)

To strip out a provision extending the sunset of certain provisions of this law until 2015, and instead extend them one more year, until the end of 2012.

The amendment passed by voice vote

Amendment offered by Rep. Marty Knollenberg (R-41)

To remove a provision revising a detail of the meetings with lenders, borrowers and "housing counselors" this law mandates.

The amendment passed by voice vote

Amendment offered by Rep. Jimmy Womack (D-7)

To eliminate the sunset on key provisions of this law.

The amendment failed by voice vote

Passed in the House 108 to 0 (details)

Received in the Senate

Dec. 13, 2011

Referred to the Committee on Banking and Financial Institutions

Dec. 14, 2011

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Amendment offered

To replace the previous version of the bill with one that revises details but does not change the substance as previously described.

The amendment passed by voice vote

Passed in the Senate 38 to 0 (details)

To revise details of certain procedures, deadlines, authorized “housing counselors” and more in a 2009 law that requires lenders to attempt to negotiate revisions in the terms of loans held by delinquent borrowers, before they can proceed to a “foreclosure by advertisement” (instead of the more costly judicial foreclosure process). This bill authorizes criminal penalties for a “housing counselor” who is not on a list of lawyers approved by the state under this law.

Received in the House

Dec. 14, 2011

Dec. 15, 2011

Passed in the House 107 to 0 (details)

To concur with the Senate-passed version of the bill.

Signed by Gov. Rick Snyder

Dec. 21, 2011