2008 House Bill 6618 / Public Act 323

Revise mortgage loan license penalties

Introduced in the House

Nov. 6, 2008

Introduced by Rep. Virgil Smith (D-7)

To revise the sentencing guidelines for violation of the secondary mortgage loan regulations to reflect the reduction of penalty for license violations to a misdemeanor proposed by Senate Bill 1552.

Referred to the Committee on Banking and Financial Services

Nov. 12, 2008

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Nov. 13, 2008

Passed in the House 105 to 0 (details)

Received in the Senate

Dec. 2, 2008

Referred to the Committee on Banking and Financial Institutions

Dec. 4, 2008

Reported without amendment

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

Substitute offered

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

The substitute passed by voice vote

Passed in the Senate 37 to 0 (details)

To revise the sentencing guidelines for violation of the secondary mortgage loan regulations to reflect the reduction of penalty for license violations to a misdemeanor proposed by Senate Bill 1552.

Received in the House

Dec. 4, 2008

Dec. 9, 2008

Passed in the House 106 to 0 (details)

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

Signed by Gov. Jennifer Granholm

Dec. 17, 2008