A bill to amend 2008 PA 551, entitled "Uniform securities act (2002)," by amending sections 401 and 402 (MCL 451.2401 and 451.2402), section 401 as amended by 2014 PA 355.
House Bills 6177 through 6124 creates a unified regulatory regime for Michigan's residential mortgage industry, establishing licensing, conduct, consumer protection, and enforcement standards for mortgage brokers, lenders, servicers, and loan originators, while consolidating and replacing prior statutes.
Co-sponsored by Reps.
Referred to the Committee on Finance
