A bill to amend 1988 PA 161, entitled "Consumer financial services act," by amending sections 2, 6, and 9 (MCL 487.2052, 487.2056, and 487.2059), sections 2 and 6 as amended by 2006 PA 252 and section 9 as amended by 2009 PA 78.
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
