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Financial Institutions

2007 Senate Bill 828 / 2008 Public Act 66

Impose new subprime mortgage regulations

Introduced by Sen. Hansen Clarke (D-1) on Oct. 16, 2007
Passed 38 to 0 in the Senate on Nov. 6, 2007
Passed 107 to 0 in the House on Feb. 13, 2008
Signed by Gov. Jennifer Granholm on April 2, 2008

2007 Senate Bill 939 / Public Act 179

Replace SBT references with MBT in various statutes

Introduced by Sen. Randy Richardville (R-17) on Nov. 29, 2007
Passed 37 to 0 in the Senate on Dec. 6, 2007
Passed 108 to 0 in the House on Dec. 12, 2007
Signed by Gov. Jennifer Granholm on Dec. 20, 2007

2007 House Bill 5408 / Public Act 145

Impose Michigan Business Tax surcharge and repeal service tax

Introduced by Rep. Andy Coulouris (D-95) on Oct. 31, 2007
Passed 58 to 47 in the House on Nov. 8, 2007
Passed 58 to 48 in the House on Nov. 8, 2007
Passed 20 to 16 in the Senate on Nov. 20, 2007
Passed 57 to 44 in the House on Nov. 28, 2007
Failed 13 to 22 in the Senate on Nov. 28, 2007
Passed 33 to 4 in the Senate on Dec. 1, 2007
Passed 66 to 42 in the House on Dec. 1, 2007
Signed by Gov. Jennifer Granholm on Dec. 1, 2007

2007 Senate Bill 290 / Public Act 46

Exempt leased employee from secondary mortgage broker licensure

Introduced by Sen. Randy Richardville (R-17) on Feb. 28, 2007
Passed 36 to 0 in the Senate on March 14, 2007
Passed 109 to 0 in the House on June 28, 2007
Signed by Gov. Jennifer Granholm on July 17, 2007

2007 Senate Bill 432

Prohibit appraisers inflating appraisal for pay

Introduced by Sen. Randy Richardville (R-17) on April 24, 2007
Passed 38 to 0 in the Senate on May 2, 2007

2006 House Bill 6299 / Public Act 581

Revise bank trust fee regulations

Introduced by Rep. David Law (R-39) on June 29, 2006
Passed 107 to 0 in the House on Sept. 21, 2006
Passed 38 to 0 in the Senate on Dec. 13, 2006
Signed by Gov. Jennifer Granholm on Dec. 30, 2006

2006 House Bill 6458

Establish new identity theft regulations

Introduced by Rep. David Farhat (R-91) on Sept. 12, 2006
Passed 103 to 3 in the House on Sept. 19, 2006

2006 House Bill 6436

Establish specific mortgage fraud crime

Introduced by Rep. Fran Amos (R-43) on Sept. 7, 2006
Passed 105 to 1 in the House on Sept. 19, 2006

2006 House Bill 6435

Prohibit inducing appraisers to inflate appraisal for pay

Introduced by Rep. Tom Casperson (R-108) on Sept. 7, 2006
Passed 105 to 1 in the House on Sept. 19, 2006

2006 House Bill 6432

Establish specific mortgage fraud crime

Introduced by Rep. Fran Amos (R-43) on Sept. 7, 2006
Passed 105 to 1 in the House on Sept. 19, 2006

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