Consolidates licensing statutes for mortgage brokers and lenders in Michigan and makes conforming changes in the Michigan Zoning Enabling Act.
This bill consolidates certain licensing statutes related to residential mortgages in Michigan, affecting mortgage brokers and lenders. It amends the Michigan Zoning Enabling Act to allow local governments to charge reasonable fees for zoning permits and to deny zoning authorizations to individuals delinquent in paying certain fines. The bill also specifies exceptions to these provisions, such as for mortgage servicers and financial institutions. The changes take effect only if another bill, HB 6177, is enacted into law.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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