Consolidates licensing statutes for mortgage brokers and lenders in Michigan.
This bill amends the 1995 PA 280 to consolidate certain licensing statutes related to residential mortgages. It makes conforming changes to the Mortgage Brokers, Lenders, and Servicers Licensing Act of 1987. The changes include defining terms such as "credit card arrangement," "financial transaction device," and "local school district." The bill also specifies entities that can issue obligations under the Revised Municipal Finance Act. The amendment does not take effect unless House Bill No. 6177 is enacted.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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