Michigan HB6192 amends licensing statutes for mortgage brokers and lenders, including procedures for suspension and prohibition orders.

Michigan HB6192 amends the licensing statutes related to residential mortgages, specifically addressing procedures for suspension and prohibition orders. The bill outlines the process for the director to issue notices and orders to individuals found to have engaged in fraud. It includes provisions for hearings, judicial review, and the consequences of violating final orders. The bill also specifies the definition of "fraud" and "financial licensing act." The changes in this bill are contingent on the enactment of House Bill No. 6177.

Michigan HB6192 amends licensing statutes for mortgage brokers and lenders, including procedures for suspension and prohibition orders.

Michigan HB6192 amends the licensing statutes related to residential mortgages, specifically addressing procedures for suspension and prohibition orders. The bill outlines the process for the director to issue notices and orders to individuals found to have engaged in fraud. It includes provisions for hearings, judicial review, and the consequences of violating final orders. The bill also specifies the definition of "fraud" and "financial licensing act." The changes in this bill are contingent on the enactment of House Bill No. 6177.