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February 12, 1999
Mr. Speaker:
The Business, Labor, and Economic Development Committee reports a favorable recommendation on H.B. 294, REGULATION OF MORTGAGE LENDERS, by Representative G. Adair, with the following amendments:
1. Page 2, Line 30: After "known that:" insert:
"(i) as a result of the transaction, the total of all residential mortgage loans outstanding on the dwelling that is secured by those loans exceeds the fair market value of the dwelling; and
(ii) because the residential mortgage loans exceed the fair market value of the dwelling as described in Subsection (2)(f)(i), "
Respectfully,
John William 'Bill' Hickman
Committee Chair
Voting: 10-0-4
3 HB0294.HC1 Snewton/MCP PO/MCP 10:00 AM
Bill Number
Action Code
*HB0294*
*HCRAMD*
HB0294
HCRAMD