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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 Class
Action Code

*HB0294*
*H*
*HCRAMD*

HB0294
H
HCRAMD