Mortgage loan servicing practices; prohibits certain actions, penalty. (SB145)
Introduced By
Sen. Creigh Deeds (D-Charlottesville)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
✓ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Mortgage loan servicing practices; penalties. Prohibits persons that service mortgage loans from taking certain actions with respect to mortgage loans, including failing to apply promptly to the loan payments made in accordance with the terms of the loan agreement and taking actions for the primary purpose of creating a default under the terms of a mortgage loan. A violation constitutes a Class 1 misdemeanor. The State Corporation Commission is authorized to conduct investigations. The measure does not apply to banks or savings institutions or their subsidiaries or affiliates. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/10/2006 | Prefiled and ordered printed; offered 01/11/06 064375724 |
01/10/2006 | Referred to Committee on Commerce and Labor |
01/27/2006 | Fiscal impact statement from DPB (SB145) |
02/13/2006 | Reported from Commerce and Labor with substitute (15-Y 0-N) (see vote tally) |
02/13/2006 | Committee substitute printed 062766724-S1 |
02/14/2006 | Read second time |
02/14/2006 | Committee substitute rejected 062766724-S1 |
02/14/2006 | Floor substitute printed 062767724-S2 (Deeds) |
02/14/2006 | Reading of substitute waived |
02/14/2006 | Substitute by Senator Deeds agreed to 062767724-S2 |
02/14/2006 | Engrossed by Senate - floor substitute SB145S2 |
02/14/2006 | Constitutional reading dispensed (40-Y 0-N) |
02/14/2006 | Passed Senate (40-Y 0-N) |
02/14/2006 | VOTE: (40-Y 0-N) (see vote tally) |
02/14/2006 | Communicated to House |
02/15/2006 | Placed on Calendar |
02/15/2006 | Read first time |
02/15/2006 | Referred to Committee on Commerce and Labor |
02/19/2006 | Fiscal impact statement from DPB (SB145S2) |
03/06/2006 | Continued to 2007 in Commerce and Labor |