Wet Settlement Act; lender's disclosure of charges for appraisal and valuation. (SB158)

Introduced By

Sen. Don McEachin (D-Richmond)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Wet settlement act; lender's disclosure of appraisal information. Requires any lender providing a loan secured by a first mortgage on real estate containing not more than four residential dwelling units to disclose on the settlement statement whether the borrower is being charged for an appraisal or a valuation using an automated or other mechanism for valuing the property. Read the Bill »


Bill Has Passed


01/07/2008Prefiled and ordered printed; offered 01/09/08 088621273
01/07/2008Referred to Committee on Commerce and Labor
01/18/2008Impact statement from SCC (SB158)
01/21/2008Reported from Commerce and Labor with substitute (14-Y 1-N) (see vote tally)
01/21/2008Committee substitute printed 080146273-S1
01/23/2008Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/23/2008Impact statement from SCC (SB158S1)
01/24/2008Read second time
01/24/2008Reading of substitute waived
01/24/2008Committee substitute agreed to 080146273-S1
01/24/2008Engrossed by Senate - committee substitute SB158S1
01/25/2008Passed by for the day
01/28/2008Read third time and passed Senate (40-Y 0-N) (see vote tally)
01/28/2008Communicated to House
02/12/2008Placed on Calendar
02/12/2008Read first time
02/12/2008Referred to Committee on Commerce and Labor
02/19/2008Reported from Commerce and Labor with amendment (22-Y 0-N) (see vote tally)
02/21/2008Read second time
02/22/2008Read third time
02/22/2008Committee amendment agreed to
02/22/2008Engrossed by House as amended
02/22/2008Passed House with amendment BLOCK VOTE (94-Y 0-N)
02/22/2008VOTE: BLOCK VOTE PASSAGE (94-Y 0-N)
02/26/2008House amendment agreed to by Senate (39-Y 1-N)
02/27/2008Bill text as passed Senate and House (SB158ER)
02/27/2008Signed by Speaker
02/28/2008Signed by President
02/29/2008Impact statement from SCC (SB158ER)
03/05/2008G Approved by Governor-Chapter 400 (effective 7/1/08)
03/14/2008G Acts of Assembly Chapter text (CHAP0400)