HI SB1262

Permits the Commissioner of Financial Institutions to adjust mortgage loan recovery fund fees without following the rulemaking process under Chapter 91, Hawaii Revised Statutes.

Allows the commissioner to make a finding to adjust fees or cease collections when the fund reaches $750,000, the intended target balance established by Act 84, Session Laws of Hawaii 2010.

Addresses excessive fund accumulation that had grown to over $1,100,000 as of the 2014 legislative report, despite the original $750,000 goal.

Maintains the provision that if the fund falls below $250,000 after the first five years, the commissioner may adjust fees to rebuild the fund to the $750,000 target level.