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MN HF2817

Bill

Official Source

Status

Introduced

3/12/2012

Primary Sponsor

Jim Davnie

Click for details

Origin

House of Representatives

87th Legislature 2011-2012

AI Summary

  • Prohibits mortgage lenders or brokers from charging fees for services not actually provided in connection with mortgage loan origination
  • Prohibits mortgage lenders or brokers from charging fees or charges that exceed the cost they paid to a third party for products or services
  • Creates new statute Minnesota Statutes, chapter 47, section 223
  • Applies to all mortgage lending and brokering activities in Minnesota

Legislative Description

Mortgage lenders or brokers prohibited from charging for services not performed or changes in excess of what was paid to a third party.

Last Action

Author added Nelson

3/19/2012

Committee Referrals

Commerce and Regulatory Reform3/12/2012

Full Bill Text

No bill text available