l9n/ Connecticut

2006 Regular Session

Senate Bill 228

AN ACT CONCERNING MORTGAGE PRACTICES AND LICENSING PROCEDURES.

Became law as Public Act 06-45, signed May 8, 2006, 81 days after it was filed.

What it does

The synopsis the General Assembly published with the bill.

To reduce the administrative burden on the Department of Banking by requiring mortgage licensees to pay a one-hundred-dollar registration fee for each originator, regardless of when during the two-year licensure period the application for registration is made; to extend the limitation on prepaid finance charges to persons making five or fewer first mortgage loans; to require first and secondary mortgage lender and broker licensees to notify the Banking Commissioner of any change to the information provided in the licensing application; to require an originator to notify the licensee with whom such originator is associated of any changes in his or her application; to clarify that when mortgage proceeds are paid to the mortgagee's attorney, the mortgagee is responsible for ensuring payment to the borrower within the required time period; to require mortgage proceeds paid to the mortgagee's attorney by wire transfer to be paid into a clients' funds account; to make the commissioner's enforcement authority over registrants consistent with that of licensees; to prohibit a mortgage lender or broker from passing on to a borrower losses in an undisclosed amount resulting from failure to close on a loan after commitment or prepayment of principal; and to extend the requirements concerning the disbursement of first mortgage loan proceeds to secondary mortgage loan proceeds.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

In the House of Representatives

    2 co-sponsors

    Carlo Leone, Felipe Reinoso

    Its course

    February 16 to May 8, 2006, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

    Each committee stop sits inside its chamber.

    Every action26 actions on 12 days

    In the SenateFeb 16 to Apr 2063 days

    Banking CommitteeFeb 16 to Mar 921 days

    Finance, Revenue and Bonding CommitteeApr 11 to Apr 187 days

    In the House of RepresentativesApr 20 to Apr 255 days

    Waiting to be sentApr 25 to May 38 days

    With the GovernorMay 3 to May 85 days

    Amendments

    Each amendment offered, and what became of it.

    • Senate floor amendmentAdopted

      Adopted Apr 20 · Adopted Apr 25

    Text

    Each version as the General Assembly printed it.

    l9n doesn't hold this bill's text yet.

    What happened

    In l9n's words, one line for each step. Every action as the General Assembly published it is below.

    In the Senate Feb 16 – Apr 20

    1. Feb 16Introduced and sent to Banking Committee
    2. Feb 23Heard in Banking Committee
    3. Mar 9Banking Committee recommended a substitute for it
    4. Apr 11Sent to Finance, Revenue and Bonding Committee
    5. Apr 18Finance, Revenue and Bonding Committee recommended it
    6. Apr 20The Senate adopted Senate Amendment A
    7. Passed the Senate with Senate Amendment A

    In the House of Representatives Apr 21 – Apr 25

    1. Apr 21Arrived in the House of Representatives
    2. Apr 25The House of Representatives adopted Senate Amendment A
    3. Passed the House of Representatives with Senate Amendment A

    To the Governor May 3 – May 8

    1. May 3Numbered Public Act 06-45
    2. Sent to the Secretary of the State
    3. May 8Signed by the Governor
    All 26 actions, as published
    1. Feb 16REF. TO JOINT COMM. ONBoth houses
    2. Feb 23PUBLIC HEARINGBoth houses
    3. Mar 9Joint Favorable SubstituteBoth houses
    4. Mar 9FILED WITH LCOBoth houses
    5. Mar 16REFERRED TO OLR, OFABoth houses
    6. Mar 22RPTD. OUT OF LCOBoth houses
    7. Mar 22FAV. RPT., TAB. FOR CAL., SEN.Senate
    8. Mar 22SENATE CALENDAR NUMBERSenate
    9. Mar 22FILE NO.Both houses
    10. Apr 11REF. BY SEN. TO COMM. ONSenate
    11. Apr 11IMMEDIATE TRANSMITTAL TO COMMITTEESenate
    12. Apr 18Joint FavorableBoth houses
    13. Apr 18FILED WITH LCOBoth houses
    14. Apr 18RPTD. OUT OF LCOBoth houses
    15. Apr 18NO NEW FILE BY COMM. ONBoth houses
    16. Apr 18FAV. RPT., TAB. FOR CAL., SEN.Senate
    17. Apr 20SEN. ADOPTED SEN. AMEND. SCH.Senate
    18. Apr 20SEN. PASSED, SEN. AMEND. SCH.Senate
    19. Apr 21FAV. RPT., TABLED FOR HOUSE CALENDARHouse of Representatives
    20. Apr 21HOUSE CALENDAR NUMBERHouse of Representatives
    21. Apr 25HOUSE ADOPTED SEN. AMEND. SCH.House of Representatives
    22. Apr 25HOUSE PASSED, SEN. AMEND. SCH.House of Representatives
    23. Apr 25IN CONCURRENCEHouse of Representatives
    24. May 3PUBLIC ACTBoth houses
    25. May 3TRANSMITTED TO SECRETARY OF THE STATEBoth houses
    26. May 8SIGNED BY GOVERNORGovernor