HOME LOAN PREPAYMENT PENALTIES
Summary
Amends the Residential Mortgage License Act of 1987, the High Risk Home Loan Act, and the Interest Act. Limits the imposition of prepayment penalties in connection with high risk home loans. Limits the size of balloon payments in connection with high risk home loans. Limits the imposition of late fees. Effective January 1, 2013.
Bill status
failed
4 of 5 stages cleared
Introduction
Mar 2012
Committee Review
Jul 2012
Senate Passage
Mar 2012
House Passage
May 2012
Governor
Introduced Mar 29, 2012
Last action Jan 8, 2013
Floor votes · Senate Mar 28, 2012 · House May 31, 2012
How they voted
52–0
Passed · 6 other
Total votes 58
Mar 28, 2012
D
Democratic34
97% Yea
R
Republican24
79% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
102
Key actions
2
Committee
24
Amendments
16
Jan 8, 2013
Senate · Failed
Session Sine Die
Jul 1, 2012
Senate · Referred to committee
House Floor Amendment No. 2 Motion to Concur Referred to Assignments; Pursuant to Senate Rule 3-9(b).
Jul 1, 2012
Senate · Referred to committee
House Committee Amendment No. 1 Motion to Concur Referred to Assignments; Pursuant to Senate Rule 3-9(b).
Jul 1, 2012
Senate · Referred to committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
May 31, 2012
Senate · Amendment offered
House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Financial Institutions; 007-005-000
May 31, 2012
Senate · Reported by committee
House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Financial Institutions; 007-005-000
May 31, 2012
Senate · Referred to committee
House Floor Amendment No. 2 Motion to Concur Assignments Referred to Financial Institutions
May 31, 2012
Senate · Referred to committee
House Committee Amendment No. 1 Motion to Concur Assignments Referred to Financial Institutions
May 31, 2012
Senate · Referred to committee
House Floor Amendment No. 2 Motion to Concur Referred to Assignments
May 31, 2012
Senate · Referred to committee
House Committee Amendment No. 1 Motion to Concur Referred to Assignments
May 31, 2012
Senate · Amendment offered
Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 31, 2012
May 31, 2012
Senate · Amendment offered
Secretary's Desk - Concurrence House Amendment(s) 1, 2
May 31, 2012
House · Amendment adopted
House Floor Amendment No. 2 Adopted by Voice Vote
May 31, 2012
House · Reported by committee
House Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 005-000-000
May 31, 2012
House · Passed
House Vote: pass (67-48-3)
May 30, 2012
House · Referred to committee
House Floor Amendment No. 3 Referred to Rules Committee
May 30, 2012
House · Amendment offered
House Floor Amendment No. 3 Filed with Clerk by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Floor Amendment No. 2 Recommends Be Adopted Judiciary I - Civil Law Committee; 007-003-000
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 State Debt Impact Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 Pension Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 Land Conveyance Appraisal Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 Judicial Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 Housing Affordability Impact Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 Home Rule Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 Correctional Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 Balanced Budget Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Committee Amendment No. 1 State Debt Impact Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Committee Amendment No. 1 Pension Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Committee Amendment No. 1 Land Conveyance Appraisal Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Committee Amendment No. 1 Judicial Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Committee Amendment No. 1 Housing Affordability Impact Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Committee Amendment No. 1 Home Rule Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Committee Amendment No. 1 Correctional Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Committee Amendment No. 1 Balanced Budget Note Requested as Amended by Rep. Karen A. Yarbrough
May 30, 2012
House · Reported by committee
House Floor Amendment No. 2 Rules Refers to Judiciary I - Civil Law Committee
May 30, 2012
House · Referred to committee
House Floor Amendment No. 2 Referred to Rules Committee
May 30, 2012
House · Amendment offered
House Floor Amendment No. 2 Filed with Clerk by Rep. Karen A. Yarbrough
May 22, 2012
House · Reported by committee
Do Pass as Amended / Short Debate Judiciary I - Civil Law Committee; 010-000-000
May 22, 2012
House · Amendment adopted
House Committee Amendment No. 1 Adopted in Judiciary I - Civil Law Committee; by Voice Vote
May 21, 2012
House · Reported by committee
House Committee Amendment No. 1 Rules Refers to Judiciary I - Civil Law Committee
May 17, 2012
House · Referred to committee
House Committee Amendment No. 1 Referred to Rules Committee
May 17, 2012
House · Amendment offered
House Committee Amendment No. 1 Filed with Clerk by Rep. Elaine Nekritz
Mar 28, 2012
Senate · Passed
Senate Vote: pass (52-0-6)
0 primary · 14 co-sponsors
Sponsors
Role
Legislator
Party
State
District
Co
Barbara Flynn Currie
DDemocratic
Co
Camille Lilly
DDemocratic
Co
Constance A. Howard
DDemocratic
Co
Cynthia Soto
DDemocratic
Co
Daniel Biss
DDemocratic
Co
Deborah Mell
DDemocratic
Co
Edward J. Acevedo
DDemocratic
Co
Jacqueline Y. Collins
DDemocratic
Co
Kenneth Dunkin
DDemocratic
Co
Kimberly du Buclet
DDemocratic
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