Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the consumer mortgage protection act. Amends sec. 2 of 2002 PA 660 (MCL 445.1632). TIE BAR WITH: HB 6177'26

HB 6189 updates the definitions within Michigan's Consumer Mortgage Protection Act to clarify terms such as "mortgage loan," "reverse-mortgage," and "regulated lender." These changes aim to align the law with newer statutes like the Residential Mortgage Licensing and Supervision Act and ensure consistency across various financial regulations. The bill does not alter existing operational rules but instead refines the vocabulary used to describe lenders, borrowers, and related financial products. It is contingent upon the passage of a companion bill, HB 6177, before it can take effect.