Housing (Mortgages)

passed · Michigan · House Aug 26, 2026

HB 6243: Property: land sales; prohibition of purchase of residential property by certain businesses; modify. Amends secs. 3 & 7 of 2026 PA 32 (MCL 125.853 & 1125.857).

HB 6243 amends Michigan law to prohibit large institutional investors from purchasing single-family homes, with the restriction applying to entities that control more than 100 such properties and manage at least $375 million in assets. The bill defines specific exceptions that allow these investors to continue buying homes through build-to-rent programs, renovate-to-rent initiatives that meet structural standards, and homeownership assistance schemes that offer financial support or credit reporting benefits to renters. Additionally, the legislation permits acquisitions resulting from foreclosure or loss mitigation efforts, provided the properties are sold within a commercially reasonable timeframe, and allows for the transfer of homes already owned by these investors prior to the law's effective date.

Topics ✗ HousingOpposes HousingBill prohibits large institutional investors from purchasing single-family homes, restricting housing development and market participation by major entities.85% confidence

Sub-Topics Homeownership Mortgages Renters

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in committee · Michigan · House Jul 14, 2026

HB 6180: Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the Michigan zoning enabling act. Amends sec. 406 of 2006 PA 110 (MCL 125.3406). TIE BAR WITH: HB 6177'26

This bill amends Michigan zoning laws to allow cities to deny zoning permits to individuals who owe fines or court costs from administrative hearings. However, it creates an exemption for specific entities, including government housing agencies, financial institutions, and licensed mortgage servicers, preventing these groups from being blocked due to such delinquencies. The legislation also ensures that a permit cannot be denied if the applicant is trying to fix the specific blight issue that originally caused the unpaid fine. This change aims to prevent financial penalties from hindering the ability of regulated lenders and housing authorities to process necessary zoning requests.

Topics ✓ HousingSupports HousingBill exempts housing agencies and lenders from zoning denials due to unpaid fines, preventing barriers to housing development and protecting essential housing entities.85% confidence

Sub-Topics Community Development Mortgages Zoning

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in committee · Michigan · House Jul 14, 2026

HB 6177: Financial institutions: mortgage brokers and lenders; residential mortgage licensing and supervision act; establish. Creates new act & repeals (See bill).

HB 6177 establishes the Residential Mortgage Licensing and Supervision Act to create a comprehensive regulatory framework for mortgage brokers, lenders, servicers, and loan originators in Michigan. The bill mandates that these entities and their key personnel obtain state licenses while prohibiting specific unethical conduct related to residential loans. It empowers the Department of Insurance and Financial Services to enforce rules, impose penalties, and appoint conservators when necessary, and it creates a new advisory board to oversee the industry. Additionally, the legislation defines various roles and exemptions to clarify who must be licensed versus who is exempt from these requirements.

Topics ✓ HousingSupports HousingBill establishes a regulatory framework to prevent unethical conduct in residential loans, protecting consumers and stabilizing the housing market.85% confidence

Sub-Topics Mortgages

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in committee · Michigan · House Jul 14, 2026

HB 6192: Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the debt management act. Amends sec. 8a of 1975 PA 148 (MCL 451.418a). TIE BAR WITH: HB 6177'26

HB 6192 amends Michigan's Debt Management Act to strengthen the state director's authority to investigate and punish mortgage brokers and lenders who engage in fraud. The bill allows the director to issue immediate suspensions or permanent prohibitions against individuals found guilty of fraud, dishonesty, or felony convictions involving financial misconduct. It establishes a formal process where accused individuals receive written notice, have the right to a hearing within 60 days, and can apply to have an order lifted after five years. Additionally, the law clarifies that violating a final prohibition order is a misdemeanor punishable by up to one year in jail or a fine of $5,000. This legislation is tied to another bill, HB 6177, and will only become effective if that companion bill is also passed.

Topics ✓ Criminal JusticeSupports Criminal JusticeBill strengthens oversight and enforcement against financial fraud, protecting victims and enhancing accountability within the justice system.75% confidence ✓ HousingSupports HousingBill strengthens fraud enforcement for mortgage brokers, protecting consumers and promoting housing market integrity.75% confidence

Sub-Topics Corrections Mortgages

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in committee · Michigan · House Jul 14, 2026

HB 6179: Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the Stille-DeRossett-Hale single state construction code act. Amends sec. 9c of 1972 PA 230 (MCL 125.1509c). TIE BAR WITH: HB 6177'26

This bill allows cities in Michigan to deny building permits, certificates of use and occupancy, or variances to individuals who owe unpaid fines or assessments related to local construction code enforcement. However, the law explicitly exempts certain entities from these penalties, including government-sponsored housing groups, financial institutions, credit union service organizations, and licensed mortgage servicers. Additionally, the bill ensures that permits cannot be denied if the proposed construction work is intended to fix the specific code violation that caused the original fine. The legislation will only take effect if a companion bill, HB 6177, is also passed into law.

Topics ✗ HousingOpposes HousingBill restricts housing development by allowing permit denials for unpaid fines, though it exempts some entities.85% confidence

Sub-Topics Building Codes Mortgages

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in committee · Michigan · House Jul 14, 2026

HB 6186: Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in 1966 PA 326. Amends sec. 1c of 1966 PA 326 (MCL 438.31c). TIE BAR WITH: HB 6177'26

HB 6186 amends Michigan's existing mortgage interest laws to clarify and update rules regarding rates and fees for residential loans. The bill primarily affects lenders, mortgage brokers, and borrowers by reinforcing restrictions on prepayment penalties, limiting upfront fees, and capping interest rates at 11% per annum for certain types of loans, such as those made by unqualified lenders or second mortgages. It also ensures that interest is calculated only on unpaid balances and prohibits interest from being added or deducted in advance. By updating the 1966 statute, the legislation aims to maintain consumer protections while aligning the law with current lending practices.

Topics ✓ HousingSupports HousingBill protects borrowers by capping interest rates and limiting fees, preventing predatory lending that threatens housing stability.85% confidence

Sub-Topics Mortgages

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in committee · Michigan · House Apr 23, 2026

HB 5865: Property tax: other; HOPE zone exemption; provide for. Amends sec. 5 of 2003 PA 260 (MCL 211.1025). TIE BAR WITH: HB 5852'26, HB 5856'26

HB 5865 establishes a new annual property tax specifically for properties that were previously owned by land banks and sold to clear title issues. This tax is designed to generate revenue for the state and the specific land bank authority that originally sold the property, with funds split evenly between general local taxes and the land bank for future cleanup efforts. The bill includes an exemption for properties located in designated HOPE zones or Renaissance zones, ensuring these areas remain financially supported. Additionally, the tax is treated as a lien on the property, subject to the same collection fees, interest, and foreclosure processes as standard delinquent property taxes.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill generates state and local revenue by taxing properties sold from land banks, funding cleanup efforts and general local taxes.90% confidence ✓ HousingSupports HousingBill funds land bank cleanup and provides tax exemptions for HOPE zones, directly supporting housing development and revitalization efforts.75% confidence

Sub-Topics Property Tax Mortgages Property Taxes

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in committee · Michigan · House Mar 4, 2026

HB 5661: Housing: other; MSHDA administration and operation of the MI home program act and programs and funds under that act; allow for. Amends sec. 22 of 1966 PA 346 (MCL 125.1422). TIE BAR WITH: HB 5660'26

HB 5661 amends the Michigan State Housing Development Authority Act to clarify and expand the administrative powers of the Michigan State Housing Development Authority (MSHDA) in managing the state's home loan and housing assistance programs. The bill does not create new funding or change eligibility requirements for existing programs but instead updates the legal authority under which MSHDA operates. Key provisions allow the authority to conduct housing studies, collect fees for loans and publications, salvage usable housing from demolition projects, and manage mortgage loans and foreclosures with specific flexibility for property acquisition and resale. The legislation also authorizes MSHDA to accept gifts and grants from various levels of government and to invest reserve funds in state or federal obligations. This bill is tied to HB 5660 and was introduced in March 2026, with no changes to the specific programs themselves, only to the operational framework governing the authority.

Topics ✓ HousingSupports HousingBill expands administrative powers of MSHDA to better manage housing assistance programs, strengthening housing support infrastructure without creating new funding.75% confidence

Sub-Topics Mortgages Property Development

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passed both · Michigan · House Mar 24, 2026

HB 5497: Financial institutions: mortgage brokers and lenders; prohibition on certain mortgage lending practices; modify. Amends title & secs. 1 & 2 of 1977 PA 135 (MCL 445.1601 & 445.1602).

HB 5497 prohibits Michigan mortgage lenders from denying loan applications or altering terms (like interest rates or down payments) based on neighborhood racial/ethnic characteristics or building age - except for physical condition assessments. It sets minimum mortgage loan amounts ($10,000) and home improvement loan amounts ($5,000), with annual adjustments using the Consumer Price Index starting in 2028. Lenders must provide written reasons for denials and individually evaluate each application based on risk factors. The bill directly affects banks, credit unions, and mortgage lenders operating in Michigan, aiming to prevent discriminatory lending practices under the state’s mortgage law.

Topics ✓ HousingSupports HousingProhibits racial/ethnic discrimination in mortgage lending, directly preventing housing discrimination per topic indicators.95% confidence

Sub-Topics Mortgages

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passed both · Michigan · House Jul 2, 2026

HB 5152: Civil procedure: foreclosure; distribution of proceeds from mortgage foreclosure auctions; modify. Amends sec. 3208 of 1961 PA 236 (MCL 600.3208) & adds secs. 3214 & 3222. TIE BAR WITH: HB 5153'25

HB 5152 modifies Michigan's foreclosure process by requiring sellers to provide a specific "notice of rights" when selling a home after a foreclosure notice is filed but before the sale auction. This notice must inform sellers they are waiving three key rights: the right to reclaim the property by paying off the mortgage during the redemption period, the right to remain in the home during that period, and the right to receive any surplus funds if the home sells for more than the mortgage balance. The bill also mandates that if a foreclosure sale is canceled, the canceling party must record this notice with the county register of deeds within 30 days. These changes directly affect homeowners facing foreclosure who sell their property before the auction and buyers purchasing such properties.

Topics ✗ HousingOpposes HousingBill requires notice waiving homeowner rights to reclaim property during redemption or receive surplus funds, weakening foreclosure protections and property rights.85% confidence

Sub-Topics Mortgages

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