An Act amending Title 7 (Banks and Banking) of the Pennsylvania Consolidated Statutes, in mortgage loan industry licensing and consumer protection, further providing for definitions, for exceptions to license requirements and for general requirements.

HB 1882 updates Pennsylvania's rules for mortgage lenders and strengthens consumer protections in the mortgage industry. It revises licensing requirements for mortgage loan originators, clarifies exemptions from needing a license, and adds specific safeguards for borrowers. The bill directly affects mortgage lenders operating in Pennsylvania and consumers applying for mortgage loans by changing how lenders must be licensed and what protections must be provided. These changes aim to streamline licensing while ensuring borrowers receive clearer information and fairer treatment during the mortgage process.