Predatory Lending - Mortgage Lending

2006

Passed:

HB06-1161 Regulate Mortgage Brokers
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This legislation requires registration and criminal background checks for anyone who applies to become a mortgage broker. It also requires the person to post a bond. The Division of Real Estate will have oversight of mortgage brokers.

HB06-1323 Mortgage Fraud Crime
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This bill created a $75,000 penalty for mortgage fraud. It gave the attorney general jurisdiction over mortgage fraud as well.