Mississippi Legislature
2006 Regular Session

House Bill 681

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Bill Text

History of Actions

Amendments

Background

Title

Description: Mortgage companies; allow to collect fee from borrower to lock in loan rate for more than 60 days.

Bill Text: [Introduced] [Committee Substitute] [Passed House] [Sent to Governor]

History of Actions:

1 01/11 (H) Referred To Banking and Financial Services
2 01/24 (H) Title Suff Do Pass Comm Sub
3 02/01 (H) Committee Substitute Adopted
4 02/01 (H) Passed
5 02/03 (H) Transmitted To Senate
6 02/06 (S) Referred To Business and Financial Institutions
7 02/28 (S) Title Suff Do Pass As Amended
8 03/01 (S) Amended
9 03/01 (S) Passed As Amended
10 03/02 (S) Motion to Reconsider Entered
11 03/06 (S) Reconsidered
12 03/06 (S) Amended
13 03/06 (S) Passed As Amended
14 03/08 (S) Returned For Concurrence
15 03/14 (H) Concurred in Amend From Senate
16 03/17 (H) Enrolled Bill Signed
17 03/17 (S) Enrolled Bill Signed
18 03/23 Approved by Governor

Amendments:

Adopted [S] Committee Amendment No 1   
Adopted [S] Amendment No 1 to Committee Amendment No 1   
   
[S] Amendment Report for House Bill No. 681   

Background Information:

Effective dateJuly 1, 2006
DispositionLaw
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority
Chapter number451

House Committee:

Senate Committee:

Principal Author: Baker (74th)

Code Section: A 081-0018-0027

Title: AN ACT TO AMEND SECTION 81-18-27, MISSISSIPPI CODE OF 1972, TO ALLOW LICENSED OR REGISTERED MORTGAGE COMPANIES TO COLLECT FROM A BORROWER A FEE TO BE PAID TO A LENDER TO LOCK IN AN INTEREST RATE AND/OR A CERTAIN NUMBER OF POINTS ON A MORTGAGE LOAN; TO CREATE A NEW CODE SECTION TO PROVIDE A MAXIMUM AMOUNT THAT MAY BE COLLECTED AS A LOCK-IN FEE AND TO PRESCRIBE THE CONTENTS OF A LOCK-IN FEE AGREEMENT; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 04/07/06 at 08:00.

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