summary
Introduced
03/01/2019
03/01/2019
In Committee
03/08/2019
03/08/2019
Crossed Over
Passed
Dead
05/03/2019
05/03/2019
Introduced Session
2019 Regular Session
Bill Summary
Revising the definition of the term "mortgage loan" to remove a condition that residential loans be primarily for personal, family, or household use, etc.
AI Summary
This bill revises the definition of the term "mortgage loan" in Florida statutes to remove the condition that residential loans must be primarily for personal, family, or household use. It now includes any residential loan secured by a mortgage or deed of trust on a dwelling, as well as loans on commercial real property or improved real property with five or more dwelling units, as long as the borrower is an individual or the lender is a noninstitutional investor. The bill takes effect on July 1, 2019.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Died in Banking and Insurance (on 05/03/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2019/1632 |
| BillText | https://www.flsenate.gov/Session/Bill/2019/1632/BillText/Filed/HTML |
| Bill | https://www.flsenate.gov/Session/Bill/2019/1632/BillText/Filed/PDF |
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