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Bill > HB2316
PA HB2316
PA HB2316In mortgage loan industry licensing and consumer protection, further providing for general requirements.
summary
Introduced
01/31/2022
01/31/2022
In Committee
01/31/2022
01/31/2022
Crossed Over
Passed
Dead
11/30/2022
11/30/2022
Introduced Session
2021-2022 Regular Session
Bill Summary
Amending Title 7 (Banks and Banking) of the Pennsylvania Consolidated Statutes, in mortgage loan industry licensing and consumer protection, further providing for general requirements.
AI Summary
This bill amends the Pennsylvania Consolidated Statutes to require licensed mortgage lenders who accept applications for reverse mortgage loans to provide in-person, face-to-face housing counseling to applicants from a U.S. Department of Housing and Urban Development-approved counseling agency in Pennsylvania. If applicants are unable or choose not to have an in-person visit, the counseling can be conducted over the telephone or through video teleconference. After the counseling, the lender must issue a certificate containing specific information about the counseling services provided. The bill specifies that this new requirement will take effect 60 days after enactment.
Committee Categories
Business and Industry
Sponsors (25)
Morgan Cephas (D)*,
Danilo Burgos (D),
Joe Ciresi (D),
Martell Covington (D),
Jim Cox (R),
Tina Davis (D),
Dave Delloso (D),
Elizabeth Fiedler (D),
Bob Freeman (D),
John Galloway (D),
Manny Guzman (D),
Liz Hanbidge (D),
Joe Hohenstein (D),
Kristine Howard (D),
Malcolm Kenyatta (D),
Emily Kinkead (D),
Stephen Kinsey (D),
Rick Krajewski (D),
Maureen Madden (D),
Napoleon Nelson (D),
Darisha Parker (D),
Ben Sanchez (D),
Melissa Shusterman (D),
Jared Solomon (D),
Mike Sturla (D),
Last Action
Referred to COMMERCE (on 01/31/2022)
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2021&sind=0&body=H&type=B&bn=2316 | 02/01/2022 |
| Bill | https://www.legis.state.pa.us/cfdocs/legis/PN/Public/btCheck.cfm?txtType=PDF&sessYr=2021&sessInd=0&billBody=H&billTyp=B&billNbr=2316&pn=2694 | 02/01/2022 |
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