Researcher: GM Page 1 3/24/25
OLR Bill Analysis
sSB 1257
AN ACT CONCERNING CONSUMER CREDIT AND COMMERCIAL
FINANCING.
TABLE OF CONTENTS:
SUMMARY
§§ 1-5 & 14 — SURETY BOND CANCELLATIONS
Requires all surety bond cancellations to be done electronically for bonds issued to certain
banking department regulated entities
§§ 6-11 — SURETY BOND UPDATES
Requires certain banking licensees to update their surety bonds when they change their legal
names instead of when they change their office names or addresses
§§ 12 & 17-19 — FINANCE ACTIVITY REQUIRING LICENSURE
Expands what constitutes sales finance company, small loan, and mortgage servicing activity
requiring licensure to when someone receives any payments (including fees) in connection with
certain contracts or loans as applicable and makes a similar expansion for education loan
servicing licensees and registrants
§§ 13 & 14 — MORTGAGE LENDER REGISTRATION ON NMLS
Requires licensed mortgage lenders to register on NMLS as “exempt mortgage servicer
registrants” before acting as mortgage servicers and authorizes the banking commissioner to
suspend, revoke, or refuse to renew these registrations
§§ 15 & 19 — SERVICING PRIVATE STUDENT EDUCATION LOANS
Extends private student education loan servicing requirements to any person servicing them
instead of just private student education loan servicers
§ 16 — ENFORCEMENT OVER REGISTRATIONS
Extends existing enforcement law so that the banking commissioner may suspend, revoke, or
refuse to renew registrations issued by him
§ 20 — REGISTRATIONS FOR MORTGAGE LICENS E SPONSORS
Creates a registration timeline and fee requirements for exempt registrants that sponsor the
licensing of a mortgage loan originator or a loan processor or underwriter
§§ 21-23 — COMMERCIAL FINANCING REGISTRATION AND
ENFORCEMENT
Increases the base renewal fee for commercial financing registrants from $500 to $1,000 and
specifies that the banking department may consider certain misconduct by registrants’
employees and agents against registrants
§ 24 — PRIVATE EDUCATION LENDER AND PRIVATE EDUCATION
LOAN CREDITOR REGISTRATION AND ENFORCEME NT 2025SB-01257-R000181-BA.DOCX
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Codifies the $900 fee amounts for private education lender and private education loan creditor
registrations and authorizes the banking commissioner to bar violators from engaging in any
banking activity for up to 10 years instead of just from acting as these lenders or creditors
§ 25 — SHARED APPRECIATION AGREEMENT DISCLOSU RES
Establishes written disclosure requirements for mortgage lenders offering to make residential
loans in which the lender receives an interest in the appreciated value of the property
§§ 26-29 — ADDITIONAL TECHNICAL CHANGES
Makes several technical changes in different banking laws
SUMMARY
This bill makes assorted changes to the state’s banking laws that
principally affect licensees and registrants involved with, among other
things, mortgages, private student education loans, and commercial
financing.
EFFECTIVE DATE: October 1, 2025, unless otherwise specified
below.
§§ 1-5 & 14 — SURETY BOND CANCELLATIONS
Requires all surety bond cancellations to be done electronically for bonds issued to certain
banking department regulated entities
The bill generally requires surety companies to give all their
cancellation notices electronically for the bonds they issue to certain
banking department regulated entities. More specifically, it requires
them to give written cancellation notices through the “system” (i.e. the
Nationwide Multistate Licensing System and Registry (NMLS) (see § 28
below)).
The bill applies to bonds issued to the following banking department
licensees and others it regulates:
1. mortgage lenders, mortgage correspondent lenders, and
mortgage brokers, and specific entities and individuals exempt
from licensing as such (e.g., federally insured banks and credit
unions (and certain subsidiaries)) (see CGS §§ 36a-492(a) & 36a-
487(a) & (b));
2. mortgage loan originators (see CGS § 36a-492(a));
3. money transmitters (see CGS §§ 36a-597 & 36a-602(a)); 2025SB-01257-R000181-BA.DOCX
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4. debt adjusters (see CGS §§ 36a-656 & 36a-664(a));
5. debt negotiators (see CGS § 36a-671d(a));
6. consumer collection agencies (see CGS § 36a-802(a)); and
7. mortgage servicers, including certain mortgage lenders acting as
servicers but exempt from licensing as such.
The bill’s requirement replaces current law, which (1) only allows
surety companies to send cancellations electronically if the bond was
issued electronically on NMLS and (2) otherwise requires them to send
cancellations by certified mail.
By law, cancellations must be sent at least 30 days before the
cancellation date to the bond’s principal and the banking commissioner.
§§ 6-11 — SURETY BOND UPDATES
Requires certain banking licensees to update their surety bonds when they change their
legal names instead of when they change their office names or addresses
The bill modifies the circumstances for when certain licensees must
update their surety bonds with the banking commissioner. It specifically
applies to the following:
1. mortgage lenders, mortgage correspondent lenders, mortgage
brokers, and lead generators (see CGS § 36a-490(b)(1));
2. money transmitters (see CGS § 36a-598(d)(1));
3. debt adjusters (see CGS §§ 36a-656 & 36a-658(a));
4. debt negotiators (see CGS § 36a-671(b));
5. mortgage servicers (see CGS § 36a-719a(a)); and
6. consumer collection agencies.
Under existing law, a licensee may change the name or office address
on its most recent filing with NMLS if, at least 30 calendar days
beforehand, it files the change with the system and the commissioner 2025SB-01257-R000181-BA.DOCX
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does not disapprove of the change in writing or request more
information within the 30-day period.
Generally, under current law, the licensee must also give the
commissioner a bond rider or endorsement, or addendum, as
applicable, that reflects the new name or address. The bill instead only
requires licensees to give the commissioner a bond rider to their surety
bonds when they change their legal names. However, similar to current
law, it allows debt negotiator licensees to give an endorsement or
addendum to their surety bonds instead of a bond rider in those
circumstances.
§§ 12 & 17-19 — FINANCE ACTIVITY REQUIRING LICENSURE
Expands what constitutes sales finance company, small loan, and mortgage servicing
activity requiring licensure to when someone receives any payments (including fees) in
connection with certain contracts or loans as applicable and makes a similar expansion for
education loan servicing licensees and registrants
The bill expands the types of activities that require someone to obtain
certain licenses and registrations under the state’s banking laws.
Existing law generally prohibits anyone from engaging in the business
of a sales finance company or acting as a mortgage servicer without a
license (see CGS §§ 36a-536 & 36a-718). Similarly, certain small loan
related actions are prohibited without a license.
Under the bill, sales finance company, small loan, and mortgage
servicing activity requiring licensure includes when someone receives
any payments (including fees) in connection with, respectively, a retail
installment contract or installment loan contract, small loan, and
residential mortgage loan, instead of just principal and interest
payments under one.
The bill also makes a similar expansion affecting certain education
loan servicers. Existing law generally prohibits anyone from acting as a
private student loan servicer without a banking department license or
acting as a federal student loan servicer unless they are registered as
such on NMLS (see CGS §§ 36a-847 & 36a-847a). The bill changes what
is considered “servicing” for these servicers to encompass receiving any
payment, rather than just scheduled periodic ones, and maintaining 2025SB-01257-R000181-BA.DOCX
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account records for and communicating with a borrower about his or
her loan during any period that payments are not required, instead of
periods outside of scheduled periodic payments.
Lastly, the bill makes technical and conforming changes.
§§ 13 & 14 — MORTGAGE LENDER REGISTRATIO N ON NMLS
Requires licensed mortgage lenders to register on NMLS as “exempt mortgage servicer
registrants” before acting as mortgage servicers and authorizes the banking commissioner
to suspend, revoke, or refuse to renew these registrations
Existing law exempts certain mortgage lender licensees from having
to obtain a separate license to act as a mortgage servicer if they meet
certain conditions. The bill generally carries this exemption forward but
further requires these lenders to register on NMLS as “exempt mortgage
servicer registrants” before acting as mortgage servicers. It relatedly
authorizes the banking commissioner to suspend, revoke, or refuse to
renew these registrations.
Generally, under current law, any person licensed as a mortgage
lender in Connecticut is exempt from mortgage servicer licensure if (1)
they act as a mortgage servicer from their lender licensed main office or
branch office, (2) they satisfy certain bonding requirements, and (3) their
lender license is not suspended. The bill modifies the third condition by
requiring that their NMLS-associated registration is not suspended.
Lastly, the bill makes technical and conforming changes.
Exempt Mortgage Servicer Registration Conditions and Oversight
Under the bill, exempt mortgage servicer registrations must
generally expire at the close of business on December 31 of the year in
which they were approved, unless renewed. However, any registration
approved on or after November 1 must expire at the close of business
on December 31 of the following year. Renewal applications must be
filed on NMLS between November 1 and December 31 of the year in
which the registration expires.
The bill requires each applicant for an initial registration or renewal
to meet the supplemental mortgage servicer surety bond, fidelity bond, 2025SB-01257-R000181-BA.DOCX
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and errors and omissions coverage requirements that apply under
existing law to mortgage lenders exempt from mortgage servicer
licensure. It further requires applicants to pay to NMLS any required
fees or charges and makes all fees nonrefundable.
The bill also expressly authorizes the banking commissioner to
suspend, revoke, or refuse to renew any exempt mortgage servicer
registration or take any other action under his licensing and registration
enforcement authority (see § 16 below). He may only exercise this
authority if he finds that the registrant no longer meets the requirements
for registration or if the registrant or any control person, trustee,
employee, or agent of the registrant has (1) made any material
misstatement in an application; (2) committed any fraud or
misappropriated funds; or (3) violated any Connecticut banking statute,
banking department regulation or order, or any other law applicable to
the conduct of the registrant’s business.
Additionally, the bill extends to exempt mortgage servicer registrants
automatic suspension provisions that apply to mortgage servicer
licensees under existing law. It specifically requires the commissioner to
automatically suspend the registration when an exempt registrant’s
fidelity bond or errors and omissions coverage expires or is no longer in
effect. However, no automatic suspension or inactivation may occur if,
before the bond or coverage cancellation or expiration takes effect, the
(1) principal submits a letter of reinstatement of the bond or coverage,
or a new bond or coverage, or (2) exempt registrant has ceased business
in Connecticut and surrendered its registration. After a registration has
been automatically suspended, the commissioner must (1) give the
registrant notice of the automatic suspension, pending proceedings for
revocation or refusal to renew, and an opportunity for a hearing in
accordance with state banking law, and (2) require the registrant to take
or refrain from taking any action the commissioner deems necessary.
§§ 15 & 19 — SERVICING PRIVATE STUDENT E DUCATION LOANS
Extends private student education loan servicing requirements to any person servicing
them instead of just private student education loan servicers
The bill extends existing law’s requirements on private student 2025SB-01257-R000181-BA.DOCX
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education loan servicers so that they also apply to private education
lenders, private education loan creditors, and any other person
servicing a private student education loan. Generally, under these
requirements, the entities must give certain information to borrowers
and cosigners about (1) borrower and cosigner rights and
responsibilities, (2) cosigner release eligibility, and (3) parameters for
the cosigner release application process.
The bill adds a new requirement that any person that makes or
extends a private student education loan on or after October 1, 2025,
provide options for cosigner release on the loan if certain criteria are
met, including the borrower making 12 consecutive on-time payments
or the cosigner becoming totally and permanently disabled.
Additionally, the bill modifies which entities are subject to
constraints that currently only apply to private student education loan
servicers. These constraints include prohibitions on (1) any restriction
that permanently prevents a borrower or cosigner from qualifying for a
cosigner release and (2) any requirement that a borrower make more
than 12 consecutive timely payments to be eligible for a cosigner release.
The bill specifically prohibits, on and after October 1, 2025, any person
that makes, extends, or owns at least one private student education loan,
including any private education lender or private education loan
creditor, from directly or indirectly taking these actions.
The bill likewise, on and after October 1, 2025, applies to any person
that makes, extends, or owns at least one private student education loan
current law’s prohibitions on (1) refusing to release the cosigner from
his or her obligation to repay the loan when notified that the cosigner is
totally and permanently disabled and (2) requiring that a new cosigner
be added to the loan after the original cosigner has been released.
Current law applies these prohibitions unless the loan agreement’s
terms expressly prohibit them. The bill does not carry that exception
forward (i.e. it prohibits these actions regardless of the loan agreement’s
terms).
Lastly, the bill makes minor, technical, and conforming changes. 2025SB-01257-R000181-BA.DOCX
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Application
Under the bill, “servicing” generally is:
1. receiving any payments from a student loan borrower on a
student education loan;
2. applying these payments to a loan;
3. maintaining account records for and communicating with the
borrower about the loan during the period when no payments
are required;
4. interacting with a borrower to service a loan, including by
helping a borrower prevent loan defaults; or
5. performing other administrative services on a loan.
By law, a “private student education loan” is any student education
loan that is not (1) made under the William D. Ford Federal Direct Loan
Program or purchased by the U.S. Department of Education and (2)
owned by the U.S. Department of Education.
Under existing law, a “private student education loan servicer” is any
person, wherever located, responsible for servicing private student
education loans to student loan borrowers who live in Connecticut.
A “private education lender” is any person engaged in the business
of making or extending private education loans. A “private education
loan creditor” is any person to whom a private education loan is sold or
assigned or who otherwise acquires one. By law, private education
lenders do not include banks or out-of-state banks; Connecticut, federal,
or out-of-state credit unions; the banks’ or credit unions’ wholly owned
subsidiaries; operating subsidiaries with an owner that is wholly owned
by the same bank or credit union; or the Connecticut Higher Education
Supplemental Loan Authority (CHESLA). Certain banks and these
credit unions are similarly exempt from the definition of private
education loan creditors, as are consumer collection agencies; private
student loan servicers; and local, state, and federal departments and 2025SB-01257-R000181-BA.DOCX
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agencies. Relatedly, a “private education loan” is credit (1) extended
expressly, in whole or part, for a borrower’s postsecondary educational
expenses, regardless of whether it is provided by the educational
institution a student attends, and (2) not made, insured, or guaranteed
under certain federal laws (i.e. not a federally issued education loan). It
excludes loans secured by real property (CGS § 36a-856(a)(5)).
By law, unchanged by the bill, the above requirements do not apply
to banks, out-of-state banks with a physical presence in Connecticut,
and credit unions; their wholly owned subsidiaries; operating
subsidiaries where the owners are wholly owned by the bank or credit
union; or CHESLA.
§ 16 — ENFORCEMENT OVER REGISTRATIONS
Extends existing enforcement law so that the banking commissioner may suspend, revoke,
or refuse to renew registrations issued by him
Existing law authorizes the banking commissioner to suspend,
revoke, or refuse to renew any license he issues under state law
according to notice and hearing procedures. This law also generally
establishes processes for him to follow when these licenses are
surrendered or expire as well as when applications for them are
withdrawn. The bill extends this collective enforcement authority to
registrations issued by the commissioner. By law, these provisions do
not apply to the state’s securities laws.
§ 20 — REGISTRATIONS FOR MORTGAGE LICENS E SPONSORS
Creates a registration timeline and fee requirements for exempt registrants that sponsor
the licensing of a mortgage loan originator or a loan processor or underwriter
Existing law exempts several different entities from being licensed as
a mortgage lender, mortgage correspondent lender, or mortgage broker
(e.g., federally insured banks and credit unions, any corporation that
makes residential mortgage loans exclusively for the benefit of its
employees or agents, and people who make secondary mortgage loans
to immediate family members) (see CGS § 36a-487(a) to (c)).
By law, any person claiming this exemption may register on NMLS
as an exempt registrant to sponsor a mortgage loan originator or a loan
processor or underwriter. The bill creates a timeline and fee 2025SB-01257-R000181-BA.DOCX
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requirements for those who register.
Under the bill, these registrations must generally expire at the close
of business on December 31 of the year in which they were approved,
unless renewed. However, any registration approved on or after
November 1 must expire at the close of business on December 31 of the
following year. Renewal applications must be filed on NMLS between
November 1 and December 31 of the year in which the registration
expires.
The bill requires each applicant for an initial registration or renewal
to pay to NMLS any required fees or charges and makes all fees
nonrefundable.
§§ 21-23 — COMMERCIAL FINANCING REGISTRA TION AND
ENFORCEMENT
Increases the base renewal fee for commercial financing registrants from $500 to $1,000
and specifies that the banking department may consider certain misconduct by
registrants’ employees and agents against registrants
The bill makes several registration and enforcement changes
affecting certain lenders offering specific types of commercial financing.
By law, “commercial financing” is a sales-based financing transaction of
$250,000 or less, the proceeds of which are not primarily intended for
personal, family, or household purposes (CGS § 36a-861).
The bill also makes a technical change.
EFFECTIVE DATE: July 1, 2025, except the technical change is
effective upon passage.
Registration
Under existing law, commercial financing providers and brokers
must register with the banking commissioner as he prescribes (CGS §§
36a-861 & 36a-870). In practice, they currently register with NMLS. The
bill aligns their renewal registration fee amount with their existing
initial registration fee amount (i.e. increasing the former from $500 to
$1,000). The bill also requires initial and renewal registrants to pay their
registration fees to NMLS along with any other required fees or charges.
It also specifies that these fees are nonrefundable. 2025SB-01257-R000181-BA.DOCX
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The bill also modifies the expiration dates of these registrations.
Under current law, they must be renewed by September 15 annually or
they expire. The bill instead requires renewal applications to be filed
with the commissioner between November 1 and December 31 of the
year in which the registration expires. It generally expires registrations
at the close of business on December 31 of the year when the registration
was approved, unless it was renewed or approved on or after November
1, in which case the registration expires at the close of business on
December 31 of the following year.
Enforcement
The bill makes several minor changes to current provisions on the
enforcement powers of the banking commissioner against commercial
financing registrants. Among other things, it specifies that the
commissioner may suspend, revoke, or refuse to renew any commercial
financing registration or take other enforcement actions authorized
under existing law if he finds that the registrant or any control person,
trustee, employee, or agent of the registrant has taken certain actions.
Specifically, this applies if they (1) made any material misstatement in
the registration application; (2) committed any fraud or
misappropriated funds; or (3) violated any statute, regulation, or order
related to them or any other law applicable to the conduct of the
registrant’s business. (Existing law already prohibits anyone from
making untrue statements of material fact or engaging in fraud in
connection with any activity under the commissioner’s jurisdiction
(CGS § 36a-53b).)
2025SB-01257-R000181-BA.DOCX
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§ 24 — PRIVATE EDUCATION LENDER AND PRIVATE EDUCATION
LOAN CREDITOR REGIST RATION AND ENFORCEME NT
Codifies the $900 fee amounts for private education lender and private education loan
creditor registrations and authorizes the banking commissioner to bar violators from
engaging in any banking activity for up to 10 years instead of just from acting as these
lenders or creditors
The bill makes several registration and enforcement changes to the
law governing private education lenders and private education loan
creditors.
Registration
Under current law, private education lenders and private education
loan creditors generally must register with the banking commissioner
and pay a fee as he prescribes, which may include registering using
NMLS and paying any of its fees. In practice, these lenders and creditors
currently register with NMLS. The bill codifies the $900 registration and
renewal fee amounts they currently must pay NMLS. The bill also
specifically requires initial and renewal registrants to pay their
registration fees to NMLS along with any other required fees or charges.
It specifies that these fees are nonrefundable.
The bill also modifies the expiration dates of these annual
registrations. It sets the same registration renewal deadlines as for
various other licenses and registrations, including commercial financing
registrations (see §§ 21-23 above).
Enforcement
Under existing law, anyone who violates the law governing private
education lenders and private education loan creditors and causes a
consumer financial harm because of it may be barred from acting in
certain capacities for up to 10 years by the banking commissioner.
Under current law, the commissioner may bar them from acting as a
private education lender or a private education loan creditor or as a
stockholder, officer, director, partner, or other owner or employee of a
lender or creditor. The bill instead authorizes him to bar violators from
engaging in any activity requiring a license or registration under
Connecticut’s banking laws or acting as a stockholder, officer, director, 2025SB-01257-R000181-BA.DOCX
Researcher: GM Page 13 3/24/25
partner, or other owner or employee of an entity requiring a state
banking license or registration.
Current law does not explicitly provide a process for the
commissioner to handle these bars. The bill requires he provide these
people notice and an opportunity for a hearing before barring them.
Specifically, he must send notice by registered or certified mail, return
receipt requested, or by any express delivery carrier that provides a
dated delivery receipt, or by personal delivery according to existing law.
The notice is deemed received on the earlier of the date of actual receipt
or seven days after mailing or sending, and in the case of an email notice,
it is deemed received according to existing law.
Under the bill, the notice must include a:
1. statement of the time, place, and nature of the hearing;
2. statement of the legal authority and jurisdiction under which the
hearing is to be held;
3. reference to the particular statutes, regulations, rules, or orders
allegedly violated;
4. short and plain statement of the matter; and
5. statement indicating that the person may file a written request
for a hearing within 14 days of receiving the notice.
If a hearing is requested within this time frame, the commissioner
must hold a hearing upon the matters asserted in the notice unless the
person fails to appear. After the hearing, the commissioner must
determine whether to issue an order barring the person and the order’s
term. He may also issue an order if the person does not request a hearing
within the deadline or fails to appear at the hearing. Regardless, the bill
prohibits issuing any order unless it is done according to the Uniform
Administrative Procedure Act.
The bill also makes similar changes as it does for commercial
financing enforcement (see §§ 21-23 above) but applies them against 2025SB-01257-R000181-BA.DOCX
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private education lender and private education loan creditor registrants
and any control person, trustee, employee, or agent of them.
§ 25 — SHARED APPREC IATION AGREEMENT DIS CLOSURES
Establishes written disclosure requirements for mortgage lenders offering to make
residential loans in which the lender receives an interest in the appreciated value of the
property
The bill requires mortgage lenders that offer to make a shared
appreciation agreement to give certain written disclosures within three
business days after a prospective borrower applies for the agreement.
By law, a “mortgage lender” is generally someone in the business of
making residential mortgage loans. A “shared appreciation agreement”
is a nonrecourse obligation in which money is advanced to a consumer
in exchange for an equity interest in a dwelling, residential real estate,
or a future obligation to repay when a certain event happens, such as a
transfer of ownership, maturity date, borrower’s death, or other
circumstance outlined and explicitly agreed to (CGS § 36a-485).
The bill’s required disclosures include, among other things, an
informational statement, the agreement and transaction details, the
method of determining the property’s fair market value, the interest
charged, and repayment examples.
Written Disclosures
The bill requires the following statement to be given clearly,
conspicuously, and in at least 12-point font:
“You are not required to complete this agreement merely
because you have received these disclosures or have
signed a loan application. If you obtain this loan, the
lender will have a mortgage and shared interest in your
home. You could lose your home, and any money you
have put into it, if you do not meet your obligations under
the loan. You may wish to consult an attorney.”
The following must also be disclosed:
1. financial information relevant to the proposed shared 2025SB-01257-R000181-BA.DOCX
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appreciation agreement, including whether repayment
terminates it, such as through the mortgage lender receiving
some or all of the sale proceeds for the dwelling or residential real
estate (collectively “property” for the purposes of this bill
analysis) that is the subject of the agreement;
2. agreement and transaction details, including the mortgage
lender’s contact information, transaction amount, cash sum to be
paid to the prospective borrower, starting value for appreciation
sharing, term of the agreement, and property’s estimated current
fair market value;
3. the method of determining the property’s current fair market
value and its final value when the agreement is terminated;
4. the interest charged, if applicable;
5. the limit of the mortgage lender’s share of appreciation or equity
in the property; and
6. an advisory that the prospective borrower consult his or her tax
advisor on the agreement’s potential tax implications.
Additionally, repayment examples for the proposed shared
appreciation agreement must be given based on at least the following:
1. settlement of the agreement after 5, 10, 15, and 30 years, in each
case up to the maximum term of the agreement;
2. no change in the property’s market value; and
3. changes in its market value (a) over the agreement’s term at a 10%
total depreciation rate, 3.5% total appreciation rate, and 5.5%
total appreciation rate, and (b) reflecting the actual average
appreciation or depreciation rate for all dwellings or residential
real estate in Connecticut during the period equal to the term of
the agreement and that occurred immediately before it.
Lastly, information and corresponding calculations for the proposed 2025SB-01257-R000181-BA.DOCX
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agreement must be given on the following, if applicable:
1. calculated appreciation amount;
2. appreciation-based charge;
3. accrued or charged interest;
4. principal amount to be repaid;
5. mortgage lender’s total calculated share of appreciation or equity
and any limit to that share; and
6. for each of the repayment scenarios specified above, the actual
amount of money to be paid by the prospective borrower to the
lender, including any unconditional administrative fees or
reimbursement of protective advances that must be paid at the
time of the agreement’s settlement, and the total cost to the
borrower expressed as an annual percentage rate to allow the
prospective borrower to compare, under each repayment
scenario, the cost at the time of the agreement’s settlement with
the cost of a traditional mortgage loan.
§§ 26-29 — ADDITIONAL TECHNICAL CHANGES
Makes several technical changes in different banking laws
The bill makes several technical changes in different banking laws.
COMMITTEE ACTION
Banking Committee
Joint Favorable
Yea 12 Nay 0 (03/06/2025)