HLS 22RS-1927 ORIGINAL
2022 Regular Session
HOUSE BILL NO. 950
BY REPRESENTATIVE BOYD
FINANCIAL INSTITUTIONS: Provides relative to mortgage companies
1 AN ACT
2To enact R.S. 6:1105, relative to residential mortgage lenders; to provide for the liability of
3 residential mortgage lenders for the acts of certain persons; to provide for the scope
4 of liability; and to provide for related matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 6:1105 is hereby enacted to read as follows:
7 ยง1105. Residential mortgage lender liability to consumers for acts of employees and
8 certain others
9 A residential mortgage lender shall be liable for the damages sustained by a
10 consumer caused by any act or omission of any person engaged in residential
11 mortgage lending activity including but not limited to facilitating the closing of a
12 residential mortgage loan, executing a residential loan transaction on behalf of the
13 lender, engaging in mortgage servicing, providing services as a mortgage loan
14 originator or a registered mortgage loan originator, or acting as a mortgage broker
15 or residential mortgage broker whether such person is acting on behalf of the
16 residential mortgage lender in the employment capacity of an hourly or wage
17 employee, a salary employee, a subcontractor, or an independent contractor.
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 22RS-1927 ORIGINAL
HB NO. 950
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 950 Original 2022 Regular Session Boyd
Abstract: Provides for liability of residential mortgage lenders for damages from the acts
of persons engaged in certain activities on behalf of the lender.
Proposed law requires that residential mortgage lenders be liable for the acts or omissions
of its employees, contractors, or subcontractors, whether hourly or salary workers, when
such acts or omissions cause damage to a consumer and the acts were done while the
employee or other similar person was engaged in residential mortgage lending activity on
behalf of the residential mortgage lender.
(Adds R.S. 6:1105)
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.