Memorializes congress to give "qualified mortgage" status to balloon loans held in portfolio by a bank and urges and requests the Consumer Financial Protection Bureau to expand the definition of "rural" for such mortgages
An Act Concerning Mortgage Servicers, Connecticut Financial Institutions, Consumer Credit Licenses, The Foreclosure Mediation Program, Minor Revisions To The Banking Statutes, The Modernization Of Corporation Law And Reverse Mortgage Transactions.
Senate Substitute for HB 2247 by Committee on Financial Institutions and Insurance - Modifying certain terms, definitions, deadlines and provisions contained in the uniform consumer credit code and transferring mortgage provisions from the uniform consumer credit code to the Kansas mortgage business act.