Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the Michigan business tax act. Amends sec. 111 of 2007 PA 36 (MCL 208.1111) TIE BAR WITH: HB 6177'26

Summary

The bill consolidates existing licensing statutes that govern residential mortgage brokers and lenders, amends a specific section of the 2007 Public Act, and makes matching changes to the Michigan Business Tax Act. It is intended to simplify regulation for mortgage professionals and keep tax law consistent with the new licensing framework. The measure currently sits in committee with no actions taken yet.

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