Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the occupational code. Amends secs. 2501, 2503 & 2603 of 1980 PA 299 (MCL 339.2501 et seq.). TIE BAR WITH: HB 6177'26

Summary

The bill combines existing licensing statutes for residential mortgage brokers and lenders into a single set of rules within the occupational code. It updates sections 2501, 2503, and 2603 of the 1980 Public Act 299 and makes related conforming changes. The goal is to simplify compliance and create consistent oversight for mortgage professionals.

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