Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in 1971 PA 227. Amends sec. 1 of 1971 PA 227 (MCL 445.111). TIE BAR WITH: HB 6177'26

Summary

The bill amends Section 1 of the 1971 Public Act 227 (MCL 445.111) to combine several existing licensing requirements for mortgage brokers and lenders into a single, streamlined framework and makes related conforming changes. It would affect mortgage brokers, lenders, and the state agencies that oversee their licensing by simplifying the regulatory structure. The measure is currently referred to committee.

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