Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the consumer mortgage protection act. Amends sec. 2 of 2002 PA 660 (MCL 445.1632). TIE BAR WITH: HB 6177'26

Summary

The measure would combine existing licensing statutes for residential mortgage brokers and lenders into a single framework and amend section 2 of the 2002 Public Act 660. It also makes conforming changes to the Consumer Mortgage Protection Act. The changes affect mortgage professionals and Michigan consumers by simplifying licensing and aligning consumer‑protection rules.

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