HB 6194·MI·house
Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the deferred presentment service transaction act. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: HB 6177'26
In CommitteeFiled Jul 3, 2026
Sponsor: Steve Frisbie (R)
Latest Action
introduced by Representative Rep. Steve Frisbie
Jul 3, 2026
Summary
HB 6194 merges existing licensing statutes for residential mortgage brokers and lenders into a single framework and makes related changes to the Deferred Presentment Service Transaction Act. It amends section 2 of the 2005 PA 244 (MCL 487.2122). The changes aim to simplify regulation for financial institutions and improve consistency across related laws.
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