Financial institutions: mortgage brokers and lenders; deposit of certain fees under the secondary mortgage loan act; revise place of deposit. Amends sec. 6a of 1981 PA 125 (MCL 493.56a). TIE BAR WITH: HB 6177'26

Summary

The bill amends the 1981 Public Act 125 to revise the location where certain fees collected from mortgage brokers and lenders are deposited under the secondary mortgage loan act. It impacts financial institutions that handle these loans by altering the statutory deposit process. The change is meant to update the handling of those fees.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share