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Senate Bill 0478


Senate Bill 0478

ARCHIVE (2003)

Latest Information

 

DIGEST OF SB478 (Updated March 4, 2003 2:16 PM - DI 84)


Predatory lending. Restricts certain lending acts and practices. Establishes the mortgage fraud unit under the attorney general to investigate and bring actions against a lender who engages in mortgage fraud. Preempts regulation of covered acts and practices by political subdivisions. Increases mortgage recording fees. Allocates increased revenue to the Indiana housing finance authority, attorney general, and county recorders. Allows the securities commissioner to enter orders of recission, restitution, and disgorgement, including interest at the rate of 8% to loan brokers.
    Current Status:
     In Committee - 2nd House
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