SB 1134 SD 1 HD 1

RELATING TO REVERSE MORTGAGES

By Senator(s) MIZUGUCHI (BR)

Companion Bill: HB 1072

Subjects: Governor

Keywords: BANKS AND BANKING, DEPT. OF COMMERCE AND CONSUMER AFFAIRS, HOUSING, MORTGAGES, REAL PROPERTY

Report Title: Reverse Mortgages

Description: Requires lenders to refer borrowers to a HUD-approved housing counseling agency for counseling prior to accepting an application for a reverse mortgage loan. Makes failure to comply with requirement an unfair or deceptive act or practice. Exempts certain loans from counseling requirement. (SD1)

 1-26-99        S Introduced and passed First Reading                      
 1-27-99        S Referred to CPN                                          
 2- 8-99        S Bill scheduled to be heard by CPN on 02-11-99 at
                  9:00 a.m. in conference room 016
 2-11-99        S The measure is deferred until 02-18-99 at 9:00 a.m.         
                  in conference room 016.
 2-18-99        S The measure is deferred.                                 
 2-19-99        S Notice of public decision making by CPN on 02-24-99         
                  at 9:00 a.m. in conference room 016.
 2-24-99        S The measure is deferred until 02-26-99 at 9:00 a.m.         
                  in conference room 016.
 2-26-99        S The measure is deferred until 03-02-99 at 9:00 a.m.         
                  in conference room 016.
 3- 2-99        S The committee on CPN recommends that the measure be         
                  PASSED, WITH AMENDMENTS.
 3- 2-99        S The votes in CPN were as follows: 7 Ayes: Senator(s)        
                  Kanno, Taniguchi, Hanabusa, Ihara, Inouye, Matsuura;        
                  Ayes with reservations: Senator(s) Slom; none Noes:         
                  Senator(s) ; and 1 Excused: Senator(s) Bunda
 3- 5-99        S Reported from CPN (Stand. Com. Rep. No. 580) with
                  recommendation of passage on Second Reading, as
                  amended (SD 1) and placement on the calendar for
                  Third Reading
 3- 5-99        S Report adopted; Passed Second Reading, as amended
                  (SD 1)
 3- 5-99        S 48 hours notice                                          
 3- 9-99        S Passed Third Reading, as amended (SD 1). Ayes, 23.          
                  Noes, 2 (Anderson, Slom).  Excused, none ().
 3- 9-99        S Transmitted to House                                     
 3- 9-99        H Received from Senate (Sen. Com. No. 260)                 
 3-11-99        H Introduced and passed First Reading                      
 3-11-99        H Referred to the committee on CPC, referral sheet 26      
 3-16-99        H Bill scheduled to be heard by CPC on Thursday,
                  03-18-99 at 6:00 P.M. in House conference room 325.
 3-18-99        H The committee(s) recommends that the measure be
                  deferred.
 3-22-99        H Bill scheduled for decision making on Monday,
                  03-22-99 at 6:00 P.M. in House conference room 325.
 3-22-99        H The committee on CPC recommends that the measure be         
                  PASSED, WITH AMENDMENTS.
 3-22-99        H The votes in CPC were as follows:9 Ayes: Rep.(s)
                  Menor, Lee, Garcia, Herkes, Kaho`ohalahala,
                  Yoshinaga, Rath, Thielen, Whalen; Ayes with
                  reservations: Rep.(s) ; none Noes: Rep.(s) ; and 6
                  Excused: Rep.(s) Cachola, Chang, Hiraki, Morita,
                  Takumi, Halford
 4- 1-99        H Reported from the committee on CPC (Stand. Com. Rep.        
                  No. 1531) as amended in (HD 1), recommending passage        
                  on Second Reading and placement on the calendar for         
                  Third Reading
 4- 1-99        H Passed Second Reading as amended in (HD 1); placed
                  on the calendar for Third Reading  with
                  Representative(s) none voting no and
                  Representative(s) Garcia, Hiraki, Menor, Okamura,
                  Saiki, Say, Souki, Takai, Yoshinaga excused
 4- 5-99        H Passed Third Reading as amended in (HD 1)                
 4- 5-99        H The vote was as follows:  47 aye(s), with none
                  voting no and Representative(s) Menor, Meyer,
                  Okamura, Saiki excused
 4- 5-99        H Transmitted to Senate                                    
 4- 6-99        S Received from House (Hse. Com. No. 424)                  
 4- 6-99        S Deferred until 04-07-99                                  
 4- 7-99        S Senate disagrees with House amendments.                  
 4- 7-99        H Received notice of disagreement (Sen. Com. No. 443)      
 4-19-99        H House conferees appointed:  Menor Chairman; Garcia,         
                  Whalen
 4-19-99        S Senate Conferees appointed: Kanno, Taniguchi,
                  (Co-)Chair; Ihara
 4-19-99        H Received notice of Senate conferees (Sen. Com. No.
                  744)
 4-20-99        S Received notice of appointment of House conferees
                  (Hse. Com. No. 683)