state_legiscan_drain · MI
Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the Michigan business tax act. TIE BAR WITH: HB 6177'26
July 3, 2026
Summary
If enacted, this bill would consolidate multiple licensing statutes for mortgage brokers and lenders into a single regulatory framework under Michigan law, streamlining application, renewal, and oversight processes. It would also make conforming changes to the Michigan Business Tax Act to align with the consolidated licensing structure. This primarily affects banks, independent mortgage banks, brokers, and credit unions operating in Michigan.
AI-generated summary · Jul 5, 2026. Verify with your compliance counsel before acting.
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Source: https://legislature.mi.gov/Bills/Bill?ObjectName=2026-HB-6184
Common questions
- What does "Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the Michigan business tax act. TIE BAR WITH: HB 6177'26" cover?
- If enacted, this bill would consolidate multiple licensing statutes for mortgage brokers and lenders into a single regulatory framework under Michigan…
- When was it published?
- It was published on July 3, 2026.
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