state_legiscan_drain · MI
Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the motor vehicle sales financing act. TIE BAR WITH: HB 6177'26
July 3, 2026
Summary
If enacted, this bill would consolidate certain licensing statutes for mortgage brokers and lenders in Michigan, reorganizing existing requirements into a single framework. It also makes conforming amendments to the Motor Vehicle Sales Financing Act to reflect the consolidation. The bill does not create new substantive obligations but streamlines regulatory structure.
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-6196
Common questions
- What does "Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the motor vehicle sales financing act. TIE BAR WITH: HB 6177'26" cover?
- If enacted, this bill would consolidate certain licensing statutes for mortgage brokers and lenders in Michigan, reorganizing existing requirements into a…
- When was it published?
- It was published on July 3, 2026.
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