state_legiscan_drain · MI
Financial institutions: mortgage brokers and lenders; deposit of certain fees under the secondary mortgage loan act; revise place of deposit. TIE BAR WITH: HB 6177'26
July 3, 2026
Summary
If enacted, this bill would revise the place of deposit for certain fees collected under the Secondary Mortgage Loan Act, requiring them to be deposited into a specific fund rather than the general fund. The change affects mortgage brokers and lenders operating in Michigan, potentially impacting licensing fee processing.
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-6202
Common questions
- What does "Financial institutions: mortgage brokers and lenders; deposit of certain fees under the secondary mortgage loan act; revise place of deposit. TIE BAR WITH: HB 6177'26" cover?
- If enacted, this bill would revise the place of deposit for certain fees collected under the Secondary Mortgage Loan Act, requiring them to be deposited…
- When was it published?
- It was published on July 3, 2026.
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