2010 Senate Bill 1525 / Public Act 356

Establish new mortgage fraud provisions and penalties

Introduced in the Senate

Sept. 28, 2010

Introduced by Sen. Randy Richardville (R-17)

To increase the amount of the surety bonds mortgage loan originators must provide to the state insurance commission.

Referred to the Committee on Banking and Financial Institutions

Nov. 10, 2010

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Substitute offered

The substitute passed by voice vote

Passed in the Senate 38 to 0 (details)

To increase the amount of the surety bonds mortgage loan originators must provide to the state insurance commission.

Received in the House

Nov. 10, 2010

Referred to the Committee on New Economy and Quality of Life

Dec. 15, 2010

Passed in the House 92 to 3 (details)

Signed by Gov. Jennifer Granholm

Dec. 22, 2010