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Minnesota Legislature

Office of the Revisor of Statutes

Legislative Session number- 85

Bill Name: HF1004

HF 1004

SECOND ENGROSSMENT

Predatory mortgage lending practices
prohibited.

Section 1: "Fully indexed rate" definition provided.

Section 2:
General language modified.

Section 3: Financed interest, points, finance
charges, fees and other charges language modified.

Section 4: Disclosure
requirements for certain residential mortgage originators language
modified.

Section 5: Compliance language added.

Section 6: Mortgage broker
duties of agency language provided.

JAJ 3/28/7