08RS HB230
LRC Seal

HB230

08RS

WWW Version

The hyperlink to a bill draft that precedes a summary contains the most recent version (Introduced/GA/Enacted) of the bill. If the session has ended, the hyperlink contains the latest version of the bill at the time of sine die adjournment. Note that the summary pertains to the bill as introduced, which is often different from the most recent version.

Includes opposite chamber sponsors where requested by primary sponsors of substantially similar bills in both chambers and jointly approved by the Committee on Committees of both chambers. Opposite chamber sponsors are represented in italics.


HB 230 (BR 94) - J. Glenn, T. Riner

     AN ACT relating to home loans.
     Amend KRS 360.100 to prohibit a lender from making a high-cost home loan with a prepayment penalty unless the lender offers the borrower a loan without a prepayment penalty; require the lender to provide timely notice to the borrower of any material change in the terms of the high-cost home loan prior to the closing of the loan; require the lender to timely inform the borrower if any fees payable by the borrower to the lender increase by more than ten percent or $100, whichever is greater; amend KRS 286.8-270 to provide that a mortgage loan broker who acts as an agent for a person attempting to obtain a loan shall be considered to have created an agency relationship with the borrower, shall act in the borrower's best interest, and shall not compromise the borrower's right or interest in favor of another's right or interest.

     Jan 9-introduced in House
     Jan 11-to Banking & Insurance (H)


Legislature Home Page | Record Front Page