HB 223

Did not advance

Commercial Law - Mortgage Loans - Verification of Ability to Repay

Sponsor: Pam Queen (District 14)Committee: Economic MattersSubject: Financial InstitutionsStatus: Special Order until later today (Senator Hayes) Adopted (as of Nov 13, 2024)

What this bill does

Official synopsis

Exempting mortgage loans made by community development financial institutions from certain requirements to verify the borrower's ability to repay.

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Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.

Testimony (18)

MGA witness list

FAV 12FavorableFWA 3Favorable with amendmentsUNF 3Unfavorable

Position	Witness	Organization	Testimony
FAV	Richards, Evanlobbyist	Maryland Bankers Association	Written (PDF)
FAV	Richards, Evanlobbyist	Maryland Bankers Association	Written (PDF)
FAV	Enten, Robert	Maryland Multi-Housing Assoc	Oral
FAV	Enten, Robert	Maryland Multi-Housing Assoc	Oral
FAV	May, Lisalobbyist	Maryland REALTORS	Written (PDF)
FAV	McKay, Brendan	McKay Mortgage Company	Oral
FAV	Enten, robert	md bankers assoc	Oral
FAV	Delegate Queen, Delegate Queenlegislator	Individual	Oral
FAV	Delegate Queen, Delegate Queenlegislator	Individual	Oral
FAV	Mauer, William	Individual	Position only
FAV	Murray, Rorylobbyist	Individual	Written (PDF)
FAV	Queen , Pamela	Individual	Written (PDF)
UNF	Wilpone-Welborn, Kira	Consumer Protection Division of the Maryland Office of the Attorney General	Written (PDF)
UNF	Wilpone-Welborn, Kira	Consumer Protection Division of the Maryland Office of the Attorney General	Written (PDF)
UNF	Fink, Nelda	Individual	Position only
FWA	McKay, Brendan	McKay Mortgage Company	Oral + Written (PDF)
FWA	RASMUSSEN, DENNISlobbyist	The Rasmussen Group LLC	Written (PDF)
FWA	Queen , Pamela	Individual	Written (PDF)

Organizations on record

Consumer Protection Division of the Maryland Office of the Attorney GeneralUNF 2

Maryland Bankers AssociationFAV 2

Maryland Multi-Housing AssocFAV 2

Maryland REALTORSFAV 1

McKay Mortgage CompanyFAV 1FWA 1

md bankers assocFAV 1

The Rasmussen Group LLCFWA 1

Registered lobbyists who testified

FAVRichards, EvanMaryland Bankers AssociationRegistered for: Maryland Bankers Association

FAVMay, LisaMaryland REALTORSRegistered for: Maryland REALTORS; Maryland Association of Realtors

FAVMurray, RoryRegistered for: Alliance to Prevent Legionnaire's Disease; American Council of Engineering Companies/MD; Association of Independent Maryland and D.C. Schools; Chesapeake Watershed Restoration Professionals; Kaiser Permanente; Lightstar Renewables…

FWARASMUSSEN, DENNISThe Rasmussen Group LLCRegistered for: Baltimore Children's Museum, Inc. dba Port Discovery Children's Museum; Chesapeake Renewable Energy, LLC; Chesapeake Ventures Development, LLC; Greater Ocean City Maryland Chamber of Commerce, Inc.; HarborRock Holdings, LLC; Maryland Mortgage Bankers & Brokers Association (MMBBA)…