Report Title:

Mortgage Loan

Description:

Amends the definition of mortgage loan to clarify that the mortgage brokerage statute is intended to protect consumers.

HOUSE OF REPRESENTATIVES	H.B. NO.	2264
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

A BILL FOR AN ACT

relating to mortgages.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Section 454-1, Hawaii Revised Statutes, is amended by amending the definition of "mortgage loan" to read as follows:

     ""Mortgage loan" means a loan to a consumer for personal, family, or household purposes secured by a mortgage on real property."

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval.

INTRODUCED BY:

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