Matthew Dababneh
- Democratic
Author
Under existing law, within 30 days after a mortgage has been satisfied, the mortgagee or the assignee of the mortgagee is required to execute a certificate of the discharge of the mortgage, as specified, and to deliver, upon the request of the mortgagor or another authorized person, the original note and mortgage to the person making the request. Existing law requires a creditor to make certain disclosures to a consumer applying for a home equity loan, as defined. Existing federal law relating to lending practices specifies certain circumstances under which a lender may reduce or terminate an existing home equity line of credit. This bill would, on and after July 1, 2015, and until July 1, 2019, require a lender, upon receipt of a specified written request from a borrower and a specified payment, to close a borrower's equity line of credit, as defined, and to release or reconvey the property secured by the equity line of credit, as specified. The bill would prescribe the contents of the written request.
Chaptered by Secretary of State - Chapter 206, Statutes of 2014.
Approved by the Governor.
Enrolled and presented to the Governor at 3 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 77. Noes 1. Page 5840.).
Read third time. Passed. Ordered to the Assembly. (Ayes 35. Noes 0. Page 4252.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 1 pursuant to Assembly Rule 77.
Read second time and amended. Ordered to consent calendar.
From committee: Do pass as amended. To consent calendar. (Ayes 7. Noes 0.) (June 24).
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD.
From committee: Do pass and re-refer to Com. on JUD. (Ayes 9. Noes 0.) (June 18). Re-referred to Com. on JUD.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F.I.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 4999.)
Read second time. Ordered to third reading.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. (Ayes 11. Noes 0.) (May 5).
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
From printer. May be heard in committee March 20.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1770 | HTML |
| 02/14/14 - Introduced | |
| 03/28/14 - Amended Assembly | |
| 05/08/14 - Amended Assembly | |
| 06/09/14 - Amended Senate | |
| 06/19/14 - Amended Senate | |
| 07/01/14 - Amended Senate | |
| 08/06/14 - Enrolled | |
| 08/15/14 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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