SB 884

RELATING TO FINANCING OF AFFORDABLE HOUSING

By Senator(s) TAM

Keywords: BANKS AND BANKING, CREDIT UNIONS, FINANCIAL INSTITUTIONS, FINANCIAL SERVICES LOAN COMPANIES, MORTGAGES, SAVINGS AND LOAN ASSOCIATIONS

Report Title: Refinancing Loans

Description: Requires financial institutions to re-finance or restructure a mortgage loan without requalification when the prevailing interest rate is at least 1.5% below the mortgagee's current interest rate.

 1-22-99        S Introduced and passed First Reading                      
 1-25-99        S Referred to 1. GOH 2. CPN                                
 1-29-99        S Bill scheduled to be heard by GOH on 02-04-99 at
                  1:30 p.m. in conference room 224
 2- 4-99        S The measure is deferred until 02-11-99 at 1:30 p.m.         
                  in conference room 224.
 2-11-99        S The committee on GOH recommends that the measure be         
                  PASSED, UNAMENDED.
 2-11-99        S The votes in GOH were as follows: 5 Ayes: Senator(s)        
                  Tam, Levin; Ayes with reservations: Senator(s)
                  Matsuura, Chun, Hanabusa; none Noes: Senator(s) ;
                  and 4 Excused: Senator(s) Matsunaga, Sakamoto,
                  Tanaka, Anderson
 2-16-99        S Reported from GOH (Stand. Com. Rep. No. 99) with
                  recommendation of passage on Second Reading and
                  referral to CPN
 2-16-99        S Report adopted; Passed Second Reading and referred
                  to CPN.
 1-19-00        S Carried over to 2000 Regular Session.