SENATE AMENDED
PRIOR PRINTER'S NOS. 1742, 1821
PRINTER'S NO. 2323
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
1588
Session of
2021
INTRODUCED BY MERCURI, ROTHMAN, BROOKS, DRISCOLL, GREINER,
HENNESSEY, HILL-EVANS, JOZWIAK, MIZGORSKI, NEILSON, ROWE,
RYAN, STAMBAUGH, GUZMAN AND SILVIS, JUNE 9, 2021
SENATOR DISANTO, BANKING AND INSURANCE, IN SENATE, AS AMENDED,
OCTOBER 27, 2021
AN ACT
Amending Title 7 (Banks and Banking) of the Pennsylvania
Consolidated Statutes, in mortgage loan industry licensing
and consumer protection, further providing for definitions,
for license requirements, for exceptions to license
requirements, for general requirements, for powers conferred
on certain licensees engaged in the mortgage loan business,
for mortgage loan business prohibitions, for application for
license, for prelicensing and continuing education, for
license fees, for licensee requirements, for suspension,
revocation or refusal and for mortgage servicers.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The definitions of "branch," "installment sales
contract," "mortgage loan correspondent," "mortgage originator,"
"qualifying individual" and "wholesale table funder" in section
6102 of Title 7 of the Pennsylvania Consolidated Statutes are
amended and the section is amended by adding a definition to
read:
§ 6102. Definitions.
The following words and phrases when used in this chapter
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20