Senate Approves Mortgage Reform Package

Committees hear from State Game officials, groups cut from budget

The Senate unanimously approved a six bill package targeting predatory and other questionable mortgage lending practices in Pennsylvania as part of its activities during the session week of March 10, according to Senator Bob Robbins (R-50).

Senate Bills 483, 484, 485, 486, 487 and 488, all approved on Tuesday, are now headed to the House of Representatives for consideration.

Senate Bill 483 would amend the Loan Interest and Protection Law of 1974 to increase the monetary cap in the Act from $50,000 to $200,000 and eliminate pre-payment penalties for loans $200,000 or less.

Senate Bill 484 would permit the Department of Banking to publicly release information on pending enforcement actions and fines levied against non-depository licensees.

Senate Bill 485 would amend the Real Estate Appraisers Certification Act regarding board membership, disciplinary measures and penalties.

Senate Bill 486 would amend the Housing Finance Agency Law to require lenders to send copies of foreclosure notices to the Pennsylvania Housing Finance Agency so that mortgage foreclosures can be monitored on a statewide basis.

Senate Bill 487 would amend the Mortgage Bankers and Brokers and Consumer Equity Protection Act to create a new licensing category for individual mortgage originators who deal directly with the consumer by soliciting, accepting or offering to accept mortgage loan applications or negotiating mortgage loan terms.

Senate Bill 488 would amend the Secondary Mortgage Loan Act to create a new licensing category for individual mortgage originators who deal directly with the consumer by soliciting, accepting or offering to accept secondary mortgage loans (home equity) applications or negotiating secondary mortgage loan terms.

On Wednesday, the Senate approved Senate Bill 1199, legislation co-sponsored by Senator Robbins that would provide for educational leaves of absence for spouses of members of the Pennsylvania National Guard or reserves.

The intent of the bill is to ensure that military members who are called to active duty and their spouses can return to school without loss of credits, scholarships, grants and/or tuition reimbursements.

"We must never forget the spouses of Pennsylvania's service members," Senator Robbins said. "They also often bear a heavy burden just keeping things together on the home front. This bill would ensure that they can return to school without be penalized after their spouse returns home."

Committee Roundup

The Senate Game and Fisheries Committee held hearings on Tuesday to examine deer management issues and receive the Pennsylvania Game Commission's annual report. The hearings gave committee members an opportunity to gather information on the effect of deer management practices and get valuable feedback from interested parties.

"These hearings gave us the chance to learn more about the efforts being made by the Game Commission to maintain a healthy, sustainable deer herd across the Commonwealth," said Senator Robbins, a member of the committee. "Managing our deer population effectively is essential so our state can continue to provide a healthy habitat for deer and abundant opportunities for sportsmen."

Pennsylvania Game Commission Executive Director Carl Roe said that Pennsylvania has the second-most hunters in the nation and leads the nation in the number of days afield with 16.86 million days. Hunting is a $3 billion-a-year industry and generates $214 million in state and local taxes. Roe also reported that Pennsylvania had its safest hunting season in state history last year.

The committee also heard varying opinions on deer management issues in the Commonwealth during testimony from representatives of the National Audubon Society and the Unified Sportsmen of Pennsylvania. Video and audio of both hearings in their entirety are available at www.pasenategop.com

Institutions and the programs that again fell victim to the Governor's budget cuts were given the chance to publicly detail their contributions to the Commonwealth during a special budget hearing held by the Senate Appropriations Committee on Tuesday.

The Committee heard testimony from more than a dozen groups that saw their state funding cut or eliminated in Governor Rendell's proposed state budget. Science in Motion, New Choices/New Options, Thaddeus Stevens College of Technology, and the McGowan Institute for Regenerative Medicine are notable examples of affected programs. Video and audio of the hearing is are available at www.pasenategop.com

Contact:

Michael Hengst
(717) 787-1322