Hawaii House Bill 2386 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 24 2024 - 25% progression, died in committee
Action: 2024-01-26 - Referred to CPC, FIN, referral sheet 3
Pending: House Consumer Protection & Commerce Committee
Text: Latest bill text (Introduced) [HTML]

Clarifies the eligibility to recover from the Mortgage Loan Recovery Fund to include consumers aggrieved by the conduct of a mortgage loan originator licensee. Allows for the annual use of $50,000 of the fund for training the Division of Financial Institutions and its attorneys relating to the residential mortgage industry, providing training to licensees, developing educational materials for licensees in the area relating to licensure under this chapter, and educating the public in the area relating to residential mortgage loans. Increases the restitution available to consumers from the Mortgage Loan Recovery Fund to the amount of $150,000, bringing consistency to sections 454F-41 and 454F-42, HRS.

Relating To The Mortgage Loan Recovery Fund.

Rep. Scott Saiki [D]

Date	Chamber	Action
2024-01-26	House	Referred to CPC, FIN, referral sheet 3
2024-01-24	House	Introduced and Pass First Reading.
2024-01-22	House	Pending introduction.

SB3075 (Same As) 2024-01-26 - Referred to CPN, WAM.

Type	Source
Summary	https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=2386&year=2024
Text	https://www.capitol.hawaii.gov/sessions/session2024/bills/HB2386_.HTM