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HB 6195

Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the banking code of 1999. Amends sec. 1106 of 1999 PA 276 (MCL 487.11106). TIE BAR WITH: HB 6177'26

2025-2026 Regular Session Introduced by Parker Fairbairn and 1 co-sponsor

HB 6195 consolidates Michigan’s residential mortgage licensing statutes into a single, unified framework within the Banking Code for brokers and lenders.

bill electronically reproduced 07/03/2026
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Bill Summary · HB 6195

Overview

HB 6195 (2025-2026) from Michigan aims to consolidate and harmonize licensing statutes related to residential mortgage lending and brokerage. It makes conforming changes to the Banking Code of 1999 and ties HB 6195 to HB 6177/’26. The bill is sponsored by Rep. Parker Fairbairn with Rep. Mark Tisdel as a co-sponsor and was introduced and referred to the House Committee on Finance on July 3, 2026.

Purpose and intent

  • Streamline the regulatory framework for mortgage brokers and lenders by consolidating existing licensing statutes governing residential mortgages.
  • Align related provisions within the Banking Code of 1999 to improve consistency, enforcement, and administrative efficiency for financial institutions involved in residential mortgage transactions.
  • Create a unified licensing approach to reduce duplicative requirements and potential confusion for licensees and state regulators.

Key provisions and changes (substantive content)

  • Consolidation of licensing statutes: The bill consolidates statutes governing mortgage brokers and mortgage lenders engaged in residential mortgages. This is intended to create a single, coherent licensing regime rather than multiple, fragmented statutes.
  • Conforming changes to the Banking Code of 1999: The bill enacts amendments to ensure that the Banking Code mirrors the consolidated licensing framework, including cross-references, definitions, and administration provisions.
  • Tie-bar with HB 6177’26: The measure is paired with HB 6177’26, indicating that passage of HB 6195 is intended to be part of a broader package of banking and mortgage-related reforms. The tie bar suggests linked effective dates or joint consideration.

Note: The provided bill text summary does not include specific numeric thresholds, fee schedules, examination powers, bond requirements, or enforcement penalties. The emphasis is on consolidation and alignment within the banking regulatory structure.

Who is affected

  • Mortgage brokers and mortgage lenders operating in Michigan who deal with residential mortgage transactions.
  • State regulatory bodies overseeing financial institutions and mortgage activities (under the Banking Code of 1999), which would implement the consolidated licensing regime.
  • Potentially, any financial institutions or professionals that currently navigate multiple licensing regimes for residential mortgages, as they would shift to a unified framework.

Procedural and timeline aspects

  • Introduction and first reading: July 3, 2026.
  • Referral: Committee on Finance (House).
  • Bill status history indicates its progression as an introduced measure within the 2025-2026 session, with format notes about amendments (bold new text, strikeouts for deletions, color-coded amendments by origin).
  • Tie Bar: HB 6177’26 is linked, meaning actions on HB 6195 may be contingent on or coordinated with the companion bill.

Potential impacts and considerations

  • Administrative efficiency: A consolidated licensing regime could reduce compliance burdens and duplicative filings for licensees.
  • Clarity and consistency: Aligning housing-related licensing within the Banking Code may improve regulator oversight and consistency for exams, renewals, and enforcement.
  • Compliance costs: Depending on the final provisions (fees, exam standards, and ongoing reporting), licensees may experience changes in ongoing costs or renewal timelines.
  • Economic effects: A streamlined regulatory environment could affect the availability and cost of residential mortgage credit by impacting the ease of licensing and supervision of lenders and brokers.

Summary

HB 6195 seeks to consolidate and harmonize Michigan’s licensing statutes for residential mortgage brokers and lenders, with conforming changes to the Banking Code of 1999 and in coordination with HB 6177’26. The bill targets regulatory coherence, improved administration, and potentially reduced burdens for licensees under a unified framework. Further detail on specific fee structures, examination powers, and enforcement provisions would be clarified in the full text and any subsequent amendments.

Compiled from official sources — confirm details with the bill’s official record.

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