Bill
HB 6186
Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in 1966 PA 326. Amends sec. 1c of 1966 PA 326 (MCL 438.31c). TIE BAR WITH: HB 6177'26
2025-2026 Regular Session
Introduced by Bill Schuette and 1 co-sponsor
HB 6186 would unify Michigan's mortgage licensing rules, cap rates at 11% for certain loans, limit prepayment penalties, and regulate deposit-account security for residential finan
bill electronically reproduced 07/03/2026