Bill
HB 6196
Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the motor vehicle sales financing act. Amends sec. 5 of 1950 (Ex Sess) PA 27 (MCL 492.105). TIE BAR WITH: HB 6177'26
2025-2026 Regular Session
Introduced by Parker Fairbairn and 1 co-sponsor
The bill reduces bond requirements for sales finance licensees, offering a temporary $5,000 bond for mortgage-licensed entities during a six-month transition, with standard bonds o
bill electronically reproduced 07/03/2026