SB729 - Mortgages may be insured in an amount not to exceed 103% of fair market value of the property

SB 0729

Mortgages may be insured in an amount not to exceed 103% of fair market value of the property

Sponsor:	Yeckel
LR Number:	3034S.02T	Fiscal Note:	3034-02
Committee:	Financial and Governmental Organization
Last Action:	06/18/02 - Signed by Governor		Journal page:
Title:	SCS SB 729
Effective Date:	August 28, 2002

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Current Bill Summary

SCS/SB 729 - The act authorizes mortgage insurers to insure a mortgage in an amount not exceeding 103% of the fair market value of the property at the time of the loan if secured by a first lien. Current law allows insurance only in amount not exceeding 100%.
JIM ERTLE