MCL - Act 660 of 2002


Act 660 of 2002

AN ACT to prohibit certain lending practices; to require disclosure of certain information for home loans; to prescribe certain duties and obligations of the lender in a home loan transaction; to prescribe the powers and duties of certain state agencies and officials; and to prescribe penalties and provide for remedies.

History: 2002, Act 660, Imd. Eff. Dec. 23, 2002

The People of the State of Michigan enact:
Document Type Description
Section 445.1631 Section Short title.
Section 445.1632 Section Definitions.
Section 445.1633 Section Compliance with state and federal laws.
Section 445.1634 Section Person making mortgage loan; prohibited conduct.
Section 445.1635 Section Mortgage loan with term less than 5 years; payment schedule.
Section 445.1636 Section Federal special information booklet; document to be prepared by department.
Section 445.1637 Section Repealed. 2016, Act 44, Eff. June 13, 2016.
Section 445.1638 Section Examinations and investigations by commissioner.
Section 445.1639 Section Violation of act.
Section 445.1640 Section Action by attorney general or prosecuting attorney.
Section 445.1641 Section Unintentional and bona fide error.
Section 445.1642 Section Enforcement not limited.
Section 445.1643 Section Model programs for financial education.
Section 445.1644 Section Municipal actions; statutory conflict; preemption; severability.
Section 445.1645 Section Standards; uniformity; preemption.