[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Engrossed ] | [ Enrolled ] |
| [ Senate Amendment 001 ] | [ Senate Amendment 002 ] |
92_HB2439ham001
LRB9205889REdvam01
1 AMENDMENT TO HOUSE BILL 2439
2 AMENDMENT NO. . Amend House Bill 2439 on page 1,
3 line 29, after "institution", by inserting the following:
4 ", who have been victimized by unfair lending practices and
5 seek refinancing of an existing home loan,"; and
6 on page 2, immediately below line 22, by inserting the
7 following:
8 "(2) Upon application by a financial institution that is
9 refinancing a home loan of a borrower that has been
10 victimized by unfair lending practices, the State Treasurer
11 may pledge a portion of the Fund to the financial
12 institution. The determination of whether a borrower has
13 been victimized by unfair lending practices shall be made in
14 the sole discretion of the State Treasurer and shall not be
15 construed to grant to any person a private right of action
16 under any law, nor shall the determination, or application by
17 the financial institution, be used as evidence in any
18 judicial or administrative proceeding."; and
19 on page 2, line 23, by replacing "(2)" with "(3)"; and
20 on page 3, immediately below line 1, by inserting the
21 following:
22 "(4) The State Treasurer shall, in his or her sole
-2- LRB9205889REdvam01
1 discretion, establish guidelines for pledges made from the
2 Fund under this Section. Priority may be given to borrowers
3 seeking to refinance loans that, in the sole opinion of the
4 State Treasurer, may have been subject to unfair lending
5 practices."; and
6 on page 3, line 2, by replacing "(3)" with "(5)"; and
7 on page 3, line 5, by replacing "(4)" with "(6)".