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A08286 Summary:

BILL NOA08286
 
SAME ASSAME AS S04327
 
SPONSORLopez (MS)
 
COSPNSRAubry, Sweeney, Hoyt, Gordon, Englebright, Fields, Lavelle, Wright, Green, Ramos, Cahill
 
MLTSPNSRBing, Clark, Cook, Cymbrowitz, Diaz L, Fitzpatrick, Glick, Lafayette, Markey, Millman, Pheffer
 
Amd SS2402, 2405, 2405-b & 2428, Pub Auth L
 
Provides that the term "mortgage" shall also include a loan owed to a bank secured by a second lien on a fee simple or leasehold estate in real property located in the state and improved by a residential structure, whether or not insured or guaranteed by the United States of America or any agency thereof, provided, however, that such second lien secures a loan purchased by the agency and is made at the same time as a first lien securing a loan purchased by the agency.
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