Bill No.:         HB0091                                             Drafter: JWL

LSO No.:       14LSO-0357                                     Effective Date: 7/1/2014

Enrolled Act No.:    HEA0017

Chapter No.:                        CH0032

Prime Sponsor:       Representative Stubson

Catch Title:              Real estate loans-limitations.

Subject:                     Repeals mortgage loan-to-value and term limitations.

Summary/Major Elements:

· Current law restricts real estate loans to 90% of the appraised value of the property securing the loan (95% if covered by mortgage insurance) and to a term of 30 years.

· This act repeals the limits on loan-to-value and term.