HB264 (2015) Detail

Prohibiting mortgage lenders from considering child support obligations as part of the mortgage application process.


HB 264 – AS INTRODUCED

2015 SESSION

15-0396

05/09

HOUSE BILL 264

AN ACT prohibiting mortgage lenders from considering child support obligations as part of the mortgage application process.

SPONSORS: Rep. Oligny, Rock 34; Rep. DeLemus, Straf 11; Rep. Itse, Rock 10; Rep. Hoell, Merr 23; Rep. Hill, Merr 3; Rep. Ingbretson, Graf 15; Sen. Avard, Dist 12

COMMITTEE: Commerce and Consumer Affairs

ANALYSIS

This bill prohibits mortgage lenders from considering child support obligations as part of the mortgage application process.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

15-0396

05/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Fifteen

AN ACT prohibiting mortgage lenders from considering child support obligations as part of the mortgage application process.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 New Paragraph; Mortgage Bankers and Brokers; Lending Practices; Consideration Child Support. Amend RSA 397-A:14 by inserting after paragraph IV the following new paragraph:

V. No mortgage banker, mortgage broker, or mortgage originator shall consider, as part of a mortgage application, a borrower’s child support obligation in calculating the loan amount or otherwise determining the borrower’s ability to repay the loan.

2 Effective Date. This act shall take effect January 1, 2016.

Links

HB264 at GenCourtMobile

Action Dates

Date Body Type

Bill Text Revisions

HB264 Revision: 27727 Date: March 27, 2015, midnight

Docket