KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

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HB5497 • 2026

Financial institutions: mortgage brokers and lenders; prohibition on certain mortgage lending practices; modify. Amends title & secs. 1 & 2 of 1977 PA 135 (MCL 445.1601 & 445.1602).

Financial institutions: mortgage brokers and lenders; prohibition on certain mortgage lending practices; modify. Amends title & secs. 1 & 2 of 1977 PA 135 (MCL 445.1601 & 445.1602).

Active

The official status still shows this bill as active or still awaiting another formal step.

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Official status
REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. Michigan Legislature

    REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION

Official Summary Text

Financial institutions: mortgage brokers and lenders; prohibition on certain mortgage lending practices; modify. Amends title & secs. 1 & 2 of 1977 PA 135 (MCL 445.1601 & 445.1602).