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House approves mortgage‑lending bill to curb predatory practices
Summary
Second substitute HB 160, presented by Rep. Wayne Harper, creates a "high‑cost loan" category and tightens rules on prepayment penalties, points and fees, certain insurance and negative amortization; the House passed the bill 65‑0 and it will be sent to the Senate.
The Utah House approved second substitute House Bill 160, a package of mortgage‑lending reforms the sponsor described as targeting predatory lending. The bill passed on a recorded vote of 65‑0 and will be forwarded to the Senate.
Sponsor Rep. Wayne Harper told the chamber the bill addresses a range of practices he and constituents have raised in recent years, including…
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