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Committee sends home‑buyer cost bill to interim study after stakeholder talks
Summary
Representative Loubet presented HB 503, a proposal aimed at reducing closing costs (title insurance and mortgage fees). After stakeholder conversations, the sponsor asked the committee to refer the bill to interim study; the committee agreed by unanimous voice vote.
Representative Anthony Loubet presented House Bill 503, described as an effort to reduce costs for consumers buying homes by addressing title‑insurance and mortgage closing fees. The sponsor said stakeholders raised issues and requested a broader discussion rather than immediate committee action.
"We're trying to have a global discussion on that," Representative Loubet said, asking the committee to refer the bill to interim study to continue stakeholder conversations. Representative Riches asked whether the measure involved banks, credit unions or attorneys; Loubet said it did not in this iteration.
Chair and committee members had no public testimonies to weigh; the committee voted by voice to send HB 503 to interim study and the motion was declared unanimous. The sponsor and members said they look forward to a broader, cross‑stakeholder discussion during the interim.
