BILL · 2007–08 SESSION · LATEST VERSION SSB 6452

SB 6452: Yield spread premiums

Requiring certain borrower disclosures of yield spread premiums.

Summary

Requires a written disclosure of the transaction costs that will be paid by the borrower if the mortgage broker receives a Yield Spread Premium (YSP) from the lender.
Requires a refund of any YSP or equivalent benefit paid between a mortgage broker and a lender to a borrower if the amount of compensation is greater than in the original good faith estimate or a subsequent disclosure.

From the Substitute House Bill Analysis 2008 (SSB 6452), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House

AN ACT Relating to requiring certain borrower disclosures of yield spread premiums;

Passed February 6, 2008

Version voted on: SSB 6452

31 Yea 17 Nay 0 Absent 1 Excused

Party	Yea	Nay	Absent	Excused
Democrat	28	4	0	0
Republican	3	13	0	1

How each member voted

Mar 13, 2008By resolution, returned to Senate Rules Committee for third reading. (SSB 6452)
Feb 7, 2008First reading, referred to Insurance, Financial Services & Consumer Protection. (SSB 6452)
Feb 6, 2008Third reading, passed; yeas, 31; nays, 17; absent, 0; excused, 1. (SSB 6452)
Feb 6, 2008Rules suspended. Placed on Third Reading. (SSB 6452)
Feb 6, 20081st substitute bill substituted. (SSB 6452)
Feb 6, 20081st substitute bill substituted.
Jan 30, 2008Placed on second reading by Rules Committee. (SSB 6452)
Jan 30, 2008Placed on second reading by Rules Committee.
Jan 28, 2008Passed to Rules Committee for second reading. (SSB 6452)
Jan 28, 2008CPH - Majority; 1st substitute bill be substituted, do pass. (SSB 6452)
Jan 28, 2008Minority; without recommendation. (SSB 6452)
Jan 28, 2008Minority; without recommendation.
Jan 28, 2008CPH - Majority; 1st substitute bill be substituted, do pass.
Jan 28, 2008Passed to Rules Committee for second reading.
Jan 16, 2008First reading, referred to Consumer Protection & Housing.

Bill numbers restart every two years, so the same number is a different bill in each session.

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SB 6452 (2017–18) Child mental health consult · Enacted · Chapter 288, Laws of 2018
SB 6452 (2015–16) Nonparent responsibilities · Did not pass · died in committee
SB 6452 (2013–14) Maintenance repair operators · Did not pass · stalled on the Senate floor
SB 6452 (2011–12) Veterans' assistance levies · Did not pass · stalled on the Senate floor
SB 6452 (2009–10) Ltd service pregnancy ctrs · Did not pass · died in committee
SB 6452 (2005–06) Retirement contribution rate · Did not pass · died in committee
SB 6452 (2003–04) Private choice primaries · Did not pass · died in committee