SB 390-1_ Filed 02/16/2007, 11:35
Adopted 2/19/2007

COMMITTEE REPORT

MADAM PRESIDENT:

    The Senate Committee on Corrections, Criminal, and Civil Matters, to which was referred Senate Bill No. 390, has had the same under consideration and begs leave to report the same back to the Senate with the recommendation that said bill be AMENDED as follows:

SOURCE: Page 1, line 5; (07)CR039001.1. -->     Page 1, line 5, delete "Definitions" and insert " Application".
    Page 1, between lines 5 and 6, begin a new paragraph and insert:
    " Sec. 1. This article does not apply to the following:
        (1) A person organized or chartered under the laws of this state, any other state, or the United States that relate to a bank, a trust company, a savings association, a savings bank, a credit union, or an industrial loan and investment company.
        (2) The Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or a Federal Home Loan Bank.
        (3) A department or agency of the United States or of Indiana.
        (4) A person that is servicing or enforcing a loan that it owns.
        (5) A person that is servicing a loan:
            (A) for a person described in subdivisions (1) through (4) of this section; or
            (B)
insured by the Department of Housing and Urban Development or guaranteed by the Veterans Administration.
         (6) An attorney licensed to practice law in Indiana who is representing a mortgagor.
     Chapter 2. Definitions".
    Page 2, line 31, delete "Chapter 2." and insert " Chapter 3.".
    Page 2, line 32, delete "(a)".
    Page 2, line 33, delete "authorized to".
    Page 2, line 34, delete "make a sale".
    Page 2, line 35, delete "in accordance with subsections (b) and (c)".
    Page 2, delete lines 36 through 42.
    Page 3, delete lines 1 through 6.
    Page 3, line 7, delete "(2) The following" and insert " as follows in a".
    Run in page 2, line 35 through page 3, line 7.
    Page 3, line 17, delete "Chapter 3." and insert " Chapter 4.".
    Page 4, line 6, delete "Chapter 4." and insert " Chapter 5.".
    Page 6, line 10, delete "Chapter 5." and insert " Chapter 6.".
    Page 6, line 36, after "organizations" insert " certified by the Indiana housing and community development authority".
    (Reference is to SB 390 as introduced.)

and when so amended that said bill do pass.

Committee Vote: Yeas 9, Nays 0.

____________________________________

    Steele
Chairperson


CR039001/DI 106    2007