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AI Summary: This bill proposes to impose restrictions on the mandatory amount of property insurance that mortgage lenders can require. It aims to set specific limits on the insurance coverage that borrowers must obtain as a condition for obtaining a mortgage loan. This limitation is intended to offer protection for homeowners by preventing excessive insurance requirements from lenders.
Latest Action: Prefiled.
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Actions (3):
2024-02-29 : Prefiled.
2024-02-29 : Under the rules, provisionally referred to the Committee on Commerce.
2024-03-11 : Read by title, under the rules, referred to the Committee on Commerce.
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