Act No. 29

(H.171)

Home mortgage protection for Vermonters

This act incorporates the requirements of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE), including requirements for the licensing of mortgage loan originators; and requires notice to the department of banking, insurance, securities, and health care administration (BISHCA) when foreclosure proceedings are commenced in a Vermont court for the purpose of coordinating judicial proceedings with the department's mortgage assistance program.

Date Signed by Governor: May 21, 2009

Effective Date: July 1, 2009, except that Sec. 2 (required notice of foreclosure of BISHCA) shall take effect 30 days after passage. (Passage was on May 21, 2009, the date on which the governor signed the bill.)