STATEMENT TO

[First Reprint]

SENATE SUBSTITUTE FOR

SENATE, No. 777

with Senate Floor Amendments

(Proposed by Senator POU)

ADOPTED: MAY 22, 2023

      This floor amendment:

      (1)  requires a licensed mortgage broker, real estate broker, broker-salesperson, or other mortgage salesperson to, within three days of receiving a mortgage loan application, provide a mortgage loan applicant with a document informing the applicant of the opportunity to report any suspicion of a discriminatory appraisal to the Division on Civil Rights in the Department of Law and Public Safety; and

      (2)  removes the requirement that a licensed mortgage broker provide a document, upon a mortgage broker’s first interaction with the property owner, buyer, or respective agent, informing the property owner, buyer, or respective agent of the opportunity to report any suspicion of a discriminatory appraisal.