Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu

57015908985467FE87258AEC0078C7CD Hearing Summary




PUBLIC
BILL SUMMARY For HB24-1011

SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGY
Date Mar 26, 2024      
Location Old Supreme Court



HB24-1011 - Amended, referred to the Committee of the Whole - Consent Calendar
03:59:17 PM  

Senators Marchman and Cutter introduced House Bill 24-1011, concerning mortgage servicers.  The bill adds certain requirements for mortgage services related to the disclosure and disbursement of funds to a borrower, and creates a new civil cause of action.  The sponsors distributed Amendment L.005 (Attachment H).
04:00:09 PM  
Mr. Bennett, representing
themself, spoke in opposition to the bill.
04:06:14 PM  
Ms. Tawnya Somauroo, representing themself, testified in support of the bill.
04:08:08 PM  
Martha Fulford, representing the Department of Law, testified in support of the bill.
04:11:28 PM  
Ms. Judi Kern, representing themself, testified in support of the bill.
04:16:14 PM  
Ms. Betty Knecht, representing the Colorado Mortgage Lenders Association, testified in a neutral position on the bill.
04:16:22 PM  
The panelists responded to questions from the committee.
04:16:23 PM  
Additional written
comments that were provided to the committee may be found in Attachment
I.
04:21:17 PM  
Senator Cutter explained
the purpose of Amendment L.005.


04:22:35 PM
 Motion Adopt amendment L.005
Moved Ginal
Seconded
Baisley
Coleman
Ginal
Liston
Sullivan
Hinrichsen
Danielson
YES: 0   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  Pass Without Objection
04:22:51 PM  
Senator Cutter made closing comments on the merits of the bill.


04:26:03 PM
 Motion Refer House Bill 24-1011, as amended, to the Committee of the Whole and with a recommendation that it be placed on the consent calendar.
Moved Ginal
Seconded
Baisley Yes
Coleman Yes
Ginal Yes
Liston Yes
Sullivan Yes
Hinrichsen Excused
Danielson Yes
Final YES: 6   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  PASS






The effective date for bills enacted without a safety clause is August 6, 2025, if the General Assembly adjourns sine die on May 7, 2025 (unless otherwise specified). Details

Request for Proposal for the COYAC Contract. Details

Our website is currently undergoing a redesign in order to provide a better experience for everyone. View the Beta site