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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

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