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Minutes for SB242 - Committee on Financial Institutions and Insurance

Short Title

Consolidating certain mortgage lending provisions, removing duplicate provisions from the uniform consumer credit code and incorporating such provisions into the Kansas mortgage business act.

Minutes Content for Wed, Feb 17, 2021

Chairman Longbine opened the hearing on SB242.  Eileen Ma, Assistant Revisor, ROS, provided a brief of the bill. (Attachment 3)  She answered a question from Senator Hilderbrand.

 

Melissa Wangemann, General Counsel, OSBC, appeared in person and spoke in support of the bill.   (Attachment 4)  She answered questions from Senators Pittman and Olson and said she would get back to the committee with answers to their questions, as well as provide some additional information regarding Senator Hilderbrand's question to Eileen Ma, and another question from Senator Fagg.

Chairman Longbine pointed to written-only proponent testimony:

Luke Bell, Government Relations and Public Affairs Manager, Midwest Region for Zillow Group  (Attachment 5)

A. W. Pickel, III, Mortgage Banker  (Attachment 6)

 

Kelly VanZwoll, Staff Attorney and Government Relations for Kansas Bankers Association (KBA) provided oral opponent testimony.  She also provided language for a substitute bill she hoped would be considered at the appropriate time.   (Attachment 7)   Ms. VanZwoll answered a question from Senator Fagg.

Chairman Longbine pointed to the written-only opponent testimony:

Shawn P. Mitchell, President and CEO, Community Bankers Association of Kansas    (Attachment 8)

 

There being no other questions or comments, and no additional proponent, opponent, or neutral testimony submitted, the Chair closed the hearing on SB242.  He reminded members the committee would be hearing SB245 tomorrow, and that next week, hearings are scheduled for Tuesday, Wednesday, and Thursday.

Adjournment was at 10:22 am.  The next scheduled meeting is Thursday, February 18, 2021, at 9:30 am in room 546-South of the Capitol.