57015908985467FE87258AEC0078C7CD Hearing Summary CLICS/CLICS2024A/commsumm.nsf PUBLICBILL SUMMARY For HB24-1011SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGYDate Mar 26, 2024 Location Old Supreme Court HB24-1011 - Amended, referred to the Committee of the Whole - Consent Calendar Attachment Tag File Name Attachment H http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/2F513105B9F2...$File/Attachment H.pdf?OpenElement Attachment H.pdf Attachment I http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/3501F8601C63...$File/Attachment I.pdf?OpenElement Attachment I.pdf 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
