AN ACT relating to mortgage loans.
     Amend KRS 360.100 to change the definition of "high-cost home loan" to include a loan whose terms exceed either of two thresholds; define "total points and fees payable by the consumer at or before the loan closing," "points and fees," and "total loan amount"; provide that a lender cannot refinance, replace, or consolidate an existing home loan if the primary tangible benefit of the refinancing is an interest rate lower than the interest rate on debts satisfied or refinanced in connection with the home loan and it will take more than four years for the borrower to recoup the costs of the points and fees and other closing costs; provide that a person who successfully enforces the provisions of this section to be entitled to reasonable attorney's fee as determined by the court.

     Mar 1-introduced in House
     Mar 2-to Banking and Insurance (H)