Financial institutions: mortgage brokers and lenders; distribution of certain fund proceeds; revise. Amend secs. 8 & 32 of 1987 PA 173 (MCL 445.1658 & 445.1682). TIE BAR WITH: HB 6177’26
Key claim: Michigan HB 6201 proposes to amend the 1987 Mortgage Brokers, Lenders, and Servicers Licensing Act to revise how certain fund proceeds are distributed, tied to HB 6177.
Abstract
(HB6201 · 103rd Legislature) Financial institutions: mortgage brokers and lenders; distribution of certain fund proceeds; revise. Amend secs. 8 & 32 of 1987 PA 173 (MCL 445.1658 & 445.1682). TIE BAR WITH: HB 6177’26 Latest action (2026-07-14): Bill Electronically Reproduced 07/03/2026
Why this matters
HB6201 is a supporting piece of the larger residential mortgage licensing package (HB6177/HB6178), adjusting how fund proceeds under the existing 1987 licensing act are distributed as the framework is consolidated. For mortgage brokers, lenders, and regulators, this affects the financial plumbing of the licensing regime rather than introducing new substantive obligations.