LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION

April 21, 2009

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB3784 by Gattis (Relating to the prohibition on charging a prepayment penalty for a home loan.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Finance Code to prohibit a lender from making a home loan containing a provision for a prepayment penalty.

Based on the analysis of the Department of Savings and Mortgage Lending, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

450 Department of Savings and Mortgage Lending

LBB Staff:

JOB, JRO, ACa