March 5, 2003

Madam President:

Your JUDICIARY COMMITTEE, to whom has been referred

SENATE BILL 449, as amended

has had it under consideration and reports same with recommendation that it DO NOT PASS, but that

DO PASS, amended as follows:

1. On page 3, line 14, after "loan" insert "and includes a loan broker".

2. On page 9, line 12, before the period insert "in excess of two percent of the principal loan amount".

3. On page 18, between lines 1 and 2, insert the following new subsection to read:

"F. The provisions of this section apply only to home loans that were high-cost home loans at the time of origination.".

Respectfully submitted,

__________________________________

Michael S. Sanchez, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 7 For 0 Against

Yes: 7

No: 0

Excused: Komadina, Lopez, Martinez

Absent: None

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