SENATE CONCURRENT RESOLUTION NO. 46
(By Senators McCabe, Kessler, Minard, Rowe, Unger, Anderson,
Edgell, Bowman, Snyder, Ross, Sharpe, Mitchell, Love, Hunter,
Burnette, Fanning, Helmick, Plymale, Prezioso, Bailey, Wooton,
Jackson, Craigo and Minear)
Requesting the Joint Committee on Government and Finance conduct an
interim study of the issues and impact of mortgage activity in
West Virginia.
Whereas, Mortgage activity has become a complicated policy
issue confronting both government and consumers in the State of
West Virginia; and
Whereas, The issues of federal preemption and the interplay
between federal and state lending regulations are complex and may
often be inconsistent; and
Whereas, A number of West Virginia homeowners may be at risk
for losing their homes and compromising their financial security
due to certain mortgage practices; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to conduct an interim study of the issues and impact of
mortgage activity in West Virginia; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2003, on its findings, conclusions and recommendations, together with drafts
of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.