California 2009-2010 Regular Session Status: Passed Senate

SB 660 — Reverse mortgages.

Last action — From Assembly without further action.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2009-2010 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law defines and regulates reverse mortgage loans. This bill would provide that a lender, broker, person, or entity that recommends the purchase of a reverse mortgage in anticipation of financial gain owes the prospective borrower a duty of honesty, good faith, and fair dealing, as defined. This bill would provide that a person or entity shall not attempt to avoid the application of these provisions, as specified.

Bill Text

Action History

  1. From Assembly without further action.

  2. From committee without further action.

  3. Joint Rule 62(a) file notice suspended. (Ayes 47. Noes 28. Page 5909.)

  4. (Heard in committee on June 28.)

  5. From committee: Be re-referred to Coms. on B. & F. and JUD. (Ayes 11. Noes 0.) Re-referred to Com. on B. & F.

  6. Re-referred to Com. on RULES.

  7. Read third time. Amended. (Ayes 48. Noes 25. Page 5810.)

  8. Placed on third reading.

  9. Action rescinded whereby the bill was read a third time, passed, and ordered to the Senate.

  10. In Assembly. Held at Desk.

  11. Returned to Assembly for further action.

  12. In Senate. To unfinished business.

  13. Read third time. Passed. (Ayes 49. Noes 29. Page 3211.) To Senate.

  14. Read third time. Amended. (Page 2672.) To third reading.

  15. Read second time. To third reading.

  16. Read second time. Amended. To second reading.

  17. (Heard in committee on July 9.)

  18. From committee: Do pass as amended. (Ayes 7. Noes 3.)

  19. Read second time. Amended. Re-referred to Com. on JUD.

  20. (Heard in committee on July 6.)

  21. From committee: Do pass as amended, but first amend, and re-refer to Com. on JUD. (Ayes 6. Noes 3.)

  22. Hearing postponed by committee.

  23. Set, first hearing. Further hearing to be set.

  24. From committee with author's amendments. Read second time. Amended. Re-referred to Com. on B. & F.

  25. To Coms. on B. & F. and JUD.

  26. In Assembly. Read first time. Held at Desk.

  27. Read third time. Passed. (Ayes 23. Noes 15. Page 1110.) To Assembly.

  28. Read second time. Amended. To third reading.

  29. From committee: Do pass as amended. (Ayes 3. Noes 2. Page 875.)

  30. Set for hearing May 12.

  31. From committee: Do pass, but first be re-referred to Com. on JUD. (Ayes 8. Noes 3. Page 805.) Re-referred to Com. on JUD.

  32. Set for hearing May 6.

  33. From committee with author's amendments. Read second time. Amended. Re-referred to Com. on B., F. & I.

  34. Hearing postponed by committee.

  35. Set for hearing April 29.

  36. Hearing postponed by committee.

  37. Set for hearing April 15.

  38. To Coms. on B., F. & I. and JUD.

  39. Read first time.

  40. From print. May be acted upon on or after March 30.

  41. Introduced. To Com. on RLS. for assignment. To print.

Sponsors

  • Wolk · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on · 4 voted No

Sponsors (1)

  • Wolk

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Do pass.

Failed 1 Yea · 5 Nay · 6 Other
Party YeaNayPresentNot Voting
Unaffiliated 1406
Republican 0100
Total 1506
% of votes cast 8%42%0%50%
How each member voted (12)
Member Party Vote
Fong — Not Voting
Evans — Not Voting
Fuentes — Not Voting
Harkey — Not Voting
Mendoza — Not Voting
Nava — Nay
Torres — Not Voting
Ruskin — Nay
Tran — Nay
Eng — Yea
Beth Gaines — Nay
Niello, Roger W. Republican Nay

Official roll call →

SB 660 Wolk Senate Third Reading By FEUER Amend By FEUER Set #1

Passed 53 Yea · 27 Nay · 11 Other
Party YeaNayPresentNot Voting
Democratic 3000
Unaffiliated 4925011
Republican 1200
Total 5327011
% of votes cast 58%30%0%12%
How each member voted (91)
Member Party Vote
Ammiano — Yea
Beall — Yea
Evans — Yea
Fuentes — Yea
Furutani — Yea
Charles — Yea
Garrick — Nay
Gilmore — Nay
Hagman — Nay
Hall — Yea
De — Yea
Leon — Yea
Fong — Yea
Bonnie — Yea
Lowenthal — Yea
Portantino — Yea
Salas — Yea
Saldana — Yea
John — Yea
A. — Yea
Perez — Yea
Carter — Yea
Chesbro — Yea
Bill — Nay
Hayashi — Yea
Hernandez — Yea
Hill — Yea
Fletcher — Nay
Audra — Nay
Blakeslee — Nay
Cook — Nay
Coto — Yea
Davis — Yea
DeVore — Nay
Huffman — Yea
Jeffries — Nay
Lieu — Yea
Logue — Nay
Mendoza — Yea
Miller — Nay
Nava — Yea
Nestande — Nay
Norby — Nay
Ruskin — Yea
Silva — Nay
Skinner — Yea
Solorio — Yea
Torlakson — Yea
Torres — Yea
Tran — Nay
Villines — Nay
Tom — Not Voting
De — Not Voting
La — Not Voting
Torre — Not Voting
V. — Not Voting
Manuel — Not Voting
Perez — Not Voting
Fuller — Not Voting
Conway — Not Voting
Bass — Not Voting
Adams — Nay
Anderson — Nay
Block — Yea
Blumenfield — Yea
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Harkey — Nay
Huber — Yea
Knight — Nay
Ma — Yea
Monning — Yea
Nielsen — Nay
Smyth — Nay
Swanson — Yea
Torrico — Yea
Eng — Yea
Feuer — Yea
Yamada — Yea
Galgiani — Yea
Gatto — Yea
Beth Gaines — Nay
Bill Berryhill — Nay
Bill Berryhill — Not Voting
Arambula, Joaquin Democratic Yea
Caballero, Anna M. Democratic Yea
Calderon, Lisa Democratic Yea
Jones, Brian W. Republican Yea
Niello, Roger W. Republican Nay
Strickland, Tony Republican Nay

Official roll call →

SB 660 Wolk Senate Third Reading By NAVA

Passed 58 Yea · 32 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 543001
Democratic 3000
Republican 1200
Total 583201
% of votes cast 64%35%0%1%
How each member voted (91)
Member Party Vote
Hagman — Nay
Block — Yea
Evans — Yea
Charles — Yea
Feuer — Yea
Fuller — Nay
Furutani — Yea
Garrick — Nay
De — Yea
La — Yea
Torre — Yea
De — Yea
Leon — Yea
Fong — Yea
Bonnie — Yea
Lowenthal — Yea
V. — Yea
Manuel — Yea
Perez — Yea
John — Yea
A. — Yea
Perez — Yea
Portantino — Yea
Salas — Yea
Saldana — Yea
Carter — Yea
Chesbro — Yea
Conway — Nay
Bill — Nay
Tom — Nay
Gilmore — Nay
Hall — Yea
Harkey — Nay
Hayashi — Yea
Hill — Yea
Fletcher — Nay
Bass — Yea
Blakeslee — Nay
Cook — Nay
Coto — Yea
Duvall — Nay
Huber — Yea
Jeffries — Nay
Knight — Nay
Lieu — Yea
Logue — Nay
Miller — Nay
Monning — Yea
Ruskin — Yea
Solorio — Yea
Swanson — Yea
Torres — Yea
Torrico — Yea
Audra — Nay
Nestande — Nay
Silva — Nay
Smyth — Nay
Villines — Nay
Adams — Nay
Ammiano — Yea
Anderson — Nay
Beall — Yea
Blumenfield — Yea
Brownley — Yea
Buchanan — Yea
Hernandez — Yea
Huffman — Yea
Krekorian — Yea
Ma — Yea
Mendoza — Not Voting
Nava — Yea
Nielsen — Nay
Skinner — Yea
Torlakson — Yea
Tran — Nay
Emmerson — Nay
Eng — Yea
Davis — Yea
DeVore — Nay
Yamada — Yea
Fuentes — Yea
Galgiani — Yea
Beth Gaines — Nay
Bill Berryhill — Nay
Bill Berryhill — Nay
Arambula, Joaquin Democratic Yea
Caballero, Anna M. Democratic Yea
Calderon, Lisa Democratic Yea
Jones, Brian W. Republican Yea
Niello, Roger W. Republican Nay
Strickland, Tony Republican Nay

Official roll call →

Do pass as amended.

Passed 9 Yea · 3 Nay
Party YeaNayPresentNot Voting
Unaffiliated 9200
Republican 0100
Total 9300
% of votes cast 75%25%0%0%
How each member voted (12)
Member Party Vote
De — Yea
La — Yea
Torre — Yea
Feuer — Yea
Knight — Nay
Brownley — Yea
Lieu — Yea
Monning — Yea
Tran — Nay
Chesbro — Yea
Evans — Yea
Niello, Roger W. Republican Nay

Official roll call →

Senate 3rd Reading SB660 Wolk

Passed 24 Yea · 15 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 211401
Democratic 3000
Republican 0100
Total 241501
% of votes cast 60%38%0%3%
How each member voted (40)
Member Party Vote
Yee — Yea
Wyland — Nay
Cedillo — Yea
Cogdill — Nay
Hancock — Yea
Harman — Nay
Negrete — Yea
Ducheny — Yea
Huff — Nay
Kehoe — Yea
Runner — Nay
Ashburn — Nay
Benoit — Nay
Dutton — Nay
Liu — Yea
McLeod — Yea
Oropeza — Yea
Pavley — Yea
Simitian — Yea
Wiggins — Yea
Wright — Not Voting
Aanestad — Nay
Alquist — Yea
Hollingsworth — Nay
Leno — Yea
Maldonado — Nay
Romero — Yea
Steinberg — Yea
Walters — Nay
Wolk — Yea
Corbett — Yea
Correa — Yea
Cox — Nay
DeSaulnier — Yea
Denham — Nay
Florez — Yea
Calderon, Lisa Democratic Yea
Lowenthal, Josh Democratic Yea
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Nay

Official roll call →

Do pass as amended.

Passed 3 Yea · 2 Nay
Party YeaNayPresentNot Voting
Unaffiliated 3200
Total 3200
% of votes cast 60%40%0%0%
How each member voted (5)
Member Party Vote
Corbett — Yea
Harman — Nay
Leno — Yea
Walters — Nay
Florez — Yea

Official roll call →

Subjects

finance housing
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Frequently asked questions

What does SB 660 do?
Existing law defines and regulates reverse mortgage loans. This bill would provide that a lender, broker, person, or entity that recommends the purchase of a reverse mortgage in anticipation of financial gain owes the prospective borrower a duty of honesty, good faith, and fair dealing, as defined. This bill would provide that a person or entity shall not attempt to avoid the application of these provisions, as specified.
Who sponsors SB 660?
SB 660 is sponsored by Wolk.
What is the current status of SB 660?
This bill died with 2009-2010 Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 660?
Track SB 660 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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