In CommitteeFiled Jan 23, 2026
Sponsor: MCKELVEY
Latest Action
The committee on CPN deferred the measure.
Feb 25, 2026
Summary
The bill adds rules for how mortgage servicers must handle insurance money when a home is damaged or destroyed. Borrowers must submit a repair or rebuild plan with milestones, and servicers must approve it within 30 days and then disburse funds according to the borrower’s payment status and the amount of the claim. The goal is to ensure timely, transparent payments while protecting both borrowers and lenders.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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