Establishes the "Uniform Mortgage Modification Act"

Summary

The bill adds six new sections to Missouri’s mortgage law, defining key terms and stating that most mortgage modifications—such as extending the loan term, changing the interest rate, or reducing principal—do not affect the mortgage’s priority or create a new loan. It applies to modifications made after the law takes effect, but it does not cover releases of property, changes in borrower, or transfers of the mortgage. The act also updates how electronic signatures are treated for these modifications.

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