Signed into LawFiled Jan 13, 2026
Sponsor: Gambrell
Latest Action
Act No. 171
May 27, 2026
Summary
The legislation revises the state code to define the conventional mortgage rate as the average prime offer rate published by the CFPB on the date a lender sets the final interest rate, and it sets new criteria for when a loan is deemed high‑cost based on APR and points/fees. The changes affect mortgage lenders, borrowers, and the state regulator, aiming to align state rules with federal standards and clarify fee limits.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Topics
Track this bill
Get an email when S 780 moves: committee action, floor votes, amendments and hearings. Free, no card.
Track S 780 freeOr ask your AI assistant about S 780 directly:
Add to Claude, ChatGPT or Cursor