Signed into LawFiled Jan 15, 2026
Sponsor: Robbie Morris (R)
Latest Action
S Chapter 53, Acts, Regular Session, 2026
Jun 25, 2026
Summary
The bill limits interest on subordinate mortgages to 18% annually, caps total lender and broker fees at 6% of the loan amount (5% if no yield‑spread premium), and requires written proof of any benefit when fees are re‑charged within 24 months. It applies to licensed residential mortgage lenders, brokers and servicers, and adds strict prohibitions on undisclosed or excessive charges, certain loan provisions, and premature compensation.
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