Bill Summary

SB 1016 Mortgage Payoff Letters (2022 Session)
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Sponsors
by Burgess  CS Sponsors: Banking and Insurance
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Summary
Mortgage Payoff Letters; Revising the timeframe within which a mortgagee or mortgage servicer must send or cause to be sent an estoppel letter containing specified information; requiring notice to the mortgagor of a request for an estoppel letter under certain circumstances; providing that a corrected estoppel letter supersedes any previous estoppel letter under certain circumstances; prohibiting payments received pursuant to an estoppel letter from being returned and requiring such payments to be promptly applied to any unpaid balance of the loan properly due under or secured by a mortgage, etc. Effective Date: October 1, 2022, and applies to all mortgages existing as of that date and entered into on or after that date, as well as to all loans secured by such mortgages
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committees of reference
   S Banking and Insurance
   S Rules
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Actions
11/19/21
SENATE
Filed
12/13/21
SENATE
Referred to Banking and Insurance; Judiciary; Rules
02/03/22
SENATE
On Committee agenda - Banking and Insurance, 02/08/22, 3:00 pm, 412 K
02/08/22
SENATE
Favorable with CS by Banking and Insurance; 11 Yeas, 0 Nays
02/10/22
SENATE
Committee Substitute Text (C1) Filed
02/11/22
SENATE
Reference to Judiciary removed; Remaining reference: Rules
02/11/22
SENATE
Now in Rules
02/18/22
SENATE
On Committee agenda - Rules, 02/23/22, 9:00 am, 412 K
02/23/22
SENATE
Favorable by Rules; 17 Yeas, 0 Nays
02/23/22
SENATE
Placed on Calendar, on 2nd reading
02/24/22
SENATE
Placed on Special Order Calendar, 03/01/22
03/01/22
SENATE
Temporarily Postponed on Second Reading
03/01/22
SENATE
Retained on Special Order Calendar
03/02/22
SENATE
Read Second Time; Amendment Adopted (579878); Read Third Time; Passed (Vote: 39 Yeas / 0 Nays)
03/02/22
SENATE
Engrossed Text (E1) Filed
03/02/22
HOUSE 
In Messages
03/12/22
HOUSE 
Indefinitely postponed and withdrawn from consideration
03/14/22
HOUSE 
Died in Messages
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bill text & filed amendments
1016
Filed on 11/19/21
PDF
Amendment 184796 DE
Burgess
Filed on 02/07/22
Replaced by CS
PDF
1016C1
Filed on 02/10/22
PDF
Amendment 212610
Burgess
Filed on 02/25/22
Replaced by Substitute Amendment
PDF
Amendment 579878 SA
Burgess
Filed on 03/02/22
Adopted on 2nd Reading
PDF
1016E1
Filed on 03/02/22
PDF
No amendments to this bill text filed.
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Statute Citations
701.04
701.041
Research & Reports
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