Bill
Bill > HF3437
summary
Introduced
02/17/2026
02/17/2026
In Committee
02/17/2026
02/17/2026
Crossed Over
Passed
Dead
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to commerce; modifying the application of certain residential mortgage loan fees and penalties; amending Minnesota Statutes 2024, section 58.137, subdivision 3.
AI Summary
This bill modifies how certain fees and penalties related to residential mortgage loans are applied in Minnesota, specifically by amending Minnesota Statutes 2024, section 58.137, subdivision 3. The key change is that the limitations and prohibitions outlined in this section will now only apply to loans made primarily for personal, family, or household purposes, meaning loans for business or investment will be excluded from these specific regulations. Furthermore, this amendment will take effect on August 1, 2026, and will only apply to residential mortgage loans that are executed on or after that date.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduction and first reading, referred to Commerce Finance and Policy (on 02/17/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/94/2026/0/HF/3437/ |
| BillText | https://www.revisor.mn.gov/bills/94/2026/0/HF/3437/versions/0/pdf/ |
Loading...