Bill > HB05212

This bill, effective October 1, 2026, requires Connecticut banks and Connecticut credit unions to accept and credit, or treat as credited, periodic payments (payments covering principal, interest, and escrow for a billing cycle) and partial payments (payments less than a full periodic payment) on residential mortgage loans. A residential mortgage loan is defined as a loan issued on or after October 1, 2026, by a Connecticut bank or credit union, primarily for personal, family, or household use, and secured by a mortgage on a dwelling or residential real estate. This acceptance and crediting must occur on the business day the payment is received, provided the borrower makes payments as instructed in writing and provides enough information to identify and credit the correct mortgage account.

Business and Industry

Banking Committee (Joint)

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05212&which_year=2026