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House backs mortgage-servicing bill after friendly amendments on payment timing
Summary
Senate Bill 37, a governor-priority measure establishing mortgage servicing registration and an administrative dispute process, was amended on the floor to clarify timely crediting of mortgage payments and late-charge grace periods and passed the House 67–0.
The Utah House on Jan. 31 approved Senate Bill 37, a mortgage lending and servicing measure placed on the governor’s priority list, after adopting a friendly amendment clarifying how mortgage payments are credited and when late charges apply.
Sponsor summary and aims: Representative Smithler said SB37 establishes a board to oversee servicing of mortgages, requires mortgage servicers who…
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