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Senate passes mortgage‑servicing bill after debate on borrower protections
Summary
Senate Bill 37, aimed at mortgage lending and servicing reforms, passed the Utah Senate after sponsors said it brings servicing companies under the commissioner of finance and provides enforcement paths for borrowers who allege improper servicing practices.
The Utah Senate passed Senate Bill 37, a bill addressing mortgage lending and servicing practices, after floor debate that highlighted consumer complaints about servicing and foreclosure practices.
Sponsor Senator Beatty acknowledged constituent complaints and Representative Prontay’s written concerns about unauthorized entry during foreclosure and delayed payment crediting. Beatty argued the bill brings servicing companies under the jurisdiction of the commissioner of finance, enabling administrative…
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