Committee advances Uniform Mortgage Modification Act (SB 5831) with due-pass recommendation
The Consumer Protection and Business Committee reported Senate Bill 5,831 out of committee with a due-pass recommendation after members said the uniform mortgage-modification safe-harbors would protect both borrowers and lien priorities. Staff described 'safe harbors' for specified modification types and the committee recorded 14 ayes and one excused.
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The Consumer Protection and Business Committee on Feb. 25 reported Senate Bill 5,831, which would enact the Uniform Mortgage Modification Act, out of committee with a due-pass recommendation.
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