Relating to closing costs for a debt secured by an interest in land

Where it is now

1. ✓
   Done: IntroducedFebruary 5, 2025
2. ✓
   Done: SubcommitteeFebruary 5, 2025
3. ✓
   Done: House committeeFebruary 18, 2025
4. ✓
   Done: Passes the HouseApril 17, 202593–0
5. –
   Skipped: Senate committeeSkipped
6. ✓
   Done: Passes the SenateMarch 26, 202547–0
7. ✓
   Done: To the GovernorMay 6, 2025
8. ✓
   Done: Signed into lawMay 6, 2025

SF 398 became law → The same legislation passed as SF 398, so this version was set aside. Go to SF 398 What’s a funnel?

Amendments · 3

1 adopted · 0 failed · 1 never voted on. Newest first.

• S-3112 · filed April 21, 2025 by

  AI summary This amendment changes the rules for when lenders can charge discount points to lower a borrower's interest rate. It specifies that these points and fees must stay within certain federal limits to avoid other state-level fee restrictions. Its wording →
  Never voted on
• H-1240 · filed April 16, 2025 by

  AI summary This amendment changes the rules for when lenders can charge discount points to lower interest rates, requiring that the total points and fees do not exceed specific federal limits. It also states that if a licensed mortgage banker provides a loan that stays within these federal limits, the loan is not subject to certain state-level fee restrictions. Its wording →
  Adopted
  April 17, 2025
• H-1226 · filed April 14, 2025 by

  AI summary This amendment removes the original rules regarding closing costs and replaces them with a new rule. It states that if a licensed mortgage banker provides a loan where the interest rate and fees stay within certain federal limits, the loan will not be subject to specific state limits on fees. Its wording →
  Withdrawn
  April 17, 2025