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: Senate committeeFebruary 20, 2025
4. –
   Skipped: Passes the SenateContinued as SF 398
5. Next: House committee
6. Next: Passes the House
7. Next: To the Governor
8. Next: Signed into law

Became SF 398 → Its progress continues under the new number. 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.
  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.
  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.
  Withdrawn
  April 17, 2025