CT HB06688

Requires mortgagees in the Ezequiel Santiago Foreclosure Mediation Program to send mortgage modifications to mortgagors at least 15 business days before the first modified payment is due, with failure constituting grounds for court intervention.

Expands mortgage release requirements to allow mortgagees to deliver releases directly to mortgagors upon request and requires concurrent delivery of copies to town clerks when releases are not initially sent to mortgagors.

Permits mortgagees to accept bank checks, certified checks, attorney trust account checks, title company checks, wire transfers, and other federally authorized payment methods for mortgage satisfaction or partial satisfaction.

Establishes a small multifamily lending program through the Connecticut Housing Finance Authority to provide acquisition, construction, rehabilitation, and permanent financing for properties with 2-20 units, with enhanced lending guidelines for affordability incentive zones.

Creates a working group to study ways to improve access to loans for mobile manufactured home purchases, with findings due to the legislature by January 1, 2024.