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MN HF3437
Bill
Status
2/17/2026
Primary Sponsor
Keith Allen
Click for details
AI Summary
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Amends Minnesota Statutes section 58.137, subdivision 3, to clarify that limitations and prohibitions on residential mortgage loan fees and penalties apply only to loans made primarily for personal, family, or household purposes
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Maintains existing law that the section applies to residential mortgage originators both inside and outside Minnesota
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Excludes commercial or investment property loans from the fee and penalty restrictions under this section
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Effective August 1, 2026, applying to residential mortgage loans executed on or after that date
Legislative Description
Application of certain residential mortgage loan fees and penalties modified.
Last Action
Introduction and first reading, referred to Commerce Finance and Policy
2/17/2026