MN SF4168

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

Applies to residential mortgage originators located both within Minnesota and outside the state

Effective date of August 1, 2026, applying to residential mortgage loans executed on or after that date

Referred to the Senate Commerce and Consumer Protection Committee on March 5, 2026