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WV SB427

Bill

Official Source

Status

Enrolled

3/14/2026

Primary Sponsor

Robbie Morris

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Removes the requirement that licensed residential mortgage lenders, brokers, and servicers document loan refinancing benefits "on a form prescribed by the commissioner"
  • Maintains the existing requirement that licensees must document in writing any reasonable, tangible net benefit to borrowers when refinancing within 24 months
  • Applies to situations where loan origination fees, investigation fees, or points are charged on refinanced loans or additional loans on the same property
  • Amends §31-17-8 of the West Virginia Code under the Residential Mortgage Lender, Broker and Servicer Act

Legislative Description

Relating to loan form

Banking and Finance

Last Action

Completed legislative action

3/14/2026

Committee Referrals

Finance2/3/2026
Finance1/22/2026
Banking and Insurance1/15/2026

Full Bill Text

No bill text available