CS/SB 1016 (2022) -  Mortgage Payoff Letters

General Bill by Banking and Insurance and Burgess
Mortgage Payoff Letters: Revising the timeframe within which a mortgagee or mortgage servicer must send or cause to be sent an estoppel letter containing specified information; requiring notice to the mortgagor of a request for an estoppel letter under certain circumstances; requiring a mortgagee or mortgage servicer to provide a copy of a corrected estoppel letter to a mortgagor under certain circumstances; providing that a corrected estoppel letter supersedes any previous estoppel letter under certain circumstances; prohibiting payments received pursuant to an estoppel letter from being returned and requiring such payments to be promptly applied to any unpaid balance of the loan properly due under or secured by a mortgage, etc.
Effective Date: October 1, 2022, and applies to all mortgages existing as of that date and entered into on or after that date, as well as to all loans secured by such mortgages
Last Event: Died in Messages on Monday, March 14, 2022 1:03 PM

Referred Committees and Committee Actions

Senate Referrals

  • Banking and Insurance
    • On agenda for: 02/08/22 3:00 PM
    • Favorable With Committee Substitute (final action) Votes: Yeas 11   Nays 0
  • Rules
    • On agenda for: 02/23/22 9:00 AM
    • Favorable (final action) Votes: Yeas 17   Nays 0

Related Bills

Bill # Subject Relationship
Bill #: HB 335 Subject: Satisfaction of Mortgages Relationship: Similar
Bill #: CS/CS/HB 353 Subject: Mortgage Payoff Letters Relationship: Similar

Bill Text

Staff Analysis

Chamber Committee
Chamber: Senate Committee: Rules 2/23/2022 4:25:40 PM
Chamber: Senate Committee: Rules 2/21/2022 4:27:47 PM
Chamber: Senate Committee: Banking and Insurance 2/10/2022 2:22:04 PM
Chamber: Senate Committee: Banking and Insurance 2/7/2022 2:53:27 PM

Vote History

Chamber Date Yeas Nays Action Action 2 Vote Detail Barcode
Chamber: Senate Date: 03/02/2022 06:48 PM   Yeas: 39 Nays: 0 Action: Action 2: Vote Detail: Vote [Seq# 32] Barcode:

Bill History

Event Time Member Committee Ver.
Event: H Died in Messages Time: 03/14/2022 - 1:03 PM Member: Committee: Version: e1
Event: H Indefinitely postponed and withdrawn from consideration Time: 03/12/2022 - 12:00 AM Member: Committee: Version: e1
Event: H In Messages Time: 03/02/2022 - 7:23 PM Member: Committee: Version: e1
Event: S CS passed as amended; YEAS 39 NAYS 0 -SJ 518 Time: 03/02/2022 - 6:48 PM Member: Committee: Version: c1
Event: S Read 3rd time -SJ 518 Time: 03/02/2022 - 6:47 PM Member: Committee: Version: c1
Event: S Amendment(s) adopted (579878) -SJ 517 Time: 03/02/2022 - 6:47 PM Member: Committee: Version: c1
Event: S Read 2nd time -SJ 515 Time: 03/02/2022 - 6:44 PM Member: Committee: Version: c1
Event: S Retained on Special Order Calendar Time: 03/01/2022 - 11:12 AM Member: Committee: Version: c1
Event: S Placed on Special Order Calendar, 03/01/22 -SJ 484 Time: 02/24/2022 - 1:55 PM Member: Committee: Version: c1
Event: S Placed on Calendar, on 2nd reading Time: 02/23/2022 - 4:43 PM Member: Committee: Rules Version: c1
Event: S Favorable by- Rules; YEAS 17 NAYS 0 -SJ 451 Time: 02/23/2022 - 12:29 PM Member: Committee: Rules Version: c1
Event: S On Committee agenda-- Rules, 02/23/22, 9:00 am, 412 Knott Building Time: 02/18/2022 - 2:31 PM Member: Committee: Rules Version: c1
Event: S Now in Rules Time: 02/11/2022 - 8:55 AM Member: Committee: Rules Version: c1
Event: S Remaining references corrected to Rules -SJ 382 Time: 02/11/2022 - 8:55 AM Member: Committee: Rules Version: c1
Event: S Original reference(s) removed: Judiciary Time: 02/11/2022 - 8:55 AM Member: Committee: Judiciary Version: c1
Event: S CS by Banking and Insurance read 1st time -SJ 365 Time: 02/10/2022 - 5:56 PM Member: Committee: Banking and Insurance Version: c1
Event: S Pending reference review under Rule 4.7(2) - (Committee Substitute) Time: 02/10/2022 - 2:33 PM Member: Committee: Banking and Insurance Version: c1
Event: S CS by Banking and Insurance; YEAS 11 NAYS 0 -SJ 364 Time: 02/08/2022 - 3:55 PM Member: Committee: Banking and Insurance Version: __
Event: S On Committee agenda-- Banking and Insurance, 02/08/22, 3:00 pm, 37 Senate Building Time: 02/03/2022 - 1:50 PM Member: Committee: Banking and Insurance Version: __
Event: S Introduced -SJ 68 Time: 01/11/2022 - 11:01 AM Member: Committee: Version: __
Event: S Referred to Banking and Insurance; Judiciary; Rules -SJ 68 Time: 12/13/2021 - 10:39 AM Member: Committee: Banking and Insurance Version: __
Event: S Filed Time: 11/19/2021 - 3:31 PM Member: Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
701.04 HB 335, CS/CS/HB 353
701.041 HB 335, CS/CS/HB 353