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2021 SESSION
HB 1882 Deeds of trust; amendment to loan document, statement of interest rate of a refinanced mortgage.
Introduced by: Steve E. Heretick | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Deeds of trust; amendment to loan document; statement of interest rate of a refinanced mortgage. Provides that a deed of trust that has been recorded and that states that it secures indebtedness or other obligations under a loan document and that it also secures indebtedness or other obligations under such loan document as it may be amended, modified, supplemented, or restated shall secure such loan document as amended, modified, supplemented, or restated from time to time, without the necessity of recording an amendment to such deed of trust. The bill further requires that the interest rate of a prior mortgage be stated on the first page of a refinance mortgage.
SUMMARY AS INTRODUCED:
Deeds of trust; amendment to loan document; statement of interest rate of a refinanced mortgage. Provides that a deed of trust that has been recorded and that states that it secures indebtedness or other obligations under a loan document and that it also secures indebtedness or other obligations under such loan document as it may be amended, modified, supplemented, or restated shall secure such loan document as so amended, modified, supplemented, or restated from time to time, without the necessity of recording an amendment to such deed of trust. The bill further requires that the interest rate of a prior mortgage be stated on the first page of a refinance mortgage.