Alabama legislation · 2026 Regular Session
Alabama HB55: Mortgages; authorize lenders to mortgagors to make additional mortgage payments
Status: Signed into law, April 16, 2026
What the bill says
An Act, Relating to financial institutions; to authorize mortgage servicers to allow mortgagors to make biweekly or semi-monthly mortgage payments and additional payments to the mortgage principal without penalty.
From the enrolled text:
An Act, Relating to financial institutions; to authorize mortgage servicers to allow mortgagors to make biweekly or semi-monthly mortgage payments and additional payments to the mortgage principal without penalty. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. (a) For purposes of this section, the following terms have the following meanings: (1) BIWEEKLY. Occurring every two weeks. (2) CONTRACTUAL MORTGAGE PAYMENT. The total amount of the monthly mortgage loan payment, comprised of the principal payment, interest payment, and any additional amounts being collected and held in an escrow account. (3) ESCROW AMOUNT. The amount of any additional funds that are collected by a mortgage servicer pursuant to a mortgage loan and set aside in an escrow account to cover future expenses, including property taxes and homeowners insurance. (4) ESCROW ANALYSIS. The accounting that a financial institution conducts pursuant to 12 C.F.R. § 1024.17 to determine the appropriate target balances, compute the borrower's monthly payments or deposits needed for the next year, and determine whether escrow shortages exist. (5) MORTGAGE SERVICER. A servicer as defined in U.S.C. § 2605(i)(2). (6) MORTGAGOR. A person that borrows money by granting a mortgage or a successor in ownership of the real property Page a mortgage or a successor in ownership of the real property HB55 Enrolled described in the mortgage. (7) PRINCIPAL. The …
Sponsors
- Hollis, Rolanda (D, HD-058) · primary sponsor
Latest actions
- : Enacted
- : Delivered to Governor
- : Signature Requested
- : Enrolled
- : Ready to Enroll
- : Motion to Read a Third Time and Pass - Adopted Roll Call 1287
- : Read for the Second Time and placed on the Calendar
- : Reported Out of Committee Second House
- : Pending Committee Action in Second House
- : Read for the first time and referred to the Senate Committee on Banking and Insurance
Votes
- Senate Roll Call #1287 (April 8, 2026): 30 yea, 0 nay, passed
- House Roll Call #706 (March 3, 2026): 104 yea, 0 nay, passed
- House Roll Call #705 (March 3, 2026): 105 yea, 0 nay, passed
- House Roll Call #704 (March 3, 2026): 104 yea, 0 nay, passed
- House Roll Call #703 (March 3, 2026): 102 yea, 0 nay, passed
Subjects: Businesses & Financial Institutions
Common questions
- What is HB55?
- HB55 is a bill in the Alabama Legislature (2026 Regular Session): Mortgages; authorize lenders to mortgagors to make additional mortgage payments.
- What does HB55 do?
- In its own words: An Act, Relating to financial institutions; to authorize mortgage servicers to allow mortgagors to make biweekly or semi-monthly mortgage payments and additional payments to the mortgage principal without penalty.
- What is the status of HB55?
- Signed into law as of April 16, 2026. Latest action: Enacted (April 16, 2026).
- Who sponsored HB55?
- Hollis, Rolanda (D, HD-058).
- Where is the official record for HB55?
- On the Alabama Legislature website: https://alison.legislature.state.al.us/instrument/2026RS/HB55
Source: official Alabama record. Tracked by Delilah, AI for legislation across all 50 states and Congress.