Minnesota HF3437: Application of certain residential mortgage loan fees and penalties modified.

What the bill says

A bill for an act relating to commerce; modifying the application of residential mortgage loan fees and penalties in certain instances; amending Minnesota Statutes 2024, sections 58.137, by adding a subdivision; 58.20, by adding a subdivision.

From the engrossed text, April 24, 2026:

A bill for an act relating to commerce; modifying the application of residential mortgage loan fees and penalties in certain instances; amending Minnesota Statutes 2024, sections 58.137, by adding a subdivision; 58.20, by adding a subdivision. Section 1. Minnesota Statutes 2024, section 58.137, is amended by adding a subdivision to read: new text begin [ADDED: Subd. 4.] new text end new text begin [ADDED: Exception.] new text end new text begin [ADDED: Subdivisions 1 and 2 do not apply to a residential mortgage loan that is a purchase money, first lien, or DSCR loan, as defined in section 58.20, subdivision 5a, if:] new text end new text begin [] new text end new text begin [ and] new text end new text begin [ADDED: (3) the seller does not continue to occupy the residential real property after the sale.] new text end Sec. 2. Minnesota Statutes 2024, section 58.20, is amended by adding a subdivision to read: new text begin [ADDED: Subd. 5a.] new text end new text begin [ADDED: Debt service coverage ratio loan or DSCR loan.] new text end new text begin [ADDED: "Debt service coverage ratio loan" or "DSCR loan" means a mortgage: ] new text end new text begin [] new text end new text begin [ and] new text end new text begin [ADDED: (3) …

Read the full official text

Sponsors

• Keith Allen (R) · primary sponsor

Latest actions

1. August 1, 2026: Effective date
2. April 29, 2026: Secretary of State, Filed
3. April 29, 2026: Governor approval
4. April 28, 2026: Presented to Governor
5. April 23, 2026: Bill was repassed as amended by the Senate vote: 133-0
6. April 23, 2026: Third reading as amended by the Senate
7. April 23, 2026: Motion prevailed
8. April 23, 2026: Motion to concur with Senate amendments
9. April 23, 2026: Returned from Senate with amendment
10. April 22, 2026: House rule 1.15 (c), message requesting concurrence received

Votes

• CONSIDERATION OF MESSAGE FROM THE SENATE - Repassage, as amended by the Senate (April 23, 2026): 133 yea, 0 nay, passed
• the passage of the bill, as amended (April 20, 2026): 67 yea, 0 nay, passed
• CALENDAR FOR THE DAY - Passage (April 13, 2026): 133 yea, 0 nay, passed

Common questions

What is HF3437?

HF3437 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Application of certain residential mortgage loan fees and penalties modified.

What does HF3437 do?

In its own words: A bill for an act relating to commerce; modifying the application of residential mortgage loan fees and penalties in certain instances; amending Minnesota Statutes 2024, sections 58.137, by adding a subdivision; 58.20, by adding a subdivision.

What is the status of HF3437?

Signed into law as of August 1, 2026. Latest action: Effective date (August 1, 2026).

Who sponsored HF3437?

Keith Allen (R).

Where is the official record for HF3437?

On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=HF3437&y=2025&ssn=0&b=house