SB427 is a bill in the West Virginia Legislature (2026 Regular Session): Relating to loan form.

What is the status of SB427?

Signed into law as of March 25, 2026. Latest action: Chapter 53, Acts, Regular Session, 2026 (June 25, 2026).

Morris, Robbie (R, 11), with 1 co-sponsor.

Where is the official record for SB427?

On the West Virginia Legislature website: https://www.wvlegislature.gov/bill_status/Bills_history.cfm?input=427&year=2026&sessiontype=RS&btype=bill

West Virginia legislation · 2026 Regular Session

West Virginia SB427: Relating to loan form

Q: What does SB427 do?

In its own words: An act to amend and reenact §31-17-8 of the Code of West Virginia, 1931, as amended, relating to modifying the type of documentation required to be maintained by a licensed residential mortgage lender, broker, or servicer regarding loan fees or points. article 17. west virginia residential mortgage lender, broker, and servicer act. §31-17-8. Maximum interest rate on subordinate loans; prepayment rebate; maximum points, fees and charges; overriding of federal limitations; limitations on lien documents; prohibitions on primary and subordinate mortgage loans; civil remedy. (a) The maximum rate of.

Status: Signed into law, March 25, 2026

What the bill says

An act to amend and reenact §31-17-8 of the Code of West Virginia, 1931, as amended, relating to modifying the type of documentation required to be maintained by a licensed residential mortgage lender, broker, or servicer regarding loan fees or points. article 17. west virginia residential mortgage lender, broker, and servicer act. §31-17-8. Maximum interest rate on subordinate loans; prepayment rebate; maximum points, fees and charges; overriding of federal limitations; limitations on lien documents; prohibitions on primary and subordinate mortgage loans; civil remedy. (a) The maximum rate of.

From the enrolled text, March 14, 2026:

AN ACT to amend and reenact §31-17-8 of the Code of West Virginia, 1931, as amended, relating to modifying the type of documentation required to be maintained by a licensed residential mortgage lender, broker, or servicer regarding loan fees or points. article 17. west virginia residential mortgage lender, broker, and servicer act. §31-17-8. Maximum interest rate on subordinate loans; prepayment rebate; maximum points, fees and charges; overriding of federal limitations; limitations on lien documents; prohibitions on primary and subordinate mortgage loans; civil remedy. (a) The maximum rate of finance charges on or in connection with any subordinate mortgage loan may not exceed 18 percent per year on the unpaid balance of the amount financed. (b) A borrower has the right to prepay his or her debt, in whole or in part, at any time and shall receive a rebate for any unearned finance charge, exclusive of any points, investigation fees and loan origination fees, which rebate shall be computed under the actuarial method. (c) Except as provided by §46A-3-109 of this code and by subsection (g) of this section, no additional charges may be made, nor may any charge permitted by this section be assessed unless the loan is made: Provided, That if the loan is not made, the licensee is not required to refund an appraisal fee that is …

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West Virginia SB427: Relating to loan form

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