Senate Bill 1016 (2022) - The Florida Senate

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CS/SB 1016: Mortgage Payoff Letters

GENERAL BILL by Banking and Insurance ; 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 Action: 3/14/2022 House - Died in Messages
Bill Text: Web Page | PDF

Senate Committee References:

Banking and Insurance (BI)
Rules (RC)

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Bill History

Date	Chamber	Action
11/19/2021	Senate	• Filed
12/13/2021	Senate	• Referred to Banking and Insurance; Judiciary; Rules -SJ 68
1/11/2022	Senate	• Introduced -SJ 68
2/3/2022	Senate	• On Committee agenda-- Banking and Insurance, 02/08/22, 3:00 pm, 37 Senate Building
2/8/2022	Senate	• CS by Banking and Insurance; YEAS 11 NAYS 0 -SJ 364
2/10/2022	Senate	• Pending reference review under Rule 4.7(2) - (Committee Substitute) • CS by Banking and Insurance read 1st time -SJ 365
2/11/2022	Senate	• Original reference(s) removed: Judiciary • Remaining references corrected to Rules -SJ 382 • Now in Rules
2/18/2022	Senate	• On Committee agenda-- Rules, 02/23/22, 9:00 am, 412 Knott Building
2/23/2022	Senate	• Favorable by- Rules; YEAS 17 NAYS 0 -SJ 451 • Placed on Calendar, on 2nd reading
2/24/2022	Senate	• Placed on Special Order Calendar, 03/01/22 -SJ 484
3/1/2022	Senate	• Retained on Special Order Calendar
3/2/2022	Senate	• Read 2nd time -SJ 515 • Amendment(s) adopted (579878) -SJ 517 • Read 3rd time -SJ 518 • CS passed as amended; YEAS 39 NAYS 0 -SJ 518
3/2/2022	House	• In Messages
3/12/2022	House	• Indefinitely postponed and withdrawn from consideration
3/14/2022	House	• Died in Messages

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CS/SB 1016, Engrossed 1 (Current Bill Version) Posted 3/2/2022 at 7:05 PM

Bill Text:	Web Page \| PDF

Analyses:	None

Related Bills (2)

Bill Number	Subject	Filed By	Relationship	Last Action and Location	Track Bills
H 335	Satisfaction of Mortgages	Fabricio	Similar	Last Action: 10/19/2021 H Withdrawn prior to introduction
H 353 (c2)	Mortgage Payoff Letters	Insurance and Banking Subcommittee	Similar	Last Action: 3/14/2022 H Died on Second Reading Calendar

Citations - Statutes (2)

Citation	Catchline	Location in Bill Location In Bill Help
701.04	Cancellation of mortgages, liens, and judgments.	Page 2 (pdf)
701.041	Title insurer; mortgage release certificate.	Page 8 (pdf)

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CS/SB 1016, Committee Substitute 1 Posted 2/10/2022 at 2:32 PM

Bill Text:	Web Page \| PDF

Analyses:	Rules (Pre-Meeting) 2/21/2022 (pdf) Rules (Post-Meeting) 2/23/2022 (pdf)

Related Bills (2)

Bill Number	Subject	Filed By	Relationship	Last Action and Location	Track Bills
H 335	Satisfaction of Mortgages	Fabricio	Similar	Last Action: 10/19/2021 H Withdrawn prior to introduction
H 353 (c2)	Mortgage Payoff Letters	Insurance and Banking Subcommittee	Similar	Last Action: 3/14/2022 H Died on Second Reading Calendar

Floor Amendments (2)

Amendment	Sponsor	Filed	Last Floor Action	Format
212610 - Amendment Delete lines 76 - 253 and insert:	Burgess	2/25/2022 1:26 PM	Senate: Replaced by Substitute Amendment 3/2/2022	Web Page PDF
579878 - Substitute Amendment (212610) Delete lines 81 - 197 and insert:	Burgess	3/2/2022 1:02 PM	Senate: Adopted 3/2/2022	Web Page PDF

Committee Votes (1)

Date	Committee	Result
2/23/2022 9:00 AM	Rules	17 Yeas - 0 Nays

Floor Votes (1)

Date	Chamber	Result
3/2/2022 6:48 PM	Senate	39 Yeas - 0 Nays

Citations - Statutes (2)

Citation	Catchline	Location in Bill Location In Bill Help
701.04	Cancellation of mortgages, liens, and judgments.	Page 2 (pdf)
701.041	Title insurer; mortgage release certificate.	Page 8 (pdf)

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SB 1016, Original Filed Version Posted 11/19/2021 at 3:30 PM

Bill Text:	Web Page \| PDF

Analyses:	Banking and Insurance (Pre-Meeting) 2/7/2022 (pdf) Banking and Insurance (Post-Meeting) 2/10/2022 (pdf)

Related Bills (2)

Bill Number	Subject	Filed By	Relationship	Last Action and Location	Track Bills
H 335	Satisfaction of Mortgages	Fabricio	Similar	Last Action: 10/19/2021 H Withdrawn prior to introduction
H 353 (c1)	Mortgage Payoff Letters	Insurance and Banking Subcommittee	Similar	Last Action: 3/14/2022 H Died on Second Reading Calendar

Committee Amendments (1)

Amendment	Sponsor	Filed	Last Committee Action	Format
184796 - Amendment (Delete All) Delete everything after the enacting clause and insert:	Banking and Insurance (Burgess)	2/7/2022 2:50 PM	Replaced by Committee Substitute 2/10/2022	Web Page PDF

Committee Votes (1)

Date	Committee	Result
2/8/2022 3:00 PM	Banking and Insurance	11 Yeas - 0 Nays

Citations - Statutes (2)

Citation	Catchline	Location in Bill Location In Bill Help
701.04	Cancellation of mortgages, liens, and judgments.	Page 2 (pdf)
701.041	Title insurer; mortgage release certificate.	Page 6 (pdf)

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