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Mortgage Modification Act Bill Advances

Posted by on November 5, 2025

The Joint Corporations Committee passed a draft bill to establish a uniform mortgage modification act.  With the committee’s action the bill will now be considered in the 2026 legislative session. The bill will require two-thirds majority for introduction.

Scott Meier, on behalf of the Uniform Law Commission, brought the bill to the committee for consideration. The bill modernizes the law surrounding modifications of mortgages, creating safe harbors for specific, common modifications. An overview of the act is available from the Uniform Law Commission.

Credit unions testified in support of the bill, which will simplify and streamline the modification process, clarifies common law principles, and allows safe harbor modifications that would not affect priority.

 

Posted in Advocacy on the Move, Wyoming Advocacy.

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