PRIA Logo™
AlabamaHB552026 Regular SessionHouseWALLET

Mortgages; authorize lenders to mortgagors to make additional mortgage payments

Sponsored By: Rolanda Hollis (Democratic)

Enacted

Businesses & Financial Institutions

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

More payment options for Alabama mortgage borrowers

Beginning October 1, 2026, mortgage servicers can allow penalty-free payments every two weeks or twice a month. This covers consumer mortgages secured by Alabama real property and started on or after that date. Open-end mortgages and home equity products are excluded. The provision also excludes servicers already offering these penalty-free schedules, including through closed-end mortgages. Servicers do not have to offer these options and may require borrowers to opt in. With payments every two weeks, amounts above the yearly required payment total go toward principal—the remaining loan balance excluding interest. Twice-monthly payments are each half the regular monthly payment, which includes principal, interest, and any escrow amount. Servicers can also allow additional principal payments without penalty. Borrowers can pay down or clear an escrow shortage only with servicer permission and notice in the required manner.

Sponsors & Cosponsors

Sponsor

  • Rolanda Hollis

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 445 • No: 0

Senate vote • 4/8/2026

Motion to Read a Third Time and Pass - Adopted Roll Call 1287

Yes: 30 • No: 0

House vote • 3/3/2026

Third Reading in House of Origin

Yes: 102 • No: 0

House vote • 3/3/2026

Motion to Read a Third Time and Pass as Amended - Adopted Roll Call 706

Yes: 104 • No: 0

House vote • 3/3/2026

Motion to Adopt - Adopted Roll Call 704

Yes: 104 • No: 0

House vote • 3/3/2026

Motion to Adopt - Adopted Roll Call 705

Yes: 105 • No: 0

Actions Timeline

  1. Enacted

    4/16/2026House

  2. Ready to Enroll

    4/9/2026House

  3. Enrolled

    4/9/2026House

  4. Signature Requested

    4/9/2026Senate

  5. Delivered to Governor

    4/9/2026House

  6. Motion to Read a Third Time and Pass - Adopted Roll Call 1287

    4/8/2026Senate

  7. Reported Out of Committee Second House

    3/17/2026Senate

  8. Read for the Second Time and placed on the Calendar

    3/17/2026Senate

  9. Third Reading in House of Origin

    3/3/2026House

  10. Financial Services 1st Substitute Offered

    3/3/2026House

  11. Motion to Adopt - Adopted Roll Call 704

    3/3/2026House

  12. Bolton 1st Amendment Offered

    3/3/2026House

  13. Motion to Adopt - Adopted Roll Call 705

    3/3/2026House

  14. Motion to Read a Third Time and Pass as Amended - Adopted Roll Call 706

    3/3/2026House

  15. Engrossed

    3/3/2026House

  16. Read for the first time and referred to the Senate Committee on Banking and Insurance

    3/3/2026Senate

  17. Pending Committee Action in Second House

    3/3/2026Senate

  18. Financial Services 1st Substitute

    2/25/2026House

  19. Reported Out of Committee House of Origin

    2/25/2026House

  20. Read for the Second Time and placed on the Calendar

    2/25/2026House

  21. Read for the first time and referred to the House Committee on Financial Services

    1/13/2026House

  22. Pending Committee Action in House of Origin

    1/13/2026House

Bill Text

Related Bills

Back to State Legislation