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MissouriHB26362026 Regular SessionHouseWALLET

Establishes the "Uniform Mortgage Modification Act"

Sponsored By: Bill Owen (Republican)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

More protection when homeowners sell and rent

The law protects individuals who sell a current or former residence with one to four units and rent it back. This includes sellers who stay or return later. Buyers must provide a single-page, boldface warning at least 14 calendar days before signing. It explains eviction risks, possible loss of buyback rights, credit and tax effects, and the need for professional advice. Both parties must sign the disclosure when signing the agreement; sellers must receive a signed copy within five days. Closing and title transfer must wait at least 30 days after signing. Harmed sellers can seek actual damages plus $10,000 in statutory damages, attorney fees, costs, and court-ordered relief. The Attorney General can seek restitution, injunctions, and civil penalties up to $10,000 per violation. That penalty is separate from seller damages, and these protections cannot be waived.

Advance warnings for homeowners selling to wholesalers

Wholesalers contract to buy homes without taking title, intending to transfer the contract for a fee. For homes with one to four units, they must give owners a separate disclosure explaining their role. It is due at least 14 calendar days before contracting, in bold type of at least 12 points. Both sides must sign and date it before a binding contract; certain family and affiliated-entity transfers are excluded. Without the required disclosure, owners can cancel before escrow closes without penalty. The closing or escrow agent must give the wholesaler’s earnest money to the owner within 30 days after cancellation. Violations are unlawful and unfair practices, allowing private lawsuits and Attorney General enforcement for damages, injunctions, and restitution. These disclosure duties and remedies cannot be waived or changed by agreement.

Insurance claim ownership and transfer limits

When an insurer pays a property-damage claim, it automatically gains legal title to the paid portion of the claim. The claimant keeps rights to any unpaid portion; this concerns claim rights, not ownership of the home itself. Insured people cannot transfer policy duties, rights, or benefits before or after a loss. Contracts attempting such transfers are void and unenforceable. However, insured people retain the ability to direct payment for covered items when the policy expressly allows it. The Attorney General can bring civil actions for violations.

Mortgage changes keep lenders’ lien priority

Covered mortgage changes keep the mortgage securing the changed debt and preserve the lender’s place in line for repayment. This applies even without recording the change in public land records; the change does not replace the original obligation. Covered changes include longer repayment terms, lower interest, capitalized unpaid amounts, principal forbearance, and debt reduction or forgiveness. Certain index changes and switches between fixed and adjustable rates qualify only without increasing interest when the change takes effect. Other covered changes include escrow, reserve, insurance, funding conditions, financial promises, and payment changes resulting from permitted changes. Changes to pledged property or borrowers, and transfers of the mortgage or debt, are excluded. The rules cover modifications made on or after the law’s effective date, even for older loans. They do not require lenders to offer relief or automatically lower payments. Federal electronic-consent protections and restrictions on electronic delivery of protected notices remain in place.

Sponsors & Cosponsors

Sponsor

  • Bill Owen

    Republican • House

Cosponsors

  • Wendy L. Hausman

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 488 • No: 7

House vote • 5/15/2026

House Adopts - SS, as amended

Yes: 142 • No: 1

House vote • 5/15/2026

Truly Agreed To and Finally Passed

Yes: 144 • No: 1

House vote • 5/15/2026

Reported Do Pass

Yes: 7 • No: 0

Senate vote • 5/14/2026

Third Read and Passed with Amendments - SA 1

Yes: 25 • No: 5

House vote • 3/26/2026

Third Read and Passed

Yes: 145 • No: 0

House vote • 2/26/2026

Reported Do Pass

Yes: 12 • No: 0

House vote • 2/4/2026

Reported Do Pass

Yes: 13 • No: 0

Actions Timeline

  1. Delivered to Secretary of State (G)

    7/9/2026House

  2. Approved by Governor (G)

    7/9/2026House

  3. Delivered to Governor

    5/28/2026House

  4. Signed by President Pro Tem

    5/28/2026Senate

  5. Signed by House Speaker

    5/28/2026House

  6. House Message

    5/15/2026House

  7. Truly Agreed To and Finally Passed - AYES: 144 NOES: 1 PRESENT: 0

    5/15/2026House

  8. House Adopts - SS, as amended AYES: 142 NOES: 1 PRESENT: 0

    5/15/2026House

  9. Taken Up

    5/15/2026House

  10. Reported Do Pass - AYES: 7 NOES: 0 PRESENT: 0

    5/15/2026House

  11. Voted Do Pass

    5/15/2026House

  12. Executive Session Completed

    5/15/2026House

  13. Referred: Fiscal Review

    5/14/2026House

  14. Reported to the House with... - SS, as amended

    5/14/2026House

  15. Third Read and Passed with Amendments - SA 1 AYES: 25 NOES: 5 PRESENT: 0

    5/14/2026Senate

  16. SS Adopted

    5/14/2026Senate

  17. SS Offered

    5/14/2026Senate

  18. Taken Up for Third Reading

    5/14/2026Senate

  19. Placed on Informal Calendar

    5/7/2026Senate

  20. Reported Do Pass

    4/28/2026Senate

  21. Voted Do Pass

    4/21/2026Senate

  22. Public Hearing Held

    4/21/2026Senate

  23. Public Hearing Scheduled - Tuesday, April 21, 2026, 12:00 p.m., Senate Lounge - 3rd Floor

    4/16/2026Senate

  24. Second read and referred: Insurance and Banking

    4/8/2026Senate

  25. Reported to the Senate and First Read

    3/30/2026Senate

Bill Text

  • Truly Agreed

    5/15/2026

    PDF

  • Perfected

    3/23/2026

    PDF

  • Senate Substitute

    2/4/2026

    PDF

  • Introduced

    1/7/2026

    PDF

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