HB05212

Connecticut HB05212 mandates acceptance of periodic and partial payments on certain mortgage loans issued by Connecticut banks and credit unions.

Connecticut HB05212 requires Connecticut banks and credit unions to accept periodic and partial payments on residential mortgage loans issued on or after October 1, 2026. A periodic payment covers principal, interest, and escrow for a billing cycle, while a partial payment is less than a periodic payment. These payments must be accepted and credited in accordance with the terms of the mortgage loan.