SF0031

Uniform Mortgage Modification Act establishes rules for modifying mortgages in Wyoming.

The Uniform Mortgage Modification Act implements a standardized approach to modifying mortgages in Wyoming. It defines key terms such as "mortgage," "modification," and "electronic." The act specifies that certain modifications, like changing interest rates or extending maturity dates, do not affect the mortgage's priority or validity. It also clarifies that the act does not apply to modifications involving property releases, changes in obligors, or transfers of mortgages. The act modifies the Electronic Signatures in Global and National Commerce Act but does not affect certain provisions.