SB00217 • 2026

AN ACT REQUIRING MORTGAGEES TO ACCEPT MORTGAGE PAYMENTS TENDERED ON A MONTHLY, SEMIMONTHLY OR BIWEEKLY BASIS.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Banking Committee
Last action: 2026-03-23
Official status: File Number 121
Effective date: Not listed

Plain English Breakdown

The official status label indicates the bill passed both chambers, but the final executive action (governor's signature) is not explicitly shown in the provided text.

SB00217: New Rules for Mortgage Payment Schedules

This law requires mortgage lenders to accept payments made monthly, twice a month, or every two weeks on qualifying home loans starting October 1, 2026.

What This Bill Does

Requires mortgagees to accept bank checks, certified checks, attorney's clients' funds account checks, title insurance company checks, wire transfers, and other federally authorized payment forms.
Mandates that lenders must allow borrowers to pay their mortgages monthly, semimonthly, or biweekly for loans made on or after October 1, 2026.
Defines 'biweekly' as a payment schedule occurring every two weeks.
Defines 'semimonthly' as a payment schedule occurring twice each month.
Repeals the previous version of Section 49-8a(i) and replaces it with these new requirements.

Who It Names or Affects

Mortgagees, which include mortgage lenders, assignees, or servicers.
Borrowers who take out loans for one-to-four family residential properties in the state on or after October 1, 2026.

Terms To Know

Mortgagee: The lender, assignee, or servicer who holds the mortgage loan.
Biweekly: A payment schedule that happens every two weeks.
Semimonthly: A payment schedule that happens twice each month.

Limits and Unknowns

The law only applies to mortgage loans made on or after October 1, 2026.
The text does not specify if lenders can charge extra fees for processing these different payment schedules.

Bill History

2026-03-23 LCO
Reported Out of Legislative Commissioners' Office
2026-03-23 Connecticut General Assembly
Favorable Report, Tabled for the Calendar, Senate
2026-03-23 Connecticut General Assembly
Senate Calendar Number 94
2026-03-23 LCO
File Number 121
2026-03-16 LCO
Referred to Office of Legislative Research and Office of Fiscal Analysis 03/23/26 12:00 PM
2026-03-10 BA
Joint Favorable
2026-03-10 LCO
Filed with Legislative Commissioners' Office
2026-02-19 Connecticut General Assembly
Public Hearing 02/24
2026-02-18 Connecticut General Assembly
Referred to Joint Committee on Banking

Official Summary Text

To require mortgagees to accept mortgage payments tendered on a monthly, semimonthly or biweekly basis.

Current Bill Text

Read the full stored bill text

Senate
SB217 / File No. 121 1

General Assembly File No. 121
February Session, 2026 Senate Bill No. 217

Senate, March 23, 2026

The Committee on Banking reported through SEN. MILLER of
the 27th Dist., Chairperson of the Committee on the part of the
Senate, that the bill ought to pass.

AN ACT REQUIRING MORTGAGEES TO ACCEPT MORTGAGE
PAYMENTS TENDERED ON A MONTHLY, SEMIMONTHLY OR
BIWEEKLY BASIS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. Subsection (i) of section 49 -8a of the general statutes is 1
repealed and the following is substituted in lieu thereof (Effective October 2
1, 2026): 3
(i) (1) A mortgagee shall accept, as payment tendered for satisfaction 4
or partial satisfaction of a mortgage loan, a bank check, certified check, 5
attorney's clients' funds account check, title insurance company check, 6
wire transfer or any other form of payment authorized under federal 7
law. 8
(2) For mortgage loans made on or after October 1, 2026, a mortgagee 9
shall accept payment tendered by a mortgagor on a monthly, 10
semimonthly or biweekly basis. For purposes of this subdivision, 11
"biweekly" means occurring every two weeks and "semimonthly" 12
SB217 File No. 121

SB217 / File No. 121 2

means occurring twice each month. 13
This act shall take effect as follows and shall amend the following
sections:

Section 1 October 1, 2026 49-8a(i)

BA Joint Favorable

SB217 File No. 121

SB217 / File No. 121 3

The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of
the General Assembly, solely for purposes of information, summarization and explanation and do not
represent the intent of the General Assembly or either chamber thereof for any purpose. In general,
fiscal impacts are based upon a variety of informational sources, including the analyst’s professional
knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final
products do not necessarily reflect an assessment from any specific department.

OFA Fiscal Note

State Impact: None
Municipal Impact: None
Explanation
The bill requires mortgagees to accept mortgage payments tendered
on a monthly, semimonthly or biweekly basis and results in no fiscal
impact to the state as they are not parties to mortgage loans.

SB217 File No. 121

SB217 / File No. 121 4

OLR Bill Analysis
SB 217

AN ACT REQUIRING MORTGAGEES TO ACCEPT MORTGAGE
PAYMENTS TENDERED ON A MONTHLY, SEMIMONTHLY OR
BIWEEKLY BASIS.

SUMMARY
This bill requires, for any mortgage loan made beginning October 1,
2026, the mortgagee (mortgage lender, assignee, or servicer) to accept
the mortgagor’s (borrower’s) payments on a monthly, semimonthly, or
biweekly basis.
Under the bill, the requirement applies to loans securing one-to-four
family residential properties in the state, including units in common
interest communities. Semi-monthly payments happen twice a month
and biweekly payments happen every two weeks.
EFFECTIVE DATE: October 1, 2026
COMMITTEE ACTION
Banking Committee
Joint Favorable
Yea 13 Nay 0 (03/10/2026)