S 731
An Act regulating certain mortgages
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill aims to regulate shared appreciation mortgage loans in Massachusetts. Shared appreciation mortgages are a type of loan where the loan balance increases as the property value increases, potentially creating a significant financial burden for borrowers. The legislation seeks to provide greater transparency and protections for borrowers entering into these agreements.
Key provisions
- Requires lenders to provide borrowers with clear and comprehensive disclosures about the terms of shared appreciation mortgages.
- Establishes standards for calculating the loan balance and interest rates associated with these loans.
- Addresses potential risks related to property value fluctuations and their impact on borrowers’ debt.
- May include provisions for borrower protections in the event of property value decline.
- Focuses on regulating shared appreciation mortgage loans.
- Requires the Financial Services Committee to study the impact of these loans.
- Mandates ongoing reporting requirements for lenders offering these mortgages.
Who is affected
- Massachusetts mortgage borrowers
- Lenders offering shared appreciation mortgages
- Financial Services industry
- Homeowners
Notable changes
- The bill specifically targets shared appreciation mortgage loans, which are not currently subject to extensive regulation.
Sponsors
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Primary sponsor
Cosponsors
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Bill S.731 194th (Current)
An Act regulating certain mortgages
By Ms. Edwards, a petition (accompanied by bill, Senate, No. 731) of Lydia Edwards for legislation to regulate shared appreciation mortgage loans. Financial Services.
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Bill Information
Bill Information
Presenter: Lydia Edwards Status: Referred to Joint Committee on Financial Services
Tabs
Bill History Petitioners Committee Summary Primary Sponsor Summary
Bill History
Displaying 9 actions for Bill S.731
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Financial Services |
| 2/27/2025 | House | House concurred |
| 11/7/2025 | Joint | Hearing scheduled for 11/18/2025 from 10:30 AM-01:00 PM in A-2 |
| 11/7/2025 | Joint | Hearing rescheduled to 11/18/2025 from 10:30 AM-01:00 PM in A-2 and Virtual Hearing updated to include Virtual |
| 11/14/2025 | Joint | Hearing rescheduled to 11/18/2025 from 10:30 AM-01:00 PM in A-2 and Virtual Hearing location changed |
| 11/18/2025 | Joint | Hearing rescheduled to 11/18/2025 from 10:30 AM-01:00 PM in A-2 and Virtual Hearing updated to New End Time |
| 11/18/2025 | Joint | Hearing rescheduled to 11/18/2025 from 10:30 AM-01:00 PM in A-2 and Virtual Hearing updated to New End Time |
| 11/18/2025 | Joint | Hearing rescheduled to 11/18/2025 from 10:30 AM-01:00 PM in A-2 and Virtual Hearing updated to New End Time |
| 4/21/2026 | Senate | Reporting date extended to Monday May 4, 2026 |
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