The civic record
Read. Follow. Verify.House Bill 5552 restricts mortgage prepayment fee limitations to loans made for personal, family, or household purposes
Last action · June 2, 2026: REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTIONSponsors: Mark Tisdel and 3 others
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What This Bill Would Do
House Bill 5552 specifies that existing statutory restrictions on mortgage prepayment fees and penalties apply exclusively to loans made primarily for personal, family, or household purposes. The measure amends section 1c of 1966 PA 326 (MCL 438.31c) to clarify how interest and fee caps interact with different types of financing.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
borrowers
mortgage lenders
Lenders issuing business-purpose mortgage loans gain flexibility in charging prepayment fees and penalties.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Does this bill affect residential home mortgages?
Who is impacted by the change in prepayment fee rules?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently passed both. The next step in the legislative lifecycle is Law.
Procedural history
13 actions- Jun 2, 2026SenateCommitteeREFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
- Jun 2, 2026SenateFloorPASSED BY HOUSE WITH IMMEDIATE EFFECT
- May 21, 2026Housetransmitted
- May 21, 2026HouseFloorpassed; given immediate effect Roll Call #164 Yeas 81 Nays 26 Excused 0 Not Voting 3
- May 21, 2026HouseFloorread a third time
- Apr 29, 2026Houseplaced on third reading
Show 7 earlier actions
- Apr 29, 2026HouseFloorread a second time
- Mar 17, 2026Housereferred to second reading
- Mar 17, 2026HouseCommitteereported with recommendation without amendment
- Feb 24, 2026Housebill electronically reproduced 02/19/2026
- Feb 19, 2026HouseCommitteereferred to Committee on Finance
- Feb 19, 2026HouseIntroducedread a first time
- Feb 19, 2026HouseIntroducedintroduced by Representative Rep. Mark Tisdel
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Connected Entities
Sources
legislature.mi.gov
Analysis Score
0–100- Significance45How much this matters to a regular citizen
- Controversy20Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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