Business-Purpose Mortgage Prepayment Penalties
Current understanding
To be populated as evidence accumulates.
Evidence log
- 2026-05-21 — Consumer credit: interest rates; prepayment penalties on certain mortgage loans made for business purposes; allow. Amends sec. 1c of 1966 PA 326 (MCL 438.31c).: HB 5552 (passed chamber) would amend MCL 438.31c (sec. 1c of 1966 PA 326) to allow prepayment penalties on certain mortgage loans made for business purposes. (novelty: 2)
Open questions
Related
Contributing findings
Consumer credit: interest rates; prepayment penalties on certain mortgage loans made for business purposes; allow. Amends sec. 1c of 1966 PA 326 (MCL 438.31c).
21-may-2026
novelty 2
per-area 2
introduces