[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-277509-105":53,"doc-detail-277509-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","house-of-representatives-staff-analysis-bill-cshb-353-mortgage-payoff-letters","HOUSE OF REPRESENTATIVES STAFF ANALYSIS - Bill CS/HB 353 Mortgage Payoff Letters","","Staff analysis of Bill CS/HB 353 addresses mortgage payoff letters in Florida, including when they may be requested and what they must contain. Current law requires delivery within 14 days and mandates execution and recording of a mortgage satisfaction within 60 days after full payment. The bill reduces the delivery timeframe to 10 days, standardizes required contents, voids servicer or lender attempts to limit reliance, and allows corrected payoff letters under specified notice conditions.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/house-of-representatives-staff-analysis-bill-cshb-353-mortgage-payoff-letters/277509/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/house-of-representatives-staff-analysis-bill-cshb-353-mortgage-payoff-letters/277509.png","ImageObject",442,249,{"name":88,"@type":89},"Skyler","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-24","2026-09-15",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",7,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What is the purpose of a mortgage payoff letter under Florida law?","Question",{"text":109,"@type":110},"A mortgage payoff letter is requested so a mortgagor can sell, refinance, or pay off the property securing the mortgage. Florida law requires the lender or servicer to provide the unpaid balance within a set timeframe.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"What does CS/HB 353 change about the delivery deadline for payoff letters?",{"text":114,"@type":110},"CS/HB 353 reduces the timeframe from 14 days to 10 days after receipt of a written request.",{"name":116,"@type":107,"acceptedAnswer":117},"How does the bill treat payoff-letter language that attempts to limit reliance or reserve changes?",{"text":118,"@type":110},"The bill prohibits qualifying, reserving the right to change, conditioning, or disclaiming reliance on payoff-letter information; any attempt is void and unenforceable.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},277509,1790483849,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":47,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":73},2336464648746,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","HOUSE OF REPRESENTATIVES STAFF ANALYSIS  \nBILL \\#: CS/HB 353 Mortgage Payoff Letters  \nSPONSOR(S): Insurance & Banking Subcommittee, Fabricio  \nTIED BILLS: IDEN./SIM. BILLS: SB 1016  \n\n| REFERENCE | ACTION | ANALYST | STAFF DIRECTOR or BUDGET/POLICY CHIEF |\n| --- | --- | --- | --- |\n| 1) Insurance & Banking Subcommittee | 16 Y, 0 N, As CS | Hinshelwood | Luczynski |\n| 2) Civil Justice & Property Rights Subcommittee |  |  |  |\n| 3) Commerce Committee |  |  |  |\n\nSUMMARY ANALYSIS  \nA mortgage payoff letter may be requested, for example, by a mortgagor who is selling the property that is collateral for the mortgage loan, refinancing the mortgage loan, or paying off the mortgage loan. Florida law requires that a mortgage lender or servicer deliver to the requestor, within 14 days after receipt of a written request, a mortgage payoff letter setting forth the unpaid balance of the loan secured by the mortgage. When a mortgage loan has been fully paid, the mortgage lender or servicer must execute in writing an instrument acknowledging satisfaction of the mortgage and have the instrument acknowledged, or proven, and duly entered in the official records of the proper county. Within 60 days after receiving full payment of the mortgage loan, the mortgage lender or servicer must send the borrower the recorded satisfaction.  \nBill proponents have explained that some mortgage payoff letters include language reserving the mortgage servicer’s or lender’s right to change the amounts listed in the payoff letter and disclaiming the reliance of others on the information in the payoff letter. In the event that the mortgage lender or servicer determines after sending the mortgage payoff letter that the borrower owes additional money, bill proponents have said that some mortgage lenders or servicers return the funds received from the closing which were sent in reliance on the amount stated in the mortgage payoff letter. This results in the continued accrual of interest and potential fees during the pendency of resolving the discrepancy in amount owed. Further, prior to resolution of the discrepancy, there is not clear title to the property.  \nThe bill:  \n􀁸 Reduces from 14 days to 10 days the timeframe within which a lender or servicer must send a requested mortgage payoff letter.  \n􀁸 Standardizes the contents of the mortgage payoff letter as to all of the authorized requestors.  \n􀁸 Prohibits the lender or servicer from qualifying, reserving the right to change, or conditioning or disclaiming the reliance of others on the information provided in a mortgage payoff letter; any attempt to do so is void and unenforceable.  \n􀁸 Allows the lender or servicer to send a corrected mortgage payoff letter that will supersede any prior payoff letter so long as the corrected payoff letter is received by the end of normal business hours at least one business day before payment is made in reliance on the payoff letter.  \n􀁸 Prohibits the lender or servicer from denying the accuracy of the mortgage payoff letter as against any person who relied on it, but allows recovery of the sum owed from the borrower.  \n􀁸 Requires the lender or servicer to promptly apply payment received in reliance on the payoff letter.  \n􀁸 Specifies the process by which a mortgage payoff letter may be requested and sent.  \n􀁸 Requires the lender or servicer, within 60 days after the mortgage loan has been paid pursuant to the mortgage payoff letter, to execute, have duly entered in the official records of the proper county, and send to the mortgagor or record title owner an instrument acknowledging release of the mortgage (i.e. , a satisfaction of mortgage or a release of mortgage) .  \nThe bill has no fiscal impact on state and local governments and an indeterminate fiscal impact on the private sector. The bill provides an effective date of October 1, 2022.  \nFULL ANALYSIS  \nI. SUBSTANTIVE ANALYSIS  \nA. EFFECT OF PROPOSED CHANGES:  \nBackground  \nA mortgage payoff letter 1 may be requested, for ex","cbCaidsHearDs5YV","https://ap.wps.com/l/cbCaidsHearDs5YV","pdf",159814,"English","# SUMMARY ANALYSIS\n## Proposed changes to mortgage payoff letters\n# FULL ANALYSIS\n## Background and current requirements\n## Effects of the proposed changes","[{\"question\":\"What is the purpose of a mortgage payoff letter under Florida law?\",\"answer\":\"A mortgage payoff letter is requested so a mortgagor can sell, refinance, or pay off the property securing the mortgage. Florida law requires the lender or servicer to provide the unpaid balance within a set timeframe.\"},{\"question\":\"What does CS/HB 353 change about the delivery deadline for payoff letters?\",\"answer\":\"CS/HB 353 reduces the timeframe from 14 days to 10 days after receipt of a written request.\"},{\"question\":\"How does the bill treat payoff-letter language that attempts to limit reliance or reserve changes?\",\"answer\":\"The bill prohibits qualifying, reserving the right to change, conditioning, or disclaiming reliance on payoff-letter information; any attempt is void and unenforceable.\"}]","HOUSE OF REPRESENTATIVES STAFF ANALYSIS - Bill CS/HB 353 Mortgage Payoff Letters | PDF",1789501631]