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Minnesota Legislature

Office of the Revisor of Statutes

MORTGAGES

See also CONVEYANCES; MORTGAGE CORPORATIONS; MORTGAGE GUARANTY INSURANCE; MORTGAGE REGISTRY TAXES; REAL PROPERTY; TRACT INDEXES

"Churning," residential mortgage loans, Minn. Statutes 2013 58.13, 2013 58.18

"Special mortgages," Minn. Statutes 2013 58.13

Accelerated mortgage payment providers

Accounts and accounting, Minn. Statutes 2013 332.303

Background checks, Minn. Statutes 2013 332.301

Bond requirements, Minn. Statutes 2013 332.30

Debt management services providers, exclusion, Minn. Statutes 2013 332A.02

Definitions, Minn. Statutes 2013 332A.02

Generally, Minn. Statutes 2013 332.302

Adverse claims to real property, Minn. Statutes 2013 559.17 to 2013 559.19

Advertisement of terms, Minn. Statutes 2013 47.206

Affidavits, filing or recording, mortgage registry taxes, Minn. Statutes 2013 287.05

Amendments

Deed taxes, exemption, Minn. Statutes 2013 287.22

Form, Minn. Statutes 2013 287.05

Mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Armories

Armory Building Commission, securing, conditions, Minn. Statutes 2013 193.147

Mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Assignees defined as purchasers, recording conveyances, Minn. Statutes 2013 507.01

Assignment

Corporate identity changes, Minn. Statutes 2013 507.411

Deed taxes, exemption, Minn. Statutes 2013 287.22

Defined as conveyance, Minn. Statutes 2013 507.01

Generally, Minn. Statutes 2013 47.205

Recorded assignment, Minn. Statutes 2013 287.10, 2013 507.32

Assumptions, Minn. Statutes 2013 47.20

Background checks, accelerated mortgage payment providers, Minn. Statutes 2013 332.301

Banks with trust powers, investment powers, Minn. Statutes 2013 48A.08

Bills of lading, negotiating bills with mortgages, fines, Minn. Statutes 2013 228.48

Business corporations, rights, powers of corporation regarding, Minn. Statutes 2013 302A.161

Canada, investments in, insurance companies, Minn. Statutes 2013 60A.11

Certificates of release of mortgage, Minn. Statutes 2013 507.401

Certificates of release or partial release of lien, Minn. Statutes 2013 507.403

Certificates of satisfaction by assignee, Minn. Statutes 2013 507.403

Certified copies, discharges, recording, Minn. Statutes 2013 507.40

Chattel mortgages, see CHATTEL MORTGAGES

Claims secured by, defined as credits, Minn. Statutes 2013 272.03

Commercial mortgage activities, residential mortgage originator and servicer licenses, exemptions, Minn. Statutes 2013 58.05

Commercial mortgage loans

Definitions, Minn. Statutes 2013 60A.121

Insurance companies, Minn. Statutes 2013 60A.122, 2013 60A.123, 2013 60A.1285, 2013 60A.1291

Community land trusts, Minn. Statutes 2013 462A.31

Condominiums, Minn. Statutes 2013 515.02

Conflicts of interest, Rural Finance Authority, members or employees, Minn. Statutes 2013 41C.11

Construction mortgages

Defined, Minn. Statutes 2013 336.2A-309, 2013 336.9-102

Security interests, perfection and priority, Minn. Statutes 2013 336.9-334

Cooperative apartment loans

Assignment or sale, Minn. Statutes 2013 47.206

Discount point agreements, Minn. Statutes 2013 47.206

Generally, Minn. Statutes 2013 47.20

Graduated payment home loans, Minn. Statutes 2013 47.201

Insurance rates, Minn. Statutes 2013 47.20, 2013 47.206

Cooperative associations

Corporate powers, Minn. Statutes 2013 308A.201

Rights, powers of association regarding, Minn. Statutes 2013 308B.301

Cooperative power associations, Minn. Statutes 2013 507.327

Covenants, short form mortgages, Minn. Statutes 2013 507.15

Damages, failure to discharge, Minn. Statutes 2013 507.41

Deed taxes, exemptions, Minn. Statutes 2013 287.22

Defeating security, violations and penalties, Minn. Statutes 2013 609.615

Deficiency judgment, Minn. Statutes 2013 582.30

Definitions

Certificates of release of mortgage, Minn. Statutes 2013 507.401

Commercial Code, Minn. Statutes 2013 336.2A-309, 2013 336.9-102

Guardianship and protective proceedings, Minn. Statutes 2013 524.5-418

Housing Finance Agency, Minn. Statutes 2013 462A.03

Insurance law, Minn. Statutes 2013 60A.121

MFIP, Minn. Statutes 2013 256J.08

Mortgage registry tax, Minn. Statutes 2013 287.01

Municipal housing programs, Minn. Statutes 2013 462C.02

Partnerships, Minn. Statutes 2013 323A.0101

Residential Mortgage Originator and Servicer Licensing Act, Minn. Statutes 2013 58.02

Statutory construction, Minn. Statutes 2013 645.44

Uniform Probate Code, Minn. Statutes 2013 524.1-201

Delinquent mortgage loans, insurance companies, Minn. Statutes 2013 60A.123, 2013 60A.127

Descriptions of property, misdescription, correction instruments, mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Discharge, certified copies, electronic records, Minn. Statutes 2013 507.40

Disclosures, interest rate or discount point agreements, Minn. Statutes 2013 47.206

Discount point agreements, Minn. Statutes 2013 47.20, 2013 47.206

Discriminatory provisions restricting conveyance of real property, Minn. Statutes 2013 507.18

Distressed mortgage loans

Defined, Minn. Statutes 2013 60A.121

Insurance companies, Minn. Statutes 2013 60A.123, 2013 60A.127

Dual tracking, loss mitigation applications, stay of foreclosure process, Minn. Statutes 2013 582.043

Eligibility, Minn. Statutes 2013 41C.05

Escrow accounts, Minn. Statutes 2013 47.20, 2013 47.205

Evidence, Minn. Statutes 2013 287.10, 2013 507.403, 2013 507.411

Extensions

Deed taxes, exemption, Minn. Statutes 2013 287.22

Mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Farms, drafting, Minn. Statutes 2013 481.02

Federal preemption

Limitations on interest and other charges, Minn. Statutes 2013 47.204

Override, Minn. Statutes 2013 47.203

Finance charges, precomputed, refunds, Minn. Statutes 2013 47.20

Fines

Cooperative apartment loans, unlawful interest rates, Minn. Statutes 2013 47.20

Satisfaction of mortgage, failure to deliver, Minn. Statutes 2013 47.208

First mortgages, investment companies, assets, types permitted, Minn. Statutes 2013 54.27

Fixture filing, defined, Minn. Statutes 2013 336.2A-309

Foreclosure, see Mortgages under FORECLOSURE

Foreign corporations

Business transactions, exceptions, Minn. Statutes 2013 303.03

Violations, effect, Minn. Statutes 2013 303.17

Forms

Amendments, Minn. Statutes 2013 287.05

Conveyances, Minn. Statutes 2013 507.09

Drafters, inclusion of names and addresses, Minn. Statutes 2013 507.091

Multistate mortgages, Minn. Statutes 2013 287.05

Real property in Minnesota, security for, Minn. Statutes 2013 287.05

Short form mortgages, Minn. Statutes 2013 507.15

Fraternal benefit societies, mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Fraud, residential mortgage fraud, Minn. Statutes 2013 609.822

Gambling debts, mortgage void, Minn. Statutes 2013 541.21

Gas companies, Minn. Statutes 2013 507.327

Graduated payment home loans, Minn. Statutes 2013 47.201

Grantees, power to sell land, Minn. Statutes 2013 502.77

High-risk mortgage-backed securities, investments in, public funds (local), exclusions, Minn. Statutes 2013 118A.04

Housing projects in blighted areas, security, Minn. Statutes 2013 469.012

Implied covenants, Minn. Statutes 2013 507.16

Industrial development projects, see Mortgages under INDUSTRIAL DEVELOPMENT DISTRICTS

Insurance companies

Definitions, Minn. Statutes 2013 60A.121

Direct write-downs, Minn. Statutes 2013 60A.123, 2013 60A.1285

Fire insurance settlement proceeds, release to mortgagee, Minn. Statutes 2013 65A.50

Generally, Minn. Statutes 2013 60A.127

Impairment, measurement, Minn. Statutes 2013 60A.123

Investments, Minn. Statutes 2013 60A.11

Life insurance companies, Minn. Statutes 2013 61A.09, 2013 61A.28

Losses, permanent impairments, realized losses, Minn. Statutes 2013 60A.1285

Valuation, Minn. Statutes 2013 60A.123

Insurance

Excess insurance, Minn. Statutes 2013 65A.09, 2013 72A.31

Group accidental death and disability income insurance policies, Minn. Statutes 2013 62A.10

Group life insurance policies, provisions, Minn. Statutes 2013 61A.09

Guaranty insurance, see MORTGAGE GUARANTY INSURANCE

Premiums, Minn. Statutes 2013 47.20

Private mortgage insurance, Minn. Statutes 2013 47.207

Reverse mortgages, Minn. Statutes 2013 47.58

Interest rate agreements, Minn. Statutes 2013 47.206

Interest

Business expenses allowed, MFIP self-employed participants, Minn. Statutes 2013 256J.37

Conventional mortgage loans, Minn. Statutes 2013 47.20

Limitations, Minn. Statutes 2013 47.204

Reverse mortgages, mortgage registry tax, exemption, Minn. Statutes 2013 287.05

Investment grade, Minn. Statutes 2013 58.13

Investments in

Housing Finance Agency, powers, Minn. Statutes 2013 462A.05

Insurance companies, Minn. Statutes 2013 60A.11

Investment Board, Minn. Statutes 2013 11A.24

Public funds (local), Minn. Statutes 2013 118A.04

Public retirement plans, Minn. Statutes 2013 356A.06

Savings banks, Minn. Statutes 2013 50.14

Joint tenants, satisfaction or release, Minn. Statutes 2013 507.412

Land registration, see Mortgages under LAND REGISTRATION

Life insurance companies

Group life insurance, policies, Minn. Statutes 2013 61A.09

Loans secured by mortgages, investments, Minn. Statutes 2013 61A.28

Limited liability companies, see Mortgages under LIMITED LIABILITY COMPANIES

Long-term residential housing mortgage loans, Housing Finance Agency, powers, Minn. Statutes 2013 462A.05

Mail and mailing, satisfaction of mortgage, certified mail, Minn. Statutes 2013 47.208

Manufactured homes, repossession, Minn. Statutes 2013 327.63

Minerals, conveyances, recording, Minn. Statutes 2013 507.36

Modifications, effect on mortgage registry taxes, Minn. Statutes 2013 287.05

Mortgage brokers

Agency, duties, Minn. Statutes 2013 58.16, 2013 58.161

Fees paid to, Minn. Statutes 2013 58.137, 2013 58.16

Lawsuits against, Minn. Statutes 2013 58.18

Reverse mortgages, limitations, Minn. Statutes 2013 47.58

Mortgage certificate program, Housing Finance Agency, powers, Minn. Statutes 2013 462A.05

Mortgage credit certificate programs

Definitions, Minn. Statutes 2013 462C.02

Generally, Minn. Statutes 2013 462C.11

Mortgage liens

Certificates of release or partial release of lien, Minn. Statutes 2013 507.403

Junior liens, voluntary foreclosures, Minn. Statutes 2013 582.32

Subdivided land sales, Minn. Statutes 2013 83.40

Mortgage loan originators, residential, see RESIDENTIAL MORTGAGE ORIGINATORS AND SERVICERS

Mortgage loans

Agricultural property, mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Applications, credit inquiries arising from, Minn. Statutes 2013 13C.01

Commercial mortgage loans, see same under this topic

Definitions, Minn. Statutes 2013 56.001

Farmers Home Administration, see FARMERS HOME ADMINISTRATION (FMHA)

Federal Home Loan Mortgage Corporation, see FEDERAL HOME LOAN MORTGAGE CORPORATION (FREDDIE MAC)

Federal National Mortgage Association, see FEDERAL NATIONAL MORTGAGE ASSOCIATION (FANNIE MAE)

Group life insurance policies, provisions, Minn. Statutes 2013 61A.09

Housing and Urban Development Department (U.S.), see HOUSING AND URBAN DEVELOPMENT DEPARTMENT (U.S.)

Housing Finance Agency, see Mortgage loans under HOUSING FINANCE AGENCY LOANS AND GRANTS

Improved real estate, banks, liability, Minn. Statutes 2013 48.24

Low and moderate income/affordable housing programs, mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Renegotiable rate mortgage loans, Minn. Statutes 2013 50.14

Reverse mortgages, see same under this topic

Veterans Administration, see VETERANS ADMINISTRATION (U.S.)

Mortgage trustees, Minn. Statutes 2013 48A.07

Mortgagees

Advances by, mortgage registry taxes, exemption, Minn. Statutes 2013 287.05

Definitions, Minn. Statutes 2013 47.20, 2013 507.401

Delinquent property taxes, filing to receive notice, Minn. Statutes 2013 276.041

Fiduciary duties, mortgage registry taxes, collection and remittance, Minn. Statutes 2013 287.08

Foreclosure consultants, exclusion, Minn. Statutes 2013 325N.01

Fraternal benefit societies, mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Land acquired by foreclosure, hazardous substances releases, responsible persons, Minn. Statutes 2013 115B.03

Notice received, fire insurance, final settlement, partial withholding, Minn. Statutes 2013 65A.50

Payments to, fire insurance settlement proceeds, Minn. Statutes 2013 65A.50

Private transfer fee obligations, liability, Minn. Statutes 2013 513.75

Property taxes, payment, notice given, Minn. Statutes 2013 272.435

Public nuisances, definitions, Minn. Statutes 2013 617.80

Tax liens, enforcement, filing of notice, Minn. Statutes 2013 270C.63

Mortgagors

Liability, wrongful or erroneous certificates of release of mortgage, Minn. Statutes 2013 507.401

Note owner information from transaction agents or servicers, Minn. Statutes 2013 58.162

Notice received, property taxes, payment, Minn. Statutes 2013 272.435

Residential real estate closings, Minn. Statutes 2013 507.45

Multistate mortgages, mortgage registry taxes, see MORTGAGE REGISTRY TAXES

Municipal gas agencies, Minn. Statutes 2013 453A.04, 2013 453A.05

Municipal power agencies, Minn. Statutes 2013 453.54, 2013 453.55

Nationwide Mortgage Licensing System and Registration, see under RESIDENTIAL MORTGAGE ORIGINATORS AND SERVICERS

Nonprofit corporations, Minn. Statutes 2013 317A.161, 2013 317A.305, 2013 317A.671

Notice

Recitals of unrecorded mortgages, Minn. Statutes 2013 507.332

Recording deemed notice, Minn. Statutes 2013 507.32, 2013 507.325

Ores, conveyances, recording, Minn. Statutes 2013 507.36

Owners, affidavits

Deed taxes, see DEED TAXES

Mortgage registry taxes, payment, Minn. Statutes 2013 287.11

Partial release, deed taxes, exemption, Minn. Statutes 2013 287.22

Payments

Charges against principal, Uniform Principal and Income Act, Minn. Statutes 2013 501B.71

Reverse mortgages, Minn. Statutes 2013 47.58, 2013 287.05

Performing mortgage loans, insurance companies, valuation, Minn. Statutes 2013 60A.123

Pipeline companies, Minn. Statutes 2013 507.327, 2013 507.328

Plain Language Contract Act, exemption, Minn. Statutes 2013 325G.30

Power companies, Minn. Statutes 2013 507.327

Power to make, generally, Minn. Statutes 2013 47.20

Precomputed loans, finance charges, refunds, Minn. Statutes 2013 47.20

Predatory lending practices, residential mortgage loans, Minn. Statutes 2013 58.13, 2013 58.18, 2013 609.822

Prepayment penalties

Eminent domain, Minn. Statutes 2013 117.087

Restrictions, Minn. Statutes 2013 58.137

Private mortgage insurance, Minn. Statutes 2013 47.207

Probate, mortgages defined, Minn. Statutes 2013 524.1-201

Public property, exemptions, Minn. Statutes 2013 287.04

Public retirement plans, loans secured by mortgages, investment in, Minn. Statutes 2013 356.64

Public service corporations, Minn. Statutes 2013 301B.04, 2013 301B.05

Public utilities, Minn. Statutes 2013 507.327

Purchase money real estate mortgages, see PURCHASE MONEY REAL ESTATE MORTGAGES

Purchase, mortgage defined as, Minn. Statutes 2013 336.1-201, 2013 336.2A-103

Railroads, Minn. Statutes 2013 222.13, 2013 222.18

Real estate mortgage investment conduit, ownership of interest, income and franchise taxes, exceptions, Minn. Statutes 2013 290.015

Real estate mortgages, defined as encumbrances, Minn. Statutes 2013 336.2A-309

Real property subject to taconite and iron sulfides taxes, mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Real property, nonjoinder of spouse, effect, Minn. Statutes 2013 507.03

Receiverships, Minn. Statutes 2013 576.25

Recitals

Disregarding, Minn. Statutes 2013 507.33, 2013 507.331

Unrecorded mortgages, Minn. Statutes 2013 507.332

Recording

Corporate identity changes, Minn. Statutes 2013 507.411

County recorders, duties, Minn. Statutes 2013 386.39

Defined, Minn. Statutes 2013 287.01

Mortgage registry taxes, payment, Minn. Statutes 2013 287.10

Records, financing statements, mortgage records as, Minn. Statutes 2013 336.9-502

Refinancing mortgages, Housing Finance Agency, powers, Minn. Statutes 2013 462A.05

Refunds, precomputed finance charges, Minn. Statutes 2013 47.20

Registration

Electronic documents, Minn. Statutes 2013 287.08

Fees, Minn. Statutes 2013 40A.151, 2013 40A.152

Taxes, see MORTGAGE REGISTRY TAXES

Regulated lenders, see Mortgages under REGULATED LENDERS

Religious corporations, see Mortgages under RELIGIOUS CORPORATIONS

Renegotiable rate mortgage loans, Minn. Statutes 2013 50.14

Rescission, reverse mortgages, Minn. Statutes 2013 47.58

Residences, drafting, Minn. Statutes 2013 481.02

Residential mortgage fraud, Minn. Statutes 2013 609.822

Residential mortgage loans

Defined, Minn. Statutes 2013 47.207

Interest rates, Minn. Statutes 2013 58.16

Predatory lending practices, Minn. Statutes 2013 58.13, 2013 58.18, 2013 609.822

Rates, fully indexed rate, Minn. Statutes 2013 58.02

Residential mortgage originators and servicers, Minn. Statutes 2013 58.125, 2013 58.13

S.A.F.E. Mortgage Licensing Act, Minn. Statutes 2013 58A.01 to 2013 58A.22

Residential mortgage originators and servicers, Minn. Statutes 2013 58.01 to 2013 58.19, 2013 60K.43

Restrictions, discriminatory provisions restricting conveyance of real property, Minn. Statutes 2013 507.18

Restructured mortgage loans, insurance companies, Minn. Statutes 2013 60A.123, 2013 60A.127

Retail installment contracts, Motor Vehicle Retail Installment Sales Act, Minn. Statutes 2013 53C.01

Reverse mortgages

Authorized, Minn. Statutes 2013 47.20

Federally administered mortgages, tax exemption, Minn. Statutes 2013 287.05

Generally, Minn. Statutes 2013 47.58

Interest, Minn. Statutes 2013 47.58, 2013 287.05

Lender default, Minn. Statutes 2013 47.58

MFIP, income, exclusion, Minn. Statutes 2013 256J.21

Mortgage registry taxes, see MORTGAGE REGISTRY TAXES

Proceeds, disregards, Minn. Statutes 2013 256.99

Residential mortgage originators and servicers, Minn. Statutes 2013 58.19

Revolving lines of credit secured by

Mortgage registry tax, Minn. Statutes 2013 287.05

Recording, notice to parties, Minn. Statutes 2013 507.325

Rural development financing authorities, powers, Minn. Statutes 2013 469.146

Rural Finance Authority, seller-sponsored loans, security, Minn. Statutes 2013 41B.042

Rural water user districts, property, Minn. Statutes 2013 110A.33, 2013 110A.34

Satisfaction

Certificates of release of mortgage, Minn. Statutes 2013 507.401

Certificates of satisfaction by assignee, Minn. Statutes 2013 507.403

Conveyancing forms, Minn. Statutes 2013 507.09, 2013 507.091

Corporate identity changes, Minn. Statutes 2013 507.411

Deed taxes, exemption, Minn. Statutes 2013 287.22

Delivery, Minn. Statutes 2013 47.208

Failure to discharge, Minn. Statutes 2013 507.41

Procedure, Minn. Statutes 2013 507.40

Recording, mortgage registry tax payments, Minn. Statutes 2013 287.10

Release by fewer than all mortgagees, Minn. Statutes 2013 507.412

Violations and penalties, failure to deliver, Minn. Statutes 2013 47.208

Secured transactions, see Mortgages under SECURED TRANSACTIONS

Securities, exemptions, Minn. Statutes 2013 83.26

Security

Agricultural improvement programs, direct loans, Minn. Statutes 2013 41B.043

Agricultural resource project loans, Minn. Statutes 2013 41A.03

Inapplicable laws, Minn. Statutes 2013 47.21

Instruments, mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Livestock expansion loans, Minn. Statutes 2013 41B.045

Multistate mortgages, Minn. Statutes 2013 287.05

Real property in Minnesota, Minn. Statutes 2013 287.05

Selling mortgaged real estate, Minn. Statutes 2013 47.20

Semitaconite mining companies, Minn. Statutes 2013 507.327

Senior citizens' property tax deferral program, Minn. Statutes 2013 290B.03, 2013 290B.04

Seven-day cooling off period, reverse mortgages, Minn. Statutes 2013 47.58

Share of future appreciation, regulating, Minn. Statutes 2013 47.20

Shelter costs, mortgages defined as, Minn. Statutes 2013 256J.08

Successors in interest, savings banks, Minn. Statutes 2013 50.1485

Supplemental mortgages, see MORTGAGE REGISTRY TAXES

Taconite mining companies, Minn. Statutes 2013 507.327

Tax-exempt property, mortgages on, mortgage registry taxes, exemption, Minn. Statutes 2013 287.04

Taxes, see MORTGAGE REGISTRY TAXES

Telegraph companies

Bonds secured by, Minn. Statutes 2013 222.141

Recording requirements, Minn. Statutes 2013 222.18

Telephone companies

Bonds secured by, Minn. Statutes 2013 222.141

Generally, Minn. Statutes 2013 507.327

Timber, conveyances, recording, Minn. Statutes 2013 507.36

Transfer statements, see under SECURED TRANSACTIONS

Transfers, mortgages defined as, Minn. Statutes 2013 323A.0101

Trust companies, investment powers, Minn. Statutes 2013 48A.08

Trusts

Assets, generally, Minn. Statutes 2013 501B.46 to 2013 501B.57

Trustees, enumerated powers, Minn. Statutes 2013 501B.81

Uniform Short Form Mortgage Act, Minn. Statutes 2013 507.15

Unrecorded mortgages, recitals, notice, generally, Minn. Statutes 2013 507.332

Usury, Minn. Statutes 2013 47.20

Validity, mortgage registry tax, errors, Minn. Statutes 2013 287.10

Veterans administration, secured mortgages, savings banks, purchasing, selling, Minn. Statutes 2013 50.155

Violations and penalties

Cooperative apartment loans, unlawful interest rates, Minn. Statutes 2013 47.20

Discount point agreements, Minn. Statutes 2013 47.206

Failure to discharge, damages, Minn. Statutes 2013 507.41

Interest rate agreements, Minn. Statutes 2013 47.206

Predatory lending, Minn. Statutes 2013 609.822

Unlawful interest rates, Minn. Statutes 2013 47.20

Waivers, Minn. Statutes 2013 47.20

Warehouse receipts, negotiating without disclosing mortgage, Minn. Statutes 2013 227.55