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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 2007 58.13, 2007 58.18

"Special mortgages," Minn. Statutes 2007 58.13

Accelerated mortgage payment providers

Accounts and accounting, Minn. Statutes 2007 332.303

Background checks, Minn. Statutes 2007 332.301

Bond requirements, Minn. Statutes 2007 332.30

Debt management services providers, exclusion, Minn. Statutes 2007 332A.02

Definitions, Minn. Statutes 2007 332A.02

Generally, Minn. Statutes 2007 332.302

Acknowledgments of, power to take, Minn. Statutes 2007 359.05

Adverse claims to real property, Minn. Statutes 2007 559.17 to 2007 559.19

Advertisement of terms, Minn. Statutes 2007 47.206

Affidavits, filing or recording, mortgage registry taxes, Minn. Statutes 2007 287.05

Amendments

Deed taxes, exemption, Minn. Statutes 2007 287.22

Form, Minn. Statutes 2007 287.05

Mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Armories

Armory Building Commission, securing, conditions, Minn. Statutes 2007 193.147

Mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Assignees defined as purchasers

Recording conveyances, Minn. Statutes 2007 507.01

Assignment

Corporate identity changes, Minn. Statutes 2007 507.411

Deed taxes, exemption, Minn. Statutes 2007 287.22

Defined as conveyance, Minn. Statutes 2007 507.01

Generally, Minn. Statutes 2007 47.205

Recorded assignment, Minn. Statutes 2007 287.10, 2007 507.32

Assumptions, Minn. Statutes 2007 47.20

Background checks

Accelerated mortgage payment providers, Minn. Statutes 2007 332.301

Banks with trust powers, investment powers, Minn. Statutes 2007 48A.08

Bills of lading, negotiating bills with mortgages, fines, Minn. Statutes 2007 228.48

Business corporations

Rights, powers of corporation regarding, Minn. Statutes 2007 302A.161

Canada, investments in, insurance companies, Minn. Statutes 2007 60A.11

Certificates of release of mortgage, Minn. Statutes 2007 507.401

Certificates of satisfaction by assignee, Minn. Statutes 2007 507.403

Certified copies

Certificates of satisfaction by assignee, recording, Minn. Statutes 2007 507.403

Discharges, recording, Minn. Statutes 2007 507.40

Chattel mortgages, see CHATTEL MORTGAGES

Claims secured by, defined as credits, Minn. Statutes 2007 272.03

Commercial mortgage activities, residential mortgage originator and servicer licenses, exemptions, Minn. Statutes 2007 58.05

Commercial mortgage loans

Definitions, Minn. Statutes 2007 60A.121

Insurance companies, Minn. Statutes 2007 60A.122, 2007 60A.123, 2007 60A.1285

Condominiums, Minn. Statutes 2007 515.02

Conflicts of interest

Rural Finance Authority, members or employees, Minn. Statutes 2007 41C.11

Construction mortgages

Defined, Minn. Statutes 2007 336.2A-309, 2007 336.9-102

Security interests, perfection and priority, Minn. Statutes 2007 336.9-334

Cooperative apartment loans

Assignment or sale, Minn. Statutes 2007 47.206

Discount point agreements, Minn. Statutes 2007 47.206

Generally, Minn. Statutes 2007 47.20

Graduated payment home loans, Minn. Statutes 2007 47.201

Insurance rates, Minn. Statutes 2007 47.20, 2007 47.206

Cooperative associations

Corporate powers, Minn. Statutes 2007 308A.201

Rights, powers of association regarding, Minn. Statutes 2007 308B.301

Cooperative power associations, Minn. Statutes 2007 507.327

Covenants, short form mortgages, Minn. Statutes 2007 507.15

Damages, failure to discharge, Minn. Statutes 2007 507.41

Debt prorating companies, violations, Minn. Statutes 2007 332.24, 2007 332.26

Deed taxes, exemptions, Minn. Statutes 2007 287.22

Defeating security, violations and penalties, Minn. Statutes 2007 609.615

Deficiency judgment, Minn. Statutes 2007 582.30

Definitions

Certificates of release of mortgage, Minn. Statutes 2007 507.401

Collection agencies, Minn. Statutes 2007 332.13

Commercial Code, Minn. Statutes 2007 336.2A-309, 2007 336.9-102

Housing Finance Agency, Minn. Statutes 2007 462A.03

Insurance law, Minn. Statutes 2007 60A.121

MFIP, Minn. Statutes 2007 256J.08

Mortgage registry tax, Minn. Statutes 2007 287.01

Municipal housing programs, Minn. Statutes 2007 462C.02

Partnerships, Minn. Statutes 2007 323A.0101

Residential Mortgage Originator and Servicer Licensing Act, Minn. Statutes 2007 58.02

Statutory construction, Minn. Statutes 2007 645.44

Uniform Probate Code, Minn. Statutes 2007 524.1-201

Delinquent mortgage loans, insurance companies, Minn. Statutes 2007 60A.123, 2007 60A.127

Descriptions of property, misdescription, correction instruments

Mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Discharge, certified copies, Minn. Statutes 2007 507.40

Disclosures, interest rate or discount point agreements, Minn. Statutes 2007 47.206

Discount point agreements, Minn. Statutes 2007 47.20, 2007 47.206

Discriminatory provisions restricting conveyance of real property, Minn. Statutes 2007 507.18

Distressed mortgage loans

Defined, Minn. Statutes 2007 60A.121

Insurance companies, Minn. Statutes 2007 60A.123, 2007 60A.127

Eligibility, Minn. Statutes 2007 41C.05

Escrow accounts, Minn. Statutes 2007 47.20, 2007 47.205

Evidence, Minn. Statutes 2007 287.10, 2007 507.403, 2007 507.411

Extensions

Deed taxes, exemption, Minn. Statutes 2007 287.22

Mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Farms, drafting, Minn. Statutes 2007 481.02

Federal preemption

Limitations on interest and other charges, Minn. Statutes 2007 47.204

Override, Minn. Statutes 2007 47.203

Finance charges, precomputed, refunds, Minn. Statutes 2007 47.20

Fines

Cooperative apartment loans, unlawful interest rates, Minn. Statutes 2007 47.20

Satisfaction of mortgage, failure to deliver, Minn. Statutes 2007 47.208

First mortgages

Investment companies, assets, types permitted, Minn. Statutes 2007 54.27

Fixture filing, defined, Minn. Statutes 2007 336.2A-309

Foreclosure, see Mortgages under FORECLOSURE

Foreign corporations

Business transactions, exceptions, Minn. Statutes 2007 303.03

Violations, effect, Minn. Statutes 2007 303.17

Forms

Amendments, Minn. Statutes 2007 287.05

Conveyances, Minn. Statutes 2007 507.09

Drafters, inclusion of names and addresses, Minn. Statutes 2007 507.091

Multistate mortgages, Minn. Statutes 2007 287.05

Real property in Minnesota, security for, Minn. Statutes 2007 287.05

Short form mortgages, Minn. Statutes 2007 507.15

Fraternal benefit societies

Mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Fraud, residential mortgage fraud, Minn. Statutes 2007 609.822

Gambling debts, mortgage void, Minn. Statutes 2007 541.21

Gas companies, Minn. Statutes 2007 507.327

Graduated payment home loans, Minn. Statutes 2007 47.201

Grantees, power to sell land, Minn. Statutes 2007 502.77

High-risk mortgage-backed securities

Investments in, public funds (local), exclusions, Minn. Statutes 2007 118A.04

Housing projects in blighted areas, security, Minn. Statutes 2007 469.012

Implied covenants, Minn. Statutes 2007 507.16

Industrial development projects, see Mortgages under INDUSTRIAL DEVELOPMENT DISTRICTS

Insurance companies

Definitions, Minn. Statutes 2007 60A.121

Direct write-downs, Minn. Statutes 2007 60A.123, 2007 60A.1285

Fire insurance settlement proceeds, release to mortgagee, Minn. Statutes 2007 65A.50

Generally, Minn. Statutes 2007 60A.127

Impairment, measurement, Minn. Statutes 2007 60A.123

Investments, Minn. Statutes 2007 60A.11

Life insurance companies, Minn. Statutes 2007 61A.09, 2007 61A.28

Losses, permanent impairments, realized losses, Minn. Statutes 2007 60A.1285

Valuation, Minn. Statutes 2007 60A.123

Insurance

Excess insurance, Minn. Statutes 2007 65A.09, 2007 72A.31

Group accidental death and disability income insurance policies, Minn. Statutes 2007 62A.10

Group life insurance policies, provisions, Minn. Statutes 2007 61A.09

Guaranty insurance, see MORTGAGE GUARANTY INSURANCE

Premiums, Minn. Statutes 2007 47.20

Private mortgage insurance, Minn. Statutes 2007 47.207

Interest rate agreements, Minn. Statutes 2007 47.206

Interest

Business expenses allowed, MFIP self-employed participants, Minn. Statutes 2007 256J.37

Conventional mortgage loans, Minn. Statutes 2007 47.20

Limitations, Minn. Statutes 2007 47.204

Reverse mortgages, mortgage registry tax, exemption, Minn. Statutes 2007 287.05

Investment grade, Minn. Statutes 2007 58.13

Investments in

Housing Finance Agency, powers, Minn. Statutes 2007 462A.05

Institutional funds, Minn. Statutes 2007 309.65

Insurance companies, Minn. Statutes 2007 60A.11

Investment Board, Minn. Statutes 2007 11A.24

Public funds (local), Minn. Statutes 2007 118A.04

Public retirement plans, Minn. Statutes 2007 356A.06

Savings banks, Minn. Statutes 2007 50.14

Joint tenants, satisfaction or release, Minn. Statutes 2007 507.412

Land registration, see Mortgages under LAND REGISTRATION

Life insurance companies

Group life insurance, policies, Minn. Statutes 2007 45.0293, 2007 61A.09

Loans secured by mortgages, investments, Minn. Statutes 2007 61A.28

Limited liability companies, see Mortgages under LIMITED LIABILITY COMPANIES

Long-term residential housing mortgage loans

Housing Finance Agency, powers, Minn. Statutes 2007 462A.05

Mail and mailing, satisfaction of mortgage, certified mail, Minn. Statutes 2007 47.208

Manufactured homes, repossession, Minn. Statutes 2007 327.63

Minerals, conveyances, recording, Minn. Statutes 2007 507.36

Minneapolis Employees Retirement Fund

Loans secured by mortgages, investment in, Minn. Statutes 2007 422A.05

Mortgage brokers

Agency, duties, Minn. Statutes 2007 58.16, 2007 58.161

Fees paid to, Minn. Statutes 2007 58.137, 2007 58.16

Lawsuits against, Minn. Statutes 2007 58.18

Mortgage certificate program

Housing Finance Agency, powers, Minn. Statutes 2007 462A.05

Mortgage credit certificate programs

Definitions, Minn. Statutes 2007 462C.02

Generally, Minn. Statutes 2007 462C.11

Mortgage liens

Junior liens, voluntary foreclosures, Minn. Statutes 2007 582.32

Subdivided land sales, Minn. Statutes 2007 83.40

Mortgage loans

Agricultural property, mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Applications, credit inquiries arising from, Minn. Statutes 2007 13C.01

Commercial mortgage loans, see same under this topic

Definitions, Minn. Statutes 2007 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 2007 45.0293

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 2007 48.24

Low and moderate income/affordable housing programs, mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Renegotiable rate mortgage loans, Minn. Statutes 2007 50.14

Reverse mortgages, see same under this topic

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

Mortgage trustees, Minn. Statutes 2007 48A.07

Mortgagees

Advances by, mortgage registry taxes, exemption, Minn. Statutes 2007 287.05

Definitions, Minn. Statutes 2007 47.20, 2007 507.401

Delinquent property taxes, filing to receive notice, Minn. Statutes 2007 276.041

Fiduciary duties, mortgage registry taxes, collection and remittance, Minn. Statutes 2007 287.08

Foreclosure consultants, exclusion, Minn. Statutes 2007 325N.01

Fraternal benefit societies, mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Land acquired by foreclosure, hazardous substances releases, responsible persons, Minn. Statutes 2007 115B.03

Notice received, fire insurance, final settlement, partial withholding, Minn. Statutes 2007 65A.50

Payments to, fire insurance settlement proceeds, Minn. Statutes 2007 65A.50

Property taxes, payment, notice given, Minn. Statutes 2007 272.435

Tax liens, enforcement, filing of notice, Minn. Statutes 2007 270C.63

Mortgagors

Liability, wrongful or erroneous certificates of release of mortgage, Minn. Statutes 2007 507.401

Notice received, property taxes, payment, Minn. Statutes 2007 272.435

Residential real estate closings, Minn. Statutes 2007 507.45

Multistate mortgages

Mortgage registry taxes, see MORTGAGE REGISTRY TAXES

Municipal gas agencies, Minn. Statutes 2007 453A.04, 2007 453A.05

Municipal power agencies, Minn. Statutes 2007 453.54, 2007 453.55

Neighborhood land trusts, Minn. Statutes 2007 462A.31

Nonprofit corporations, Minn. Statutes 2007 317A.161, 2007 317A.305, 2007 317A.671

Notice

Recitals of unrecorded mortgages, Minn. Statutes 2007 507.332

Recording deemed notice, Minn. Statutes 2007 507.32, 2007 507.325

Ores, conveyances, recording, Minn. Statutes 2007 507.36

Owners, affidavits

Deed taxes, see DEED TAXES

Mortgage registry taxes, payment, Minn. Statutes 2007 287.11

Partial release, deed taxes, exemption, Minn. Statutes 2007 287.22

Payments

Assignment for benefit of creditors, Minn. Statutes 2007 577.08

Charges against principal, Uniform Principal and Income Act, Minn. Statutes 2007 501B.71

Reverse mortgages, Minn. Statutes 2007 287.05

Performing mortgage loans, insurance companies, valuation, Minn. Statutes 2007 60A.123

Pipeline companies, Minn. Statutes 2007 507.327, 2007 507.328

Plain Language Contract Act, exemption, Minn. Statutes 2007 325G.30

Power companies, Minn. Statutes 2007 507.327

Power to make, generally, Minn. Statutes 2007 47.20

Precomputed loans, finance charges, refunds, Minn. Statutes 2007 47.20

Predatory lending practices

Residential mortgage loans, Minn. Statutes 2007 58.13, 2007 58.18, 2007 609.822

Prepayment penalties

Eminent domain, Minn. Statutes 2007 117.087

Restrictions, Minn. Statutes 2007 58.137

Private mortgage insurance, Minn. Statutes 2007 47.207

Probate, mortgages defined, Minn. Statutes 2007 524.1-201

Public property, exemptions, Minn. Statutes 2007 287.04

Public retirement plans

Loans secured by mortgages, investment in, Minn. Statutes 2007 356.64

Public service corporations, Minn. Statutes 2007 301B.04, 2007 301B.05

Public utilities, Minn. Statutes 2007 507.327

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

Purchase, mortgage defined as, Minn. Statutes 2007 336.1-201, 2007 336.2A-103

Railroads, Minn. Statutes 2007 222.13, 2007 222.18

Real estate mortgage investment conduit, ownership of interest, income and franchise taxes, exceptions, Minn. Statutes 2007 290.015

Real estate mortgages, defined as encumbrances, Minn. Statutes 2007 336.2A-309

Real property subject to taconite and iron sulfides taxes

Mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Real property, nonjoinder of spouse, effect, Minn. Statutes 2007 507.03

Recitals

Disregarding, Minn. Statutes 2007 507.33, 2007 507.331

Unrecorded mortgages, Minn. Statutes 2007 507.332

Recording

Corporate identity changes, Minn. Statutes 2007 507.411

County recorders, duties, Minn. Statutes 2007 386.39

Defined, Minn. Statutes 2007 287.01

Mortgage registry taxes, payment, Minn. Statutes 2007 287.10

Refinancing mortgages

Housing Finance Agency, powers, Minn. Statutes 2007 462A.05

Refunds, precomputed finance charges, Minn. Statutes 2007 47.20

Registration

Fees, Minn. Statutes 2007 40A.151, 2007 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 2007 50.14

Residences, drafting, Minn. Statutes 2007 481.02

Residential mortgage fraud, Minn. Statutes 2007 609.822

Residential mortgage loans

Defined, Minn. Statutes 2007 47.207

Interest rates, Minn. Statutes 2007 58.16

Predatory lending practices, Minn. Statutes 2007 58.13, 2007 58.18, 2007 609.822

Rates, fully indexed rate, Minn. Statutes 2007 58.02

Residential mortgage originators and servicers, Minn. Statutes 2007 58.125, 2007 58.13

Residential mortgage originators and servicers, Minn. Statutes 2007 58.01 to 2007 58.17, 2007 60K.43

Restrictions, discriminatory provisions restricting conveyance of real property, Minn. Statutes 2007 507.18

Restructured mortgage loans

Insurance companies, Minn. Statutes 2007 60A.123, 2007 60A.127

Retail installment contracts

Motor Vehicle Retail Installment Sales Act, Minn. Statutes 2007 53C.01

Reverse mortgages

Authorized, Minn. Statutes 2007 47.20

Federally administered mortgages, tax exemption, Minn. Statutes 2007 287.05

Generally, Minn. Statutes 2007 47.58

Interest, Minn. Statutes 2007 47.58, 2007 287.05

MFIP, income, exclusion, Minn. Statutes 2007 256J.21

Mortgage registry taxes, see MORTGAGE REGISTRY TAXES

Proceeds, disregards, Minn. Statutes 2007 256.99

Revolving lines of credit secured by

Mortgage registry tax, Minn. Statutes 2007 287.05

Recording, notice to parties, Minn. Statutes 2007 507.325

Rural development financing authorities, powers, Minn. Statutes 2007 469.146

Rural Finance Authority, seller-sponsored loans, security, Minn. Statutes 2007 41B.042

Rural water user districts, property, Minn. Statutes 2007 110A.33, 2007 110A.34

Satisfaction

Certificates of release of mortgage, Minn. Statutes 2007 507.401

Certificates of satisfaction by assignee, Minn. Statutes 2007 507.403

Conveyancing forms, Minn. Statutes 2007 507.09, 2007 507.091

Corporate identity changes, Minn. Statutes 2007 507.411

Deed taxes, exemption, Minn. Statutes 2007 287.22

Delivery, Minn. Statutes 2007 47.208

Failure to discharge, Minn. Statutes 2007 507.41

Procedure, Minn. Statutes 2007 507.40

Recording, mortgage registry tax payments, Minn. Statutes 2007 287.10

Release by fewer than all mortgagees, Minn. Statutes 2007 507.412

Violations and penalties, failure to deliver, Minn. Statutes 2007 47.208

Secured transactions, see Mortgages under SECURED TRANSACTIONS

Securities, exemptions, Minn. Statutes 2007 83.26

Security

Agricultural improvement programs, direct loans, Minn. Statutes 2007 41B.043

Agricultural resource project loans, Minn. Statutes 2007 41A.03

Inapplicable laws, Minn. Statutes 2007 47.21

Instruments, mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Livestock expansion loans, Minn. Statutes 2007 41B.045

Multistate mortgages, Minn. Statutes 2007 287.05

Real property in Minnesota, Minn. Statutes 2007 287.05

Selling mortgaged real estate, Minn. Statutes 2007 47.20

Semitaconite mining companies, Minn. Statutes 2007 507.327

Senior citizens' property tax deferral program, Minn. Statutes 2007 290B.03, 2007 290B.04

Share of future appreciation, regulating, Minn. Statutes 2007 47.20

Shelter costs, mortgages defined as, Minn. Statutes 2007 256J.08

Successors in interest, savings banks, Minn. Statutes 2007 50.1485

Supplemental mortgages, see MORTGAGE REGISTRY TAXES

Taconite mining companies, Minn. Statutes 2007 507.327

Tax-exempt property, mortgages on

Mortgage registry taxes, exemption, Minn. Statutes 2007 287.04

Taxes, see MORTGAGE REGISTRY TAXES

Telegraph companies

Bonds secured by, Minn. Statutes 2007 222.141

Recording requirements, Minn. Statutes 2007 222.18

Telephone companies

Bonds secured by, Minn. Statutes 2007 222.141

Generally, Minn. Statutes 2007 507.327

Timber, conveyances, recording, Minn. Statutes 2007 507.36

Transfer statements, see under SECURED TRANSACTIONS

Transfers, mortgages defined as, Minn. Statutes 2007 323A.0101

Trust companies, investment powers, Minn. Statutes 2007 48A.08

Trusts

Assets, generally, Minn. Statutes 2007 501B.46 to 2007 501B.57

Trustees, enumerated powers, Minn. Statutes 2007 501B.81

Uniform Short Form Mortgage Act, Minn. Statutes 2007 507.15

Unrecorded mortgages, recitals, notice, generally, Minn. Statutes 2007 507.332

Usury, Minn. Statutes 2007 47.20

Validity, mortgage registry tax, errors, Minn. Statutes 2007 287.10

Veterans administration, secured mortgages

Savings banks, purchasing, selling, Minn. Statutes 2007 50.155

Violations and penalties

Cooperative apartment loans, unlawful interest rates, Minn. Statutes 2007 47.20

Discount point agreements, Minn. Statutes 2007 47.206

Failure to discharge, damages, Minn. Statutes 2007 507.41

Interest rate agreements, Minn. Statutes 2007 47.206

Predatory lending, Minn. Statutes 2007 609.822

Unlawful interest rates, Minn. Statutes 2007 47.20

Waivers, Minn. Statutes 2007 47.20

Warehouse receipts

Negotiating without disclosing mortgage, Minn. Statutes 2007 227.55