Uniform Mortgage Modification Act

The Uniform Mortgage Modification Act governs changes to an existing mortgage and to the obligation it secures, setting out which alterations — including those involving financial covenants or a recognized index — qualify as a mortgage modification and which transactions fall within its reach. Its central operative provision fixes the legal effect a qualifying modification has on the mortgage and on the obligor bound by it. The act also accommodates modifications made through electronic records and signatures, coordinating with federal law on electronic transactions, and calls for the law to be applied and construed consistently across the states that adopt it.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.