Prohibits rent minimums in mortgages

This bill prohibits mortgage lenders from penalizing borrowers (mortgagors) for not setting high enough rental rates on properties securing a mortgage. It makes any mortgage clause that charges fees, causes default, or penalizes low rents void and unenforceable. The law applies immediately to all mortgages, including those issued, renewed, or modified before the bill's passage. It directly affects all homeowners with mortgages on rental properties by preventing lenders from leveraging rent levels to enforce loan terms.