Relates to the discharge of a mortgage

This bill requires lenders to accept and apply any payment made according to their specified location and method, even if it's a partial payment toward the mortgage balance. Lenders cannot refuse, return, or destroy such payments, and must apply them immediately to the outstanding principal, interest, or fees. However, partial payments do not trigger the official release of the mortgage (a "certificate of discharge" or "satisfaction of mortgage"), which only occurs when a full payment covers all remaining amounts. The law applies directly to mortgage lenders and borrowers making payments under a payoff letter.