Pennsylvania Homeowners to Benefit from New Mortgage Law, State Tackles Nursing Shortage
Wilkes-Barre, PA – Pennsylvania homeowners will soon have more options to lower their monthly mortgage payments thanks to a new law signed by Governor Josh shapiro this week. Act 16 of 2025,amending the Mortgage Licensing Act (MLA),allows non-bank mortgage lenders to collect discount points on first and secondary mortgage loans,effectively enabling borrowers to buy down their interest rates.
“For many hard-working people, home ownership is their american dream,” said Department of Banking and Securities (DoBS) Secretary Wendy Spicher.”Now that mortgage lenders can offer discount points, homeowners can reap the benefits by having lower monthly payments and get additional access to credit.”
The MLA regulates approximately 600 non-bank mortgage lenders and 1,900 branches across the state. This change brings Pennsylvania in line with the majority of states, offering greater financial adaptability to its residents. The law takes effect in 60 days.
Consumers Protected with New Resources: Pennsylvanians now have easier access to consumer protection resources with
