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SB0831

Original
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Opposite
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Review in
Original Chamber
Passed Both
Chambers
Conf. Cmte
(if necessary)
To Governor
Title
Credit Regulation - Reverse Mortgage Loans - Escrow Accounts
Sponsored by
Senator Charles
Status
In the Senate - First Reading Finance
Analysis
Synopsis
Requiring a lender for a reverse mortgage loan to establish a certain escrow account for the payment of eligible homeowner expenses, deduct a certain amount of funds from each loan distribution to a borrower, deposit the deducted funds into the escrow account, and deliver on-time payments from the escrow account to the appropriate collection entity for eligible homeowner expenses.
Committees
Original:
Finance
Details
Bill File Type: Regular
Effective Date(s): October 1, 2025
History
Legislation History
Chamber
Senate
Calendar Date
2/03/2025
Legislative Date
1/28/2025
Action
First Reading Finance
Proceedings
Chamber
Calendar Date
Legislative Date
Action
Text - First - Credit Regulation - Reverse Mortgage Loans - Escrow Accounts
Proceedings
Chamber Calendar Date Legislative Date Action Proceedings
Senate 2/03/2025 1/28/2025 First Reading Finance
Text - First - Credit Regulation - Reverse Mortgage Loans - Escrow Accounts
File Code
Subjects
Statutes
Last Updated: 2/4/2025 1:49 PM
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