2008 Regular Session

HOUSE BILL 286

File Code: Commercial Law - Credit Regulation
Sponsored By:
Delegate Bobo
Entitled:
Credit Regulation - Loans Secured by Residential Real Property - Escrow Accounts

Synopsis:

Requiring specified lenders, before the execution of a specified loan contract, to furnish a borrower with a written statement regarding the monthly payment amount to be paid by the borrower and placed in a specified escrow account; requiring specified lenders, credit grantors, and lending institutions that lend money secured by a first mortgage or first deed of trust on any interest in residential real property to create an escrow account in connection with specified loans; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.
House Action
1/23
First Reading Economic Matters
1/30
Hearing 2/21 at 1:00 p.m.
2/6
Hearing cancelled
Hearing 2/21 at 5:00 p.m.
2/15
Hearing cancelled
Hearing 2/22 at 1:00 p.m.
3/17
Unfavorable Report by Economic Matters
Senate Action
No Action

Bill indexed under the following Subjects:

Consumer Protection -see also- Unfair Trade Practices
Contracts -see also- Land Installment Contracts; Procurement
Credit
Disclosure
Escrow Accounts
Financial Institutions -see also- Banks; Credit Unions; etc.
Mortgages
Notices

Bill affects the following Statutes:

Commercial Law
( 12-106 , 12-109 , 12-125 , 12-301 , 12-306.1 , 12-308 , 12-922 , 12-1022 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments: None offered