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Legislation


2011 Regular Session

HOUSE BILL 1038

File Code: Financial Institutions
Sponsored By:
Delegates Olszewski and Kach
Entitled:
Commercial Law - Residential Mortgage Loans - Escrow Amounts

Synopsis:

Prohibiting specified lenders, credit grantors, and servicers of loans from including, for a period of 1 year after the determination is made, increases in the amount of escrow payments in calculating the amount of interest or any fee due under specified residential mortgage loans under specified circumstances; authorizing a lender, a credit grantor, or a servicer of a loan to charge interest to a borrower on specified funds under specified circumstances; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
House Action
2/11
First Reading Economic Matters
2/14
Hearing 3/10 at 1:00 p.m.
3/26

Favorable with Amendments Report by Economic Matters
3/25
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/26
Third Reading Passed (113-23)
4/9
House Concur - Senate Amendments
Third Reading Passed (121-16)
Passed Enrolled
Senate Action
3/25
First Reading Finance
3/29
Hearing 4/5 at 1:00 p.m.
4/8
Favorable with Amendments Report by Finance
4/5
Favorable with Amendments Report Adopted
Floor Committee Amendment (Finance) Adopted
Second Reading Passed with Amendments
4/6
Special Order until later today (Senator Conway) Adopted
4/7
Third Reading Passed with Amendments (46-0)
Action after passage in House and Senate
5/19
Approved by the Governor
- Chapter 611

Sponsored by:

Delegate John A. Olszewski, Jr., District 6
Delegate Wade Kach, District 5B

Bill indexed under the following Subjects:

Banks and Trust Companies
Consumer Protection -see also- Unfair Trade Practices
Escrow Accounts
Fees -see also- Attys' Fees; Devt Fees & Taxes; Reimb Rates.
Financial Institutions -see also- Banks; Credit Unions; etc.
Interest
Loans -see also- Mortgages
Mortgages
Notices
Savings and Loan Associations

Bill affects the following Statutes:

Commercial Law
( 12-109 , 12-109.1 , 12-109.2 , 12-1026 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled, Chapter
Fiscal and Policy Note: Available
Amendments:
House
Number: 363597/01     Offered on: March 26, 2011   at: 10:19 a.m.     Status: Adopted
Senate
Number: 187778/01     Offered on: April 9, 2011   at: 1:40 p.m.     Status: Adopted
Number: 987972/01     Offered on: April 9, 2011   at: 1:43 p.m.     Status: Adopted
Committee Votes :
House
Economic Matters
Senate
Finance
Roll Call Votes (Legislative dates are shown):
House
March 26, 2011: Third Reading Passed (113-23)
April 9, 2011: Third Reading Passed (121-16)
Senate
April 7, 2011: Third Reading Passed (46-0)
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