HOUSE BILL 927

Sponsored By:

Delegates Krysiak, McIntosh, and Rosenberg

Entitled:

Real Property - Payment of Property Insurance and Taxes by Lender

Synopsis:

Requiring a lender to establish an escrow account for prorated monthly payments of real property tax and homeowners insurance if the loan is secured by a mortgage or deed of trust on the borrower's principal residence and the borrower is required to maintain mortgage insurance.

History by Legislative Date

House Action

2/9

First Reading Economic Matters

2/14

Hearing 3/1 at 1:00 p.m.

3/20

Unfavorable Report by Economic Matters

Senate Action

No Action

Sponsored by:

Delegate Carolyn J. Krysiak, District 46

Delegate Maggie L. McIntosh, District 42

Delegate Samuel I. Rosenberg, District 42

Bill indexed under the following Subjects:

ESCROW ACCOUNTS

FINANCIAL INSTITUTIONS -see also- BANKS; CREDIT UNIONS; etc.

INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS

MORTGAGES

PROPERTY TAX

Bill affects the following Statute:

Real Property

( 7-107.1 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered