Bill
Bill > H902
MA H902
Providing mortgage customers additional mandatory information regarding their accounts
summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
By Mr. Ayers of Quincy, a petition of Bruce J. Ayers that banking and lending institutions be required to issue certain information on monthly statements to mortgage loan customers. Financial Services.
AI Summary
This bill requires banks and lending institutions to include specific information on the monthly statements sent to mortgage loan customers. The key provisions include: the remaining principal balance, the current interest rate on the remaining principal, confirmation of the most recent payment received, and the balance and description of any escrow account payments. These additional mandatory disclosures are intended to provide mortgage customers with more comprehensive information about their accounts.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see H5160 (on 12/01/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H902 |
| Bill | https://malegislature.gov/Bills/191/H902.pdf |
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