Bill
Bill > H480
MA H480
MA H480Providing mortgage customers additional mandatory information regarding their accounts
summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th 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 banking and lending institutions to include certain additional information on monthly statements provided to mortgage loan customers. Specifically, the bill mandates that mortgage statements must include the remaining principal balance, the current interest rate available for the remaining principal, confirmation of the most recent payment received, and the balance and description of any escrow account payments. The purpose of this legislation is to provide mortgage customers with more detailed and transparent information about their loan accounts.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see H4778 (on 07/18/2018)
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/190/H480 |
| Bill | https://malegislature.gov/Bills/190/H480.pdf |
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