General Assembly Proposed Bill No. 5813
January Session, 2011 LCO No. 2375
Referred to Committee on Banks
Introduced by:
REP. ROVERO, 51st Dist.
General Assembly
Proposed Bill No. 5813
January Session, 2011
LCO No. 2375
Referred to Committee on Banks
Introduced by:
REP. ROVERO, 51st Dist.
AN ACT PROHIBITING THE ASSESSMENT OF TITLE INSURANCE FEES UPON REFINANCING A MORTGAGE LOAN.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That title 36a of the general statutes be amended to require that a title insurance fee assessed upon the refinancing of a loan secured by real property be reduced proportionately by an amount that reflects the time during which such real property was secured by the original mortgage loan.
Statement of Purpose:
To reduce additional title insurance costs incurred by homeowners by reducing the title insurance fee assessed at refinancing by giving the mortgagor a credit for the time during which the real property was secured by the original mortgage loan.