Connecticut 2011 Regular Session

Connecticut House Bill HB05813 Latest Draft

Bill / Introduced Version Filed 01/21/2011

                            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.