General Assembly Proposed Bill No. 313
January Session, 2013 LCO No. 2037
Referred to Committee on BANKS
Introduced by:
SEN. MCKINNEY, 28th Dist.
General Assembly
Proposed Bill No. 313
January Session, 2013
LCO No. 2037
Referred to Committee on BANKS
Introduced by:
SEN. MCKINNEY, 28th Dist.
AN ACT PROHIBITING MORTGAGE LENDERS FROM IMPOSING ESCROW FEES ON BORROWERS WHO DO NOT ESCROW PROPERTY TAXES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That the general statutes be amended to prohibit any mortgage lender doing business in this state or holding or purchasing a mortgage secured by property in this state from imposing an escrow fee on a borrower if the borrower does not escrow property taxes.
Statement of Purpose:
To prohibit mortgage lenders from imposing escrow fees on borrowers who do not escrow property taxes.