Bill Text: CT SB00396 | 2014 | General Assembly | Introduced

Connecticut Senate Bill 396 (Prior Session Legislation)

Introduced

Bill Title: An Act Requiring Mortgagees To Notify Consumer Reporting Agencies Of The Good Standing Of A Mortgagor.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2014-03-07 - Public Hearing 03/11 [SB00396 Detail]

Download: Connecticut-2014-SB00396-Introduced.html


General Assembly		*Raised Bill No. 396*
*February Session, 2014*		LCO No. 2033
		02033_______BA_
Referred to Committee on BANKS
Introduced by:
(BA)

AN ACT REQUIRING MORTGAGEES TO NOTIFY CONSUMER REPORTING AGENCIES OF THE GOOD STANDING OF A MORTGAGOR.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective July 1, 2014) A mortgagee, as defined in section 49-31k of the general statutes, shall notify a consumer reporting agency, as defined in section 38a-976 of the general statutes, of the good standing of a mortgagor, as defined in said section, at the request of such mortgagor, if such mortgagor has successfully completed the foreclosure mediation program established pursuant to section 49-31m of the general statutes and has remained current on mortgage payments for a period of three or more years following the completion of such program. For purposes of this section, "good standing" means having paid each mortgage payment in a timely fashion, as determined by the mortgagee.


This act shall take effect as follows and shall amend the following sections:
Section 1	July 1, 2014	New section

Statement of Purpose:

To require mortgagees to notify consumer reporting agencies regarding the good standing of a mortgagor.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]