Bill Text: MA H858 | 2009-2010 | 186th General Court | Introduced
Bill Title: That banking and lending institutions be required to issue certain information on monthly statements to mortgage loan customers
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-03-31 - Report accepted [H858 Detail]
Download: Massachusetts-2009-H858-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Bruce J. Ayers
_______________
To the
Honorable Senate and House of Representatives of the Commonwealth of
Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act providing mortgage customers additional mandatory information regarding their accounts.
_______________
PETITION OF:
|
Name: |
District/Address: |
|
Bruce J. Ayers |
1st Norfolk |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 80 OF 2007-2008.]
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
An Act providing mortgage customers additional mandatory information regarding their accounts.
Be it
enacted by the Senate and House of Representatives in General Court assembled,
and by the authority of the same, as follows:
SECTION 1. Chapter 167E of the General Laws, as
appearing in the 2006 Official Edition, is hereby amended by inserting after
section 16 the following new section:—
Section 17. Banks and lending institutions shall issue monthly statements to
their mortgage loan customers which includes, but is not limited to, the
following information: the balance of principal remaining to be paid; the most
current interest rate available for the amount of principal remaining on said
loan at the time such mortgage statement is printed; a confirmation of the most
recent payment received; and the balance of any escrow accounts and a
description of any payments from such escrow accounts.
