To amend the Real Estate Settlement Procedures Act of 1974 to require the payment of interest on escrow and impoundment accounts established for the payment of taxes and fire and hazard insurance premiums on property securing a federally related mortgage loan.
Last action on Jun 25, 2001Referred to the Subcommittee on Housing and Community Opp...
Take Action
Summary
Amends the Real Estate Settlement Procedures Act of 1974 to require the payment of interest (of at least 3.5 percent) to a borrower on escrow and impoundment accounts established for the payment of taxes and fire and hazard insurance premiums on property securing a federally related mortgage loan.
Lifecycle of the Bill
No events recorded for this stage yet.
