HB 2717 Illinois House · 103rd Regular Session

MORTGAGE ESCROW-COMPLIANCE

Summary

Amends the Mortgage Escrow Account Act. Provides that a mortgage lender that complies with the escrow account requirements in Title 12 CFR Part 1026 for a mortgage loan that is a higher-priced mortgage loan is deemed to be in compliance with a provision regarding notification by a mortgage lender to a borrower about terminating or continuing such escrow account. Provides that the borrower shall not have the right to terminate any escrow account arrangement in conjunction with a mortgage loan that is a higher-priced mortgage loan unless the borrower has met all of the conditions for cancellation of an escrow account for a higher-priced mortgage loan in Title 12 CFR Part 1026. Effective immediately.

Bill status signed all 4 stages cleared

Introduction

Mar 2023

Committee Review

Apr 2023

House Passage

May 2023

Signed into Law

Jul 2023

Introduced Mar 27, 2023 Signed Jul 28, 2023

Floor votes · House Mar 23, 2023

How they voted

108–0

Passed · 9 other

Total votes 117

Mar 23, 2023

D Democratic77

71 Yea 6

92% Yea

R Republican40

37 Yea 3

92% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jul 28, 2023

Signed into law

Governor Approved

lower

May 11, 2023

Lower · Passed

Passed Both Houses

lower

May 11, 2023

Lower · Passed

Third Reading - Passed; 056-000-000

lower

Apr 26, 2023

Lower · Passed

Do Pass Financial Institutions; 007-000-000

lower

Apr 18, 2023

Committee

Assigned to Financial Institutions

lower

Mar 27, 2023

Committee

Referred to Assignments

lower

Mar 27, 2023

Introduced

Arrive in Senate

lower

Mar 23, 2023

Lower · Passed

Third Reading - Short Debate - Passed 108-000-000

lower

Mar 7, 2023

Lower · Passed

Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000

lower

Feb 28, 2023

Committee

Assigned to Financial Institutions and Licensing Committee

lower

Feb 16, 2023

Committee

Referred to Rules Committee

lower

1 primary · 2 co-sponsors