H1083
An Act providing mortgage customers additional mandatory information regarding their accounts
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill requires banks and lending institutions in Massachusetts to provide mortgage customers with more detailed information on their monthly account statements. Specifically, it mandates the inclusion of data related to escrow accounts, property taxes, and homeowners insurance. The goal is to improve transparency and help borrowers better understand their mortgage obligations. This legislation builds upon previous attempts to enhance mortgage customer disclosures.
Sponsors
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Primary sponsor
Bruce J. Ayers
Cosponsor
Bruce J. Ayers
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