HR 2208 · 107th Congress · Finance and Financial Sector

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.

Introduced 2001-06-14· Sponsored by Rep. Watt, Melvin L. [D-NC-12]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Housing and Community Opportunity.(2001-06-25)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (6)

6 Democrats
Rep. Waters, Maxine [D-CA-35]CA
Rep. Frank, Barney [D-MA-4]MA
Rep. LaFalce, John J. [D-NY-29]NY
Rep. Filner, Bob [D-CA-50]CA
Rep. Owens, Major R. [D-NY-11]NY
Rep. Hinchey, Maurice D. [D-NY-26]NY