Bill

SB 830

85(R) - 2017
Senate Business & Commerce
House Investments & Financial Services
Read Bill & Check Bill Status
Senate Business & Commerce
House Investments & Financial Services
Consumer Protections
Finance
Property Rights

Vote Recommendation

No
  • Negative
  • Neutral
  • Negative
  • Negative
  • Neutral

Author(s)

José Rodríguez

Sponsor(s)

Armando Walle

Bill Caption

Relating to the provision of accounting statements by mortgage servicers for certain loans secured by a lien on residential real property.

Fiscal Notes

No fiscal implication to the State is anticipated.

Bill Analysis

SB 830 would require a mortgage servicer to provide to the borrower annual accounting statements for certain home loans. If a servicer fails to provide the statement to the borrower in the established time period, the borrower is not liable for any payment, fees, or other charges not made during the year.

Vote Recommendation Notes

SB 830 violates our principles of limited government, personal responsibility, and free markets by creating another unnecessary mandate on the practices of private businesses. For these reasons, we oppose this legislation.