Bill: SB 830, 85(R) - 2017
Committee
Senate Business & Commerce
2nd Chamber Committee
House Investments & Financial Services
Vote Recommendation
| Vote Recommendation |
Economic Freedom |
Property Rights |
Personal Responsibility |
Limited Government |
Individual Liberty |
| No |
Negative |
Neutral |
Negative |
Negative |
Neutral |
Author(s)
José RodrÃguez
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.
