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CT SB00884
Bill
Status
2/9/2015
Primary Sponsor
Banking Committee
Click for details
AI Summary
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Revises Section 36a-719h to clarify and modify 19 prohibited acts by mortgage servicers, effective October 1, 2015.
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Changes language in prohibited act provisions to remove "directly or indirectly" from fraud schemes, replace "misapply or recklessly apply" with "or recklessly misapply," and modify "has reason to know" to "should have known" regarding insurance placement.
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Updates prohibited act regarding credit bureau reporting to specify inaccurate information must "result in harm" to a mortgagor's creditworthiness rather than "thereby harming" creditworthiness.
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Repeals Section 49-31u concerning the certificate of good standing requirement in the foreclosure mediation program, effective upon passage.
Legislative Description
An Act Concerning Prohibited Acts Of Mortgage Servicers And A Certificate Of Good Standing In The Foreclosure Mediation Program.
Last Action
Public Hearing 02/24
2/20/2015