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CT HB05503
Bill
Status
1/21/2025
Primary Sponsor
Banking Committee
Click for details
AI Summary
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Mortgagees must provide periodic statements to mortgagors upon request, with statements required to meet federal requirements under 12 CFR 1026.41
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Applies to mortgage owners or servicers who make more than five mortgage loans within any 12 consecutive month period
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Periodic statements must be provided for each billing cycle and comply with federal Consumer Financial Protection Bureau regulations
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Mortgagees already complying with federal 12 CFR 1026.41 requirements are automatically deemed in compliance with this state law
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Effective October 1, 2025; received Joint Favorable report from Banking Committee
Legislative Description
An Act Requiring Mortgagees To Provide Mortgagors With Periodic Statements.
Last Action
File Number 225
3/25/2025