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WV HB4792
Bill
Status
Introduced
1/23/2026
Primary Sponsor
Vernon Criss
Click for details
AI Summary
- Eliminates the requirement for a separate state-specific closing disclosure for mortgage loans when the federal TILA-RESPA Integrated Disclosure (TRID) Closing Disclosure contains all required information
- Requires closing statements to include late payment penalty maximums as set forth in West Virginia Code §46A-3-112 and §46A-3-113
- Mandates that both the broker/lender/closing representative and the borrower(s) sign the detailed closing statement
- Updates statutory references from the outdated HUD-1/HUD-1A settlement statements to current federal Closing Disclosure requirements
- Maintains the existing 36-month record retention requirement for business records related to residential mortgage loans
Legislative Description
Relating to requirements for disclosures and recordkeeping, reinforcing state law regarding late fees, and clarifying that a state-specific closing disclosure is not required as long as federal closing disclosures are given accurately
Banking and Finance
Last Action
To House Finance
1/23/2026
Committee Referrals
Finance1/23/2026
Full Bill Text
No bill text available