HB 1016 (BR 2694) - J. Barrows
AN ACT relating to mortgage loan companies and loan brokers.
Amend KRS 294.130, relating to escrow accounts held by mortgage loan companies for payment of a borrower's taxes or insurance premiums, to require that funds deposited into an escrow account be placed in an interest-bearing account that earns the customary rate of interest prevailing at the time of the deposit; require that interest on the escrow account be applied first to expenses to be paid from the account and any remaining interest credited back to the borrower's account.
Mar 1-introduced in House
Mar 2-to Banking and Insurance (H)
Mar 3-posted in committee