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United States · Bill · HR

H.R. 650 (108th)

Homeowners' Escrow Payments Assurance Act

referredUnited States· United States Congress· EN

Introduced

7 February 2003

Last action

27 February 2003 · Referred

Status

Referred to the Subcommittee on Housing and Community Opportunity.

Sponsors

Rep. Andrews, Robert E. [D-NJ-1]

Subjects

Discovery layer

Source updated

18 August 2025

Official sourceDownload fileView documentsShare

Summary

Homeowners' Escrow Payments Assurance Act - Amends the Real Estate Settlement Procedures Act of 1974 to impose: (1) treble damages for noncompliance with statutory requirements pertaining to the servicing of federally related mortgage loans and escrow accounts administration; and (2) a civil penalty for each day of insurance coverage lapse that results from failure of a mortgage servicer to timely make payments from mortgagor's escrow account. Earmarks the fines thus collected for assistance to: (1) low-income families for the acquisition of a principal residence; and (2) nonprofit organizations that engage in legal advocacy relating to consumer rights' protection.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 7 February 2003

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 7 February 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 7 February 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 27 February 2003

    Referred

    Referred to the Subcommittee on Housing and Community Opportunity.

    Source: Committee

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 7 February 2003

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 7 February 2003

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 7 February 2003

    Open at official source

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Sponsors

Related records

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Sources

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