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Senate Bill 830 |
Senate Author: Rodríguez |
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Effective: Vetoed |
House Sponsor: Walle |
Senate Bill 830 amends the Finance Code to require a mortgage servicer to provide an annual accounting statement to the borrower of certain loans secured by a lien on residential real property and to provide for the recourse of the borrower for a mortgage servicer's failure to timely provide the statement.
Governor's Reason for Veto: "Senate Bill 830 imposes burdensome new regulatory and paperwork requirements on those who offer seller-financed mortgages. This sort of regulation could increase the price and reduce the availability of these mortgages."