Floor Packet Page No. 38
      Amends CSHJR 4 as follows:
      insert a new Sec 2.55 in the resolution as follows and
renumber the resolution accordingly:
      Every mortgage loan servicer shall provide to the borrower a
copy of the following written notice no later than September 30,
1997:
      NOTICE OF PROPERTY TAX DECREASE:  Because of the action taken
by the 75th Legislature and the Constitutional amendment approved
by the voters, there will be a substantial decrease in the
residential property tax rates beginning in 1998. If your monthly
mortgage payment includes taxes, the property tax decrease should
result in a decrease in the amount necessary to be paid into the
escrow account. This decrease will be taken into account when we
provide you the Annual Escrow Account Statement required by federal
law and the notice of the change in your mortgage payment. If you
have any questions about your mortgage payment after you receive
the Annual Escrow Statement, you can contact us (address and
Telephone number of lender).