An Act providing mortgage customers additional mandatory information regarding their accounts

This bill (HD 2128) requires banks and lending institutions to include specific details in monthly mortgage statements for their customers. The new provision mandates that statements must show the remaining principal balance, confirmation of the most recent payment received, and the balance plus descriptions of payments from any escrow accounts. It directly affects all mortgage loan customers by providing clearer, more detailed information about their account status. The requirement applies to all monthly statements issued by covered financial institutions under the amended law.