MORTGAGE ESCROW-COMPLIANCE House SponsorsRep. Edgar Gonzalez, Jr. Senate Sponsors(Sen. Ram Villivalam-Jason Plummer and Michael E. Hastings) 7/28/2023HousePublic Act . . . . . . . . . 103-0322 765 ILCS 910/5from Ch. 17, par. 4905765 ILCS 910/7from Ch. 17, par. 4907 Amends the Mortgage Escrow Account Act. Provides that a mortgage lender that complies with the escrow account requirements in Title 12 CFR Part 1026 for a mortgage loan that is a higher-priced mortgage loan is deemed to be in compliance with a provision regarding notification by a mortgage lender to a borrower about terminating or continuing such escrow account. Provides that the borrower shall not have the right to terminate any escrow account arrangement in conjunction with a mortgage loan that is a higher-priced mortgage loan unless the borrower has met all of the conditions for cancellation of an escrow account for a higher-priced mortgage loan in Title 12 CFR Part 1026. Effective immediately. 2/15/2023HouseFiled with the Clerk by Rep. Edgar Gonzalez, Jr. 2/16/2023HouseFirst Reading 2/16/2023HouseReferred to Rules Committee 2/28/2023HouseAssigned to Financial Institutions and Licensing Committee 3/7/2023HouseDo Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000 3/8/2023HousePlaced on Calendar 2nd Reading - Short Debate 3/15/2023HouseSecond Reading - Short Debate 3/15/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/23/2023HouseThird Reading - Short Debate - Passed 108-000-000 3/27/2023SenateArrive in Senate 3/27/2023SenatePlaced on Calendar Order of First Reading 3/27/2023SenateChief Senate Sponsor Sen. Ram Villivalam 3/27/2023SenateFirst Reading 3/27/2023SenateReferred to Assignments 4/18/2023SenateAssigned to Financial Institutions 4/26/2023SenateDo Pass Financial Institutions; 007-000-000 4/26/2023SenatePlaced on Calendar Order of 2nd Reading April 27, 2023 4/27/2023SenateSecond Reading 4/27/2023SenatePlaced on Calendar Order of 3rd Reading May 2, 2023 4/28/2023SenateAdded as Alternate Chief Co-Sponsor Sen. Jason Plummer 5/4/2023SenateAdded as Alternate Co-Sponsor Sen. Michael E. Hastings 5/5/2023SenatePlaced on Calendar Order of 3rd Reading ** May 8, 2023 5/11/2023SenateThird Reading - Passed; 056-000-000 5/11/2023HousePassed Both Houses 6/9/2023HouseSent to the Governor 7/28/2023HouseGovernor Approved 7/28/2023HouseEffective Date July 28, 2023 7/28/2023HousePublic Act . . . . . . . . . 103-0322