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HR 3147 101th Congress House

Escrow Account Statement Act

Official title: To amend the Real Estate Settlement Procedures Act of 1974 to require lenders and escrow servicers who establish mortgage escrow accounts to provide borrowers with statements regarding the accounts.

Introduced: September 20, 1989 See on congress.gov
Housing and Community Development CommerceFederally-assisted loansFines (Penalties)Government paperwork
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Housing financeMortgage loansReal estate business
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 15, 1989
Referred to the Subcommittee on Housing and Community Development.
Aug 4, 1989
Referred to the House Committee on Banking, Finance + Urban Affrs.
Aug 4, 1989
Introduced in House
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 Latest action August 15, 1989

Referred to the Subcommittee on Housing and Community Development.

 Plain-English summary Congressional Research Service

Escrow Account Statement Act - Amends the Real Estate Settlement Procedures Act of 1974 to mandate that an escrow servicer or lender that has established an escrow account in connection with a federally related mortgage loan submit to the borrower statements which clearly itemize: (1) at the opening or closing of the account, the charges which are reasonably anticipated to be paid from the account; and (2) annually, the amounts actually paid from such account as well as the annual balance. Establishes a civil penalty for failure to submit such itemized statements.

Prohibits a lender from imposing preparation fees for escrow account statements.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 2
FROST, MARTIN
· Sep 26, 1989
 D
Pallone, Frank
New Jersey · Sep 20, 1989
 D
Pelosi, Nancy
California · Sep 6, 1989
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3147: Escrow Account Statement Act. 101st Congress. Open America. https://openamerica.io/bill/101-HR-3147/
MLA
"H.R. 3147: Escrow Account Statement Act." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-HR-3147/.
Bluebook (legal)
H.R. 3147, 101st Cong. (2026), https://openamerica.io/bill/101-HR-3147/.
Markdown link
[H.R. 3147: Escrow Account Statement Act](https://openamerica.io/bill/101-HR-3147/)
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