House Sponsors: SAVIANO-HOWARD. Short description: MORTGAGE ESCROW ACCT INTEREST Synopsis of Bill as introduced: Amends the Mortgage Escrow Account Act. Requires a mortgage lender to pay interest to the borrower on escrow accounts at the rate the largest bank with its main banking premises in Illinois pays on standard savings accounts. Effective immediately. FISCAL NOTE (Dpt. Financial Institutions) HB1276 would have no fiscal impact on the Department. STATE MANDATES FISCAL NOTE In the opinion of DCCA, HB1276 fails to create a State mandate under the State Mandates Act. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status