II
115th CONGRESS
2d Session
S. 2490
IN THE SENATE OF THE UNITED STATES
March 5, 2018
Mr. Scott (for himself and Mr. Jones) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Real Estate Settlement Procedures Act of 1974 to modify requirements related to mortgage disclosures.
Short title
This Act may be cited as the TRID Improvement Act of 2018
.
Amendments to mortgage disclosure requirements
Section 4(a) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2603(a)) is amended—
by striking itemize all charges
and inserting itemize all actual charges
;
by striking and all charges imposed upon the seller in connection with the settlement and
and inserting and the seller in connection with the settlement. Such forms
; and
by inserting after or both.
the following: Charges for any title insurance premium disclosed on such forms shall be equal to the amount charged for each individual title insurance policy, subject to any discounts as required by State regulation or the title company rate filings.
.