HB1509Introduced in the House of Delegates
Financial Institutions - Mortgage Servicers - Insurance Proceeds
Introduced by Denise Roberts, District 25
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Requiring a mortgage servicer that receives certain insurance proceeds to deposit the proceeds into a certain interest bearing account; requiring a borrower to elect the use of the interest earnings on the insurance proceeds; requiring certain interest earnings to begin accruing by a certain date; authorizing a mortgage servicer to charge a fee for disbursement of interest earnings subject to certain limitations; and requiring certain methods and procedures for disbursement of insurance proceeds and interest earnings.
Where it stands
Hearing canceled
March 6, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
Bill history
First Reading Economic Matters
Hearing 3/10 at 1:00 p.m.
Hearing canceled
Verify the information
Our commitment to neutrality
We provide factual information only. We never tell you which politicians or bills to support, and we do not rank, score, or endorse anyone.