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#2180915 - 06/06/18 05:59 PM Elimination of Interest on Ceratin Escrow Accounts
#Just Jay Online
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Has anyone heard very much on this topic at all? It appears the legislature approved this in April, but I have not seen anything about it unless I have gone digging for it.

The May issue of the WBA Compliance Journal and the DFI website both appear silent on this, but it is in the bill AB822.
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#2180916 - 06/06/18 06:10 PM Re: Elimination of Interest on Ceratin Escrow Accounts #Just Jay
DoS Offline
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DoS
Joined: Apr 2012
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one state over
Honestly, this is the first I am hearing about it. I will post if I find anything
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#2180921 - 06/06/18 06:27 PM Re: Elimination of Interest on Ceratin Escrow Accounts #Just Jay
rlcarey Online
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rlcarey
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Galveston, TX
The Statue has been changed and the way I read it, any loan made after 04/18/18 is exempt from the requirement to pay interest. See paragraph 5.

https://docs.legis.wisconsin.gov/statutes/statutes/138/052
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#2180922 - 06/06/18 06:36 PM Re: Elimination of Interest on Ceratin Escrow Accounts #Just Jay
#Just Jay Online
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#Just Jay
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Cheeseheadland
That is what it looks like to me as well... just seems to simple! laugh
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#2180928 - 06/06/18 07:03 PM Re: Elimination of Interest on Ceratin Escrow Accounts #Just Jay
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,361
Galveston, TX
Looks pretty straight forward based on the preamble to the proposed legislation.

http://docs.legis.wisconsin.gov/2017/related/proposals/ab822.pdf
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