The civic record
Read. Follow. Verify.North Dakota House Bill 1378 Establishes Mandatory Interest Payments on Residential Mortgage Escrow Accounts
Last action · February 3, 2025: Second reading, failed to pass, yeas 14 nays 78Sponsor: Jorin Johnson
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What This Bill Proposed
Mortgage lenders and servicers in North Dakota would be required to pay at least 0.5% annual interest on residential mortgage s maintaining a minimum average balance of $500, under a failed House bill. The measure applied to new escrow accounts created after the effective date and set January 1, 2026, for existing accounts to begin earning interest.
Residential mortgage s would see financial returns on funds held by lenders for property taxes and insurance, while financial institutions would incur compliance and payout obligations.
- House Bill 1378 was introduced during the Sixty-ninth Legislative Assembly of North Dakota and ultimately failed to pass in the House. context
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
Borrowers
Residential mortgage borrowers are eligible to earn a minimum of one-half percent annual interest on qualifying escrow account balances.
Lenders
Banks, mortgage companies, credit unions, and servicers must calculate, pay, and disclose interest on qualifying escrow accounts.
North Dakota housing finance agency
The agency is explicitly excluded from the definition of a lender and the requirements of the act.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the minimum balance required for an escrow account to earn interest under this bill?
Are all financial institutions holding escrows required to comply?
Can a borrower choose not to receive interest on their escrow account?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Failed in the House.
Procedural history
6 actions- Feb 3, 2025HouseSecond reading, failed to pass, yeas 14 nays 78
- Jan 31, 2025HouseLaid over one legislative day
- Jan 30, 2025HouseCommitteeAmendment adopted, placed on calendar
- Jan 29, 2025HouseCommitteeReported back amended, do pass, amendment placed on calendar 11 2 1
- Jan 20, 2025HouseCommitteeCommittee Hearing 09:00
- Jan 13, 2025HouseIntroducedIntroduced, first reading, referred Industry, Business and Labor Committee
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Mandatory Escrow Interest Proposal
The bill attempted to introduce statutory interest payment requirements for residential mortgage escrow accounts in North Dakota.
Connected Entities
Sources
ndlegis.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 60)
- Controversy55Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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