An order affecting ch. N 5, relating to renewal after 5 years.
Effective 1-1-01
An order affecting chs. RL 30, 31, 32, 33, 34 and 35, relating to private detectives, private detective agencies and private security personnel.
Effective 2-1-01
An order affecting chs. RL 17, 24 and 25, relating to real estate education requirements.
Effective 2-1-01
An order affecting chs. Trans 231 and 233, relating to division of land abutting a state trunk or connecting highway.
Effective 2-1-01
Public Notice
Department of Financial Institutions
Division of Savings Institutions
Notice of Interest Rate on Required
Residential Mortgage Loan Escrow Accounts
For 2001
Under Section 138.052 (5) (a), Stats., with some exceptions, a bank, credit union, savings bank, savings and loan association, or mortgage banker, which originates a residential mortgage loan requiring an escrow account to assure the payment of taxes or insurance, shall pay interest on the outstanding principal of the escrow.
Section 138.052 (5) (am) (2), Stats., directs the Department of Financial Institutions, Division of Savings Institutions, to determine annually the required interest rate. The rate is based on the average interest rate paid by Wisconsin depository institutions on passbook savings accounts.
The Department of Financial Institutions, Division of Savings Institutions, has calculated the interest rate required to be paid on escrow accounts under Section 138.052 (5), Stats., to be 2.53% for 2001. This interest rate shall remain in effect through December 31, 2001.
Contact Person:
Mr. John Gervasi, Acting Administrator
Division of Savings Institutions
Department of Financial Institutions
Telephone (608) 261-2300
The State of Wisconsin
Department of Administration
Bureau of Document Services
Document Sales and Distribution Section
P.O. Box 7840
Dated Material. Please Do Not Delay!
