R. 1182) 109th Congress Delivered because of the Associate
The Prohibit Predatory Financing Operate (H. Mel Watt (NC) having Agent. Brad Miller (NC) and you will Representative. Barney Honest (MA) Cosponsored from the 65 people in Congress in addition to CBC users Representative. Sanford Bishop (GA), Associate. Corrine Brownish (FL), Representative. Grams.K. Butterfield (NC), Agent. Julia Carson (IN), Del. Donna Christensen (VI), Rep. Wm. Lacy Clay (MO), Agent. James Clyburn (SC), Associate. John Conyers (MI), Rep. Elijah Cummings (MD), Associate. Artur Davis (AL), Rep. Chaka Fattah (PA), Agent. Harold Ford Jr. (TN), Rep. Al Environmentally friendly (TX), Rep. Jesse Jackson Jr. (IL), Associate. Sheila Jackson-Lee (TX), Representative. William Jefferson (LA), Agent. Eddie Bernice Johnson (TX), Representative. Stephanie Tubbs Jones (OH), Associate. Carolyn Kilpatrick (MI), Associate. Barbara Lee (CA), Agent. John Lewis (GA), Associate. Cynthia McKinney (GA), Associate. Kendrick Meek (FL), Representative. Gregory Meeks (NY), Representative. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Rep. Major Owens (NY), Agent. Donald Payne (NJ), Associate. Charles Rangel (NY), Representative. Bobby Hurry (IL), Rep. David Scott (GA), Rep. Bobby Scott (VA), Associate. Bennie Thompson (MS), Agent. Edolphus Cities (NY), Agent. Maxine Waters (CA), Agent. Diane Watson (CA), Agent. Mel Watt (NC), and Agent. Al Wynn (MD)
A costs to help you prohibit anybody, regarding the good subprime federally relevant mortgage loan, of taking mortgage credit services or financial brokerage attributes until such as person is authoritative because of the Secretary away from Construction and you may Metropolitan Creativity and it has already been properly given it mention of the subprime lending
A bill to enforce constraints and you can constraints into highest-prices mortgages, so you’re able to upgrade the fresh permissible charge and you can fees to your certain types of financing, to ban unfair or misleading lending strategies, and to provide for public training and you will guidance about predatory lenders. Known as the latest Miller-Watt-Honest bill.
Help owning a home and in charge lending (H.Swindle.Res. 127) 110th Congress Delivered from the Rep. Elijah Cummings (MD) Cosponsored by Representative. Keith Ellison (MN)
A good concurrent quality stating the feeling off Congress you to statutes is end up being enacted one to handles people who were subjects out-of unscrupulous lenders and loan providers.
Giving support to the purpose of improved and you may sustainable homeownership from the Joined Says (H.Con.Res. 392) 110th Congress Lead by Agent. Alcee Hastings (FL) Cosponsored because of the 8 most other people in Congress in addition to CBC professionals Associate. Sanford Bishop (CA), Rep. Artur Davis (AL), Agent. Al Environmentally friendly (TX), Representative. Carolyn Kilpatrick (MI), Agent. Kendrick Meek (FL), Associate. Stephanie Tubbs Jones (OH), and you can Rep. Barbara Lee (CA)
A great concurrent solution supporting the aim of improved and you can green homeownership in the united states and you can acknowledging the necessity of homeownership applications, fair lending regulations, and fair casing regulations inside the reaching you to definitely objective.
Fudge outlined a rigid qualification system to own mortgage brokers and agents whom issue subprime funds as well as a sleek techniques having submitting problems up against unethical brokers and you will agencies
Recognizing this new disparities that will be with the predatory financing during the fraction organizations (H.Swindle.Res. 391) 110th https://simplycashadvance.net/payday-loans-wi/ Congress Put of the Yvette Clarke (NY) Cosponsored by the Associate. Edolphus Towns (NY)
A beneficial concurrent quality taking the disparities which might be of this predatory financing abuses during the minority organizations and you can saying the sense of Congress you to definitely once the the new abuses continue steadily to arise, particularly legislation should make certain that each one of these responsible for symbolizing and you will securing family have the power to do something to deal with these types of the fresh difficulties.
Mortgage Reform and you can Anti-Predatory Credit Act (H.Roentgen. 1728) 111th Congress Delivered from the Rep. Mel Watt (NC) which have Agent. Brad Miller (NC) and you may Associate. Barney Honest (MA) Cosponsored by the five other members of Congress
A costs so you can reform consumer home loan practices and gives responsibility to have like techniques as well as to provide particular lowest standards having user mortgage loans.
Representatives Maxine Seas (CA-43) and you may pioned the issue out of fair lending because of the initiating laws to promote in charge lending techniques. In the 2001, Agent. Waters, a commander towards economic items into the Congress and you may blunt critic from predatory lending means, brought new Protecting Our Groups of Predatory Financing Operate. The balance are geared towards protecting consumers from shedding house so you’re able to predatory financing by, on top of other things, prohibiting mortgage brokers away from and work out incorrect, misleading, otherwise misleading comments otherwise steering consumers on higher risk financing than just they will if you don’t qualify for. Within her 2009 Predatory Mortgage Financing Techniques Prevention Work, CBC chair Agent.
A bill to authorize the fresh Assistant away from Houses and you will Urban Advancement and make features in order to States, products out-of state, and nonprofit organizations for counseling and you can studies software into protection regarding predatory financing and to introduce a toll-free contact number getting issues regarding predatory lending.
