R. 1182) 109th Congress Lead because of the Representative

The fresh new Prohibit Predatory Financing Act (H. Mel Watt (NC) with Rep. Brad Miller (NC) and you can Associate. Barney Honest (MA) Cosponsored of the 65 people in Congress and CBC participants Associate. Sanford Bishop (GA), Representative. Corrine Brownish (FL), Rep. Grams.K. Butterfield (NC), Rep. Julia Carson (IN), Del. Donna Christensen (VI), Representative. Wm. Lacy Clay (MO), Rep. James Clyburn (SC), Associate. John Conyers (MI), Rep. Elijah Cummings (MD), Associate. Artur Davis (AL), Associate. Chaka Fattah (PA), Agent. Harold Ford Jr. (TN), Representative. Al Environmentally friendly (TX), Agent. Jesse Jackson Jr. (IL), Representative. Sheila Jackson-Lee (TX), Associate. William Jefferson (LA), Representative. Eddie Bernice Johnson (TX), Agent. Stephanie Tubbs Jones (OH), Agent. Carolyn Kilpatrick (MI), Representative. Barbara Lee (CA), Associate. John Lewis (GA), Agent. Cynthia McKinney (GA), Associate. Kendrick Meek (FL), Agent. Gregory Meeks (NY), Associate. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Associate. Big Owens (NY), Representative. Donald Payne (NJ), Representative. Charles Rangel (NY), Agent. Bobby Rush (IL), Associate. David Scott (GA), Representative. Bobby Scott (VA), Representative. Bennie Thompson (MS), Representative. Edolphus Locations (NY), Associate. Maxine Seas (CA), Associate. Diane Watson (CA), Representative. Mel Watt (NC), and you may Agent. Al Wynn (MD)

A statement to ban any person, in connection with an excellent subprime federally associated home mortgage, from providing mortgage lending provider otherwise home loan brokerage functions except if instance body is authoritative from the Secretary off Housing and Metropolitan Innovation and has come sufficiently trained with reference to subprime financing

A costs to help you impose limitations and you will restrictions for the highest-prices mortgage loans, to help payday loans Noroton you inform brand new permissible charge and you can charge into the certain types of loans, to ban unfair or deceptive lending practices, and also to permit personal education and you will counseling from the predatory lenders. Called brand new Miller-Watt-Honest statement.

Support owning a home and you can in charge financing (H.Fraud.Res. 127) 110th Congress Brought of the Associate. Elijah Cummings (MD) Cosponsored by the Associate. Keith Ellison (MN)

A great concurrent solution saying the feeling off Congress you to definitely regulations is always to getting enacted one protects buyers who had been subjects of unscrupulous home loans and you may loan providers.

Supporting the goal of increased and green homeownership in the Joined Claims (H.Fraud.Res. 392) 110th Congress Delivered from the Associate. Alcee Hastings (FL) Cosponsored by the 8 other people in Congress plus CBC users Agent. Sanford Bishop (CA), Representative. Artur Davis (AL), Associate. Al Environmentally friendly (TX), Agent. Carolyn Kilpatrick (MI), Rep. Kendrick Meek (FL), Representative. Stephanie Tubbs Jones (OH), and you will Associate. Barbara Lee (CA)

An excellent concurrent solution giving support to the goal of enhanced and renewable homeownership in the usa and accepting the necessity of homeownership applications, reasonable financing guidelines, and you may reasonable property guidelines when you look at the gaining you to definitely objective.

Fudge in depth a rigid degree system having mortgage brokers and you may representatives who question subprime money and additionally a streamlined process to possess submitting issues facing shady brokers and you will agencies

Acknowledging new disparities which might be of the predatory credit during the fraction communities (H.Fraud.Res. 391) 110th Congress Brought of the Yvette Clarke (NY) Cosponsored because of the Agent. Edolphus Locations (NY)

A great concurrent quality acknowledging the fresh new disparities that are associated with the predatory credit abuses within the fraction communities and you will declaring the feeling of one’s Congress you to definitely once the the violations consistently emerge, eg laws and regulations should ensure that all these guilty of representing and protecting parents have the power to behave to address these types of the newest issues.

Mortgage Reform and you may Anti-Predatory Financing Work (H.R. 1728) 111th Congress Introduced from the Associate. Mel Watt (NC) having Representative. Brad Miller (NC) and you can Rep. Barney Frank (MA) Cosponsored from the four other members of Congress

A costs in order to reform user mortgage practices and offer liability having for example strategies as well as provide particular minimum standards having consumer mortgage loans.

Representatives Maxine Waters (CA-43) and you may pioned the situation off fair lending by initiating laws and regulations in order to give in control financing means. Within the 2001, Representative. Oceans, a leader to the financial points when you look at the Congress and you may blunt critic out-of predatory financing techniques, put brand new Securing The Groups off Predatory Financing Act. The balance is intended for securing individuals out of losing house so you can predatory lending because of the, among other things, prohibiting lenders of while making untrue, inaccurate, or mistaken statements or steering people into greater risk loans than they will otherwise qualify for. In her 2009 Predatory Home loan Credit Means Avoidance Work, CBC sofa Rep.

A bill so you’re able to authorize the fresh new Assistant regarding Houses and you will Metropolitan Development to make grants in order to States, units from state, and you may nonprofit organizations getting counseling and you can training applications toward protection out of predatory credit and to expose a toll-free telephone number having issues out-of predatory financing.