H.R.1728 - Mortgage Reform and Anti-Predatory Lending Act Sponsor: R. Miller / 111th Congress

Title
111th Congress - To amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to provide certain minimum standards for consumer mortgage loans, and for other purposes. hidemore...
Summary
To amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to provide certain minimum standards for consumer mortgage loans, and for other purposes. (by CRS)
Status
The bill was voted on in the House on May 7, 2009

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Interests who did want this bill to become law included these interests and specific groups:

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Contribution data provided by the Center for Responsive Politics (OpenSecrets.org)

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H.R. 1728: Incomplete and Unsatisfactory by Karen Chung, Apr 24, 2009 (12:24am)

H.R. 1728 (111th) is similar to H.R. 3915 (110th) which passed the House in 2007. Many organizations from all fronts (consumer rights, lending, real estate) oppose specific provisions of this bill because it does not address the dramatic differences between the economic environment of 2007 and today. For example, some opponents of the legislation argue that it should eliminate or realign incentives for pushing risky loan products. If the bill’s true intent is to stop abuses and predatory practices in the mortgage market, Congress should seriously consider the revisions suggested by consumer advocacy organizations.

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