H.R. 1728 - Mortgage Reform and Anti-Predatory Lending Act

Mortgage Reform and Anti-Predatory Lending Act

H.R. 1728 — 111^th Congress (2009–2010)

Keywords

Mortgage market, Subprime market, Foreclosure crisis, Fraud, Homeowner, Loans

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)

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Title

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.

Other Titles

• Mortgage Reform and Anti-Predatory Lending Act
• Expand and Preserve Home Ownership Through Counseling Act
• Mortgage Reform and Anti-Predatory Lending Act
• Expand and Preserve Home Ownership Through Counseling Act

Sponsor

R. Miller

Co-Sponsors

• Joe Baca
• Barney Frank
• Luis Gutiérrez
• Paul Kanjorski
• Sheila Jackson-Lee
• Kendrick Meek
• Gregory Meeks
• Melvin Watt
• Melissa Bean
• Betty Sutton
• Walter Minnick

Subjects

• Housing and community development
• Administrative law and regulatory procedures
• Alternative dispute resolution, mediation, arbitration
• Bank accounts, deposits, capital
• Banking and financial institutions regulation
• Civil actions and liability
• Congressional oversight
• Consumer affairs
• Consumer credit
• Department of Housing and Urban Development
• Department of the Treasury
• Executive agency funding and structure
• Federal Deposit Insurance Corporation (FDIC)
• Federal Reserve System
• Fraud offenses and financial crimes
• Government information and archives
• Government investigations
• Government lending and loan guarantees
• Housing and community development funding
• Housing finance and home ownership
• Insurance industry and regulation
• Interest, dividends, interest rates
• Legal fees and court costs
• Low- and moderate-income housing
• National Credit Union Administration
• User charges and fees

Related Bills

• H.Res. 400 (111^th) : Providing for Consideration of the Bill (H.R. 1728) 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.
• H.Res. 406 (111^th) : Providing for Further Consideration of the Bill (H.R. 1728) 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.

Major Actions

Introduced	3/26/2009
Referred to Committee
Amendments (15 proposed)
Passed House	5/07/2009

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
select this vote	House	On agreeing to the Frank (MA) amendment (A001) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	On agreeing to the Bachus amendment (A003) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	On agreeing to the Perlmutter amendment (A004) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	On agreeing to the Moore (KS) amendment (A006) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	On agreeing to the McNerney amendment (A008) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	On agreeing to the Dahlkemper amendment (A010) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	On agreeing to the Brown-Waite, Ginny amendment (A011) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	On agreeing to the Titus amendment (A012) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	On agreeing to the Diaz-Balart, M. amendment (A013) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
select this vote	House	Amendment 2 to H.R. 1728	5/07/2009	This amendment PASSED the House 245 voted YES 176 voted NO 18 voted present/not voting
select this vote	House	Amendment 5 to H.R. 1728	5/07/2009	This amendment DID NOT PASS the House 171 voted YES 252 voted NO 16 voted present/not voting
select this vote	House	Amendment 7 to H.R. 1728	5/07/2009	This amendment DID NOT PASS the House 167 voted YES 259 voted NO 13 voted present/not voting
select this vote	House	Amendment 9 to H.R. 1728	5/07/2009	This amendment DID NOT PASS the House 171 voted YES 255 voted NO 13 voted present/not voting
select this vote	House	On agreeing to the Frank (MA) amendment (A015) Agreed to by voice vote.	5/07/2009	This amendment PASSED the House 434 voted YES 0 voted NO 0 voted present/not voting
currently selected	House	On Passage - House - H.R. 1728 Mortgage Reform and Anti-Predatory Lending Act	5/07/2009	This bill PASSED the House 300 voted YES 114 voted NO 19 voted present/not voting

	Action	Date	Description
	Introduced	3/26/2009
		3/26/2009	Referred to the House Committee on Financial Services.
		4/23/2009	Committee Hearings Held.
		4/29/2009	Committee Consideration and Mark-up Session Held.
	Put on a legislative calendar	4/29/2009	Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 21.
		5/04/2009	Reported (Amended) by the Committee on Financial Services. H. Rept. 111-94.
	Put on a legislative calendar	5/04/2009	Placed on the Union Calendar, Calendar No. 42.
		5/05/2009	Rules Committee Resolution H. Res. 400 Reported to House. Rule provides for consideration of H.R. 1728 with 1 hour of general debate. Measure will be considered read. Bill is closed to amendments. The resolution waives all pints of order against consideration of the bill except those arising under clause 9 and 10 of rule XXI. The resolution provides that the Committee of the Whole shall rise without motion after general debate and that no further consideration of the bill shall occur except pursuant to a subsequent order of the House.
		5/06/2009	Rule H. Res. 400 passed House.
		5/06/2009	Considered under the provisions of rule H. Res. 400.
		5/06/2009	Rule provides for consideration of H.R. 1728 with 1 hour of general debate. Measure will be considered read. Bill is closed to amendments. The resolution waives all pints of order against consideration of the bill except those arising under clause 9 and 10 of rule XXI. The resolution provides that the Committee of the Whole shall rise without motion after general debate and that no further consideration of the bill shall occur except pursuant to a subsequent order of the House.
		5/06/2009	House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 400 and Rule XVIII.
		5/06/2009	The Speaker designated the Honorable Mike Ross to act as Chairman of the Committee.
		5/06/2009	GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1728.
		5/06/2009	Committee of the Whole House on the state of the Union rises leaving H.R. 1728 as unfinished business.
		5/07/2009	Considered as unfinished business.
		5/07/2009	The House resolved into Committee of the Whole House on the state of the Union for further consideration.
		5/07/2009	FUTHER CONSIDERATION OF H.R. 1728 - Pursuant to the provisions of H.Res. 406, the Committee of the Whole resumed consideration of H.R. 1728 and the amendments made in order thereto by the rule.
		5/07/2009	DEBATE - Pursuant to the provisions of H. Res. 406, the Committee of the Whole proceeded with 30 minutes of debate on the Frank (MA) amendment number 1.
		5/07/2009	Amendment (A001) offered by Mr. Frank (MA).
		5/07/2009	The Committee of the Whole rose informally in order to receive a message from the President. Subsequently, the Committee resumed its sitting.
select this vote	Vote	5/07/2009	On agreeing to the Frank (MA) amendment (A001) Agreed to by voice vote.
		5/07/2009	DEBATE - Pursuant to the provisions of H. Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Frank (MA) amendment number 2.
		5/07/2009	Amendment (A002) offered by Mr. Frank (MA).
		5/07/2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the Frank (MA) amendment number 2, the Chair put the question on adoption of the amendment and by voice vote, announced the ayes had prevailed. Ms. Bachmann demanded a recorded vote and the Chair postponed further proceedings until later in the legislative day.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Bachus amendment.
		5/07/2009	Amendment (A003) offered by Mr. Bachus.
select this vote	Vote	5/07/2009	On agreeing to the Bachus amendment (A003) Agreed to by voice vote.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Perlmutter amendment.
		5/07/2009	Amendment (A004) offered by Mr. Perlmutter.
select this vote	Vote	5/07/2009	On agreeing to the Perlmutter amendment (A004) Agreed to by voice vote.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Hensarling amendment.
		5/07/2009	Amendment (A005) offered by Mr. Hensarling.
		5/07/2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the Hensarling amendment, the Chair put the question on the adoption of the amendment and by voice vote, announced the noes had prevailed. Mr. Hensarling demanded a recorded vote and the Chair postponed further proceedings until later in the legislative day.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Moore (KS) amendment.
		5/07/2009	Amendment (A006) offered by Mr. Moore (KS).
select this vote	Vote	5/07/2009	On agreeing to the Moore (KS) amendment (A006) Agreed to by voice vote.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Price (GA) amendment.
		5/07/2009	Amendment (A007) offered by Mr. Price (GA).
		5/07/2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the Price (GA) amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Mr. Price (GA) demanded a recorded vote and the Chair postponed further proceedings until later in the legislative day.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the McNerney amendment.
		5/07/2009	Amendment (A008) offered by Mr. McNerney. (consideration: CR H5358-5359; text: H5358)
select this vote	Vote	5/07/2009	On agreeing to the McNerney amendment (A008) Agreed to by voice vote.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the McHenry amendment.
		5/07/2009	Amendment (A009) offered by Mr. McHenry.
		5/07/2009	POSTPONED PROCEEDINGS - At the conclusion of debate on the McHenry amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Mr. McHenry demanded a recorded vote and the Chair postponed further proceedings until later in the legislative day.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Dahlkemper amendment.
		5/07/2009	Amendment (A010) offered by Mrs. Dahlkemper.
select this vote	Vote	5/07/2009	On agreeing to the Dahlkemper amendment (A010) Agreed to by voice vote.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Brown-Waite amendment.
		5/07/2009	Amendment (A011) offered by Ms. Brown-Waite, Ginny. (consideration: CR H5360-5361; text: H5360)
select this vote	Vote	5/07/2009	On agreeing to the Brown-Waite, Ginny amendment (A011) Agreed to by voice vote.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Titus amendment.
		5/07/2009	Amendment (A012) offered by Ms. Titus.
select this vote	Vote	5/07/2009	On agreeing to the Titus amendment (A012) Agreed to by voice vote.
		5/07/2009	DEBATE - Pursuant to the provisions of H.Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Mario Diaz-Balart amendment.
		5/07/2009	Amendment (A013) offered by Mr. Diaz-Balart, M..
select this vote	Vote	5/07/2009	On agreeing to the Diaz-Balart, M. amendment (A013) Agreed to by voice vote.
		5/07/2009	Amendment (A014) offered by Mr. Weiner.
		5/07/2009	Weiner amendment (A014) modified by unanimous consent.
		5/07/2009	DEBATE - Pursuant to the provisions of H. Res. 406, the Committee of the Whole proceeded with 10 minutes of debate on the Weiner amendment, as modified.
		5/07/2009	UNFINISHED BUSINESS - The Chair announced that the unfinished business was on the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
		5/07/2009	On agreeing to the Weiner amendment (A014) as modified Agreed to by voice vote.
select this vote	Vote	5/07/2009	Amendment 2 to H.R. 1728
select this vote	Vote	5/07/2009	Amendment 5 to H.R. 1728
select this vote	Vote	5/07/2009	Amendment 7 to H.R. 1728
select this vote	Vote	5/07/2009	Amendment 9 to H.R. 1728
		5/07/2009	The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1728.
		5/07/2009	The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
		5/07/2009	The previous question was ordered pursuant to the rule.
		5/07/2009	Mr. Sessions moved to recommit with instructions to Financial Services.
		5/07/2009	DEBATE - The House proceeded with 10 minutes of debate on the Sessions motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment adding a new section setting forth guidelines for accountability and transparancy for grant recipients.
		5/07/2009	The previous question on the motion to recommit with instructions was ordered without objection.
		5/07/2009	On motion to recommit with instructions Agreed to by voice vote.
		5/07/2009	Amendment (A015) offered by Mr. Frank (MA).
select this vote	Vote	5/07/2009	On agreeing to the Frank (MA) amendment (A015) Agreed to by voice vote.
currently selected	House Vote on Passage	5/07/2009	On Passage - House - H.R. 1728 Mortgage Reform and Anti-Predatory Lending Act
		5/07/2009	The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 1728.
		5/12/2009	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

	Number	Sponsor	Date Offered	Status
select this vote	H. Amdt. 107	Frank, Barney [D-MA4]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment is a managers' amendment which incorporates various and sundry clarifying changes in the bill. Show amendment details
select this vote	H. Amdt. 108	Frank, Barney [D-MA4]	May 7, 2009	Passed by roll call vote on May 7, 2009.
	Amendment provides that no funds in the bill for legal assistance or housing counseling grants may be distributed to any organization which has been, or which employs an individual who has been, convicted within 10 years of the date of applying for legal assistance for a felony violation under Federal law relating to an election for Federal office. Show amendment details
select this vote	H. Amdt. 109	Bachus, Spencer [R-AL6]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment provides assistance to the Neighborhood Reinvestment Corporation for activities, in connection with servicers of residential mortgage loans, to inform borrowers under such loans who are delinquent with respect to payments due under such loans, of the dangers of fraudulent activities associated with foreclosure. Show amendment details
select this vote	H. Amdt. 110	Perlmutter, Ed [D-CO7]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment changes the grace period for renters who are renting a unit in violation of a mortgage contract put into place when that property is sold to a purchaser who intends to use the property as an owner-occupied unit, from 90 days to 30 days. Further, the amendment provides that creditors may only accelerate debt repayment in circumstances involving default in payment, a due-on-sale clause or a material violation in the contract. Show amendment details
select this vote	H. Amdt. 111	Hensarling, Jeb [R-TX5]	May 7, 2009	Failed by roll call vote on May 7, 2009.
	Amendment sought to strike the assignee and securitizer liability provisions from the bill. Show amendment details
select this vote	H. Amdt. 112	Moore, Dennis [D-KS3]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment requires income to be verified by lenders utilizing IRS tax transcripts or similar methods that verify income by a third party. Show amendment details
select this vote	H. Amdt. 113	Price, Tom [R-GA6]	May 7, 2009	Failed by roll call vote on May 7, 2009.
	Amendment sought to delay the enactment of titles I, II, and III of the bill until the Federal Reserve certifies that it will not reduce the availability of, or increase the price of credit for, qualified mortgages. Show amendment details
select this vote	H. Amdt. 114	McNerney, Jerry [D-CA11]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment stipulates that when awarding assistance to HUD-approved housing counseling agencies and/or state housing finance agencies, the Secretary may give priority consideration to entities serving areas with high rates of foreclosure. Show amendment details
select this vote	H. Amdt. 115	McHenry, Patrick [R-NC10]	May 7, 2009	Failed by roll call vote on May 7, 2009.
	Amendment sought to strike title III of the bill which deals with high-cost mortgages. Show amendment details
select this vote	H. Amdt. 116	Dahlkemper, Kathleen [D-PA3]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment requires that benefits of pre-payment of mortgage balances be explained in the consumer education guide produced by HUD. Show amendment details
select this vote	H. Amdt. 117	Brown-Waite, Virginia [R-FL5]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment expands the scope of the GAO study required under the bill to include an examination of any effects on consumer and small business credit availability and affordability. Show amendment details
select this vote	H. Amdt. 118	Titus, Dina [D-NV3]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment requires that the costs and benefits of each residential mortgage loan offered, discussed, or referred to by the originator, be clearly presented side by side and that the disclosures for each product have equal prominence. Amendment also provides that disclosure must be made in writing, the understanding of which will be acknowledged by the signature of the mortgage originator and consumer. Show amendment details
select this vote	H. Amdt. 119	Diaz-Balart, Mario [R-FL25]	May 7, 2009	Passed by voice vote on May 7, 2009.
	Amendment requires the Secretary of HUD to study the effects of the presence of Chinese dry wall on foreclosures and the availability of property insurance for residential structures where Chinese dry wall is present. Show amendment details
	H. Amdt. 120	Weiner, Anthony [D-NY9]	May 7, 2009	Offered on May 6, 2009.
	Amendment requires Fannie Mae and Freddie Mac to take into account factors such as the health of the local or regional housing market and other factors when determining fee schedules, occupancy and pre-sale guidelines for condominium and cooperative housing mortgages. As modified, the amendment is restructured to address the purchases of condominiums and cooperative housing units instead of the availability of affordable mortgage credits for the same. Show amendment details
select this vote	H. Amdt. 121	Frank, Barney [D-MA4]	May 7, 2009	Passed by voice vote on May 7, 2009.
	See item 459 for explanation. Show amendment details