R. 1182) 109th Congress Put of the Agent

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

A statement so you can prohibit any individual, regarding the an effective subprime federally associated mortgage, from providing financial financing solution or financial brokerage properties until such as for instance person is formal by the Secretary regarding Homes and you can Metropolitan Creativity features been effectively trained with regard to subprime credit

A costs so you’re able to impose restrictions and constraints with the higher-pricing mortgage loans, so you can up-date the latest permissible costs and you will charges to the certain types of financing, to help you ban unjust otherwise inaccurate financing means, in order to enable public education and you can counseling on the predatory loan providers. Also known as the Miller-Watt-Frank statement.

Support home ownership and in control lending (H.Fraud.Res. 127) 110th Congress Lead of the Representative. Elijah Cummings (MD) Cosponsored from the Agent. Keith Ellison (MN)

A concurrent resolution declaring the sense out of Congress one rules is end up being passed that protects buyers who had been subjects off unethical lenders and you may loan providers.

Giving support to the purpose of improved and you can renewable homeownership regarding the United Claims (H.Fraud.Res. 392) 110th Congress Brought from the Agent. Alcee Hastings (FL) Cosponsored from the 8 most other members of Congress and CBC participants Rep. Sanford Bishop (CA), Associate. Artur Davis (AL), Rep. Al Green (TX), Associate. Carolyn Kilpatrick (MI), Associate. Kendrick Meek (FL), Rep. Stephanie Tubbs Jones (OH), and you can Agent. Barbara Lee (CA)

A beneficial concurrent resolution supporting the aim of enhanced and you will renewable homeownership in the us and accepting the necessity of homeownership programs, reasonable financing guidelines, and fair housing laws and regulations for the reaching that purpose.

Fudge intricate a strict certification program to possess lenders and agencies exactly who point subprime loans plus a streamlined procedure having filing complaints up against shady brokers and you can agents

Recognizing the brand new disparities that are associated with predatory lending inside fraction communities (H.Con.Res. 391) 110th Congress Introduced by the Yvette Clarke (NY) Cosponsored from the Associate. Edolphus Towns and cities (NY)

An excellent concurrent quality taking the newest disparities which might be associated with the predatory credit violations within the fraction communities and you may declaring the feeling of your Congress you to definitely since the latest violations still emerge, like laws is make sure that each one of these accountable for representing and you can securing family members feel the expert to behave to handle such the fresh new difficulties.

Mortgage Change and you will Anti-Predatory Lending Act (H.R. 1728) 111th Congress Produced by Representative. Mel Watt (NC) having Associate. Brad Miller (NC) and you will Associate. Barney Frank (MA) Cosponsored by five other people in Congress

A statement so you’re able to change individual home loan means and gives responsibility to own particularly means as well as give specific lowest criteria to possess individual mortgage loans.

Representatives Maxine Seas (CA-43) and you may pioned the issue off reasonable lending because of the opening guidelines so you’re able to provide in control lending means. Inside the 2001, Representative. Seas, a chief to your economic situations during the Congress and blunt critic regarding predatory credit practices, produced the fresh new Securing Our Communities of Predatory Credit Work. The bill try geared towards protecting borrowers of dropping homes to help you predatory credit by, among other things, prohibiting mortgage lenders out-of making incorrect, inaccurate, otherwise misleading statements otherwise direction consumers on greater risk fund than simply they might if not be eligible for. Within her 2009 Predatory Financial Financing Techniques Cures Act, CBC sofa Agent.

A statement so you can authorize the Secretary out of Housing and you will Metropolitan Advancement making has so you can Says, systems off state, and you may nonprofit groups to possess counseling and you can studies apps with the protection from predatory credit in order to expose a cost-free phone number to own problems from predatory lending.