Legis Daily

To amend the Truth in Lending Act to create additional requirements for original and new creditors of mortgage loans in the case of a sale, transfer, or assignment of a mortgage loan, and for other purposes.

USA115th CongressHR-3538| House 
| Updated: 7/28/2017
Bobby L. Rush

Bobby L. Rush

Democratic Representative

Illinois

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Mortgage Sale Transparency Act of 2017 This bill amends the Truth in Lending Act to require in the event of a mortgage loan sale, transfer, or assignment to another creditor: (1) notice of the transfer to the borrower from the original creditor, (2) exemption from liability for the borrower in the event of an error in the transfer, and (3) a 90-day grace period for loan payments made by the borrower to the wrong lender.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 28, 2017
Introduced in House
Jul 28, 2017
Referred to the House Committee on Financial Services.
  • July 28, 2017
    Introduced in House


  • July 28, 2017
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Consumer creditHousing finance and home ownership

To amend the Truth in Lending Act to create additional requirements for original and new creditors of mortgage loans in the case of a sale, transfer, or assignment of a mortgage loan, and for other purposes.

USA115th CongressHR-3538| House 
| Updated: 7/28/2017
Mortgage Sale Transparency Act of 2017 This bill amends the Truth in Lending Act to require in the event of a mortgage loan sale, transfer, or assignment to another creditor: (1) notice of the transfer to the borrower from the original creditor, (2) exemption from liability for the borrower in the event of an error in the transfer, and (3) a 90-day grace period for loan payments made by the borrower to the wrong lender.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 28, 2017
Introduced in House
Jul 28, 2017
Referred to the House Committee on Financial Services.
  • July 28, 2017
    Introduced in House


  • July 28, 2017
    Referred to the House Committee on Financial Services.
Bobby L. Rush

Bobby L. Rush

Democratic Representative

Illinois

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Consumer creditHousing finance and home ownership