3.0.0 2114 2023-01-11T20:27:33Z 2023-01-11T20:27:33Z Senate S S 2007-09-27 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-09-27T23:29:15Z 2007-09-27 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2007-09-27 Introduced in Senate IntroReferral 10000 9 Library of Congress C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R N Housing and Community Development Crime and Law Enforcement Data banks Economics and Public Finance Federal aid to housing Federally-assisted loans Finance and Financial Sector Foreclosure Fraud Government Operations and Politics Government paperwork Government trust funds Loan defaults Low-income housing Moderate income housing Mortgages Prosecution Science, Technology, Communications Social Welfare Housing and Community Development 00 2007-09-27 Introduced in Senate 2007-12-14T22:23:20Z American Home Ownership Preservation Act of 2007 - Amends the Truth in Lending Act to require certain mortgage originators or lenders with primary responsibility for underwriting an assessment on a home mortgage loan to include a borrower's ability to repay certain associated costs.

Requires a mortgage broker to clearly disclose its relationship to the borrower.

Directs the federal banking agencies to establish a nationwide registry and database system in which all mortgage brokers in the United States must register.

Eliminates prepayment penalties for home mortgages.

Instructs the Secretary of the Department of Housing and Urban Development (HUD) to make grants to state governments and tribal organizations to assist: (1) programs established for foreclosure mitigation; and (2) housing trust funds supporting low- and moderate-income housing.

Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to direct the HUD Secretary to establish an annual goal for each government-sponsored enterprise to identify and assist homeowners at risk of default or foreclosure on their mortgage, but who would be able to stabilize the situation with fixed rate 30- or 40-year mortgages.

Authorizes appropriations for mortgage fraud enforcement and prosecution.

]]> American Home Ownership Preservation Act of 2007 Official Title as Introduced A bill to amend the Truth in Lending Act, to provide for enhanced disclosures to consumers and enhanced regulation of mortgage brokers, and for other purposes. Introduced in Senate IS Display Title American Home Ownership Preservation Act of 2007 Short Titles as Introduced American Home Ownership Preservation Act of 2007 Introduced in Senate 2007-09-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2114is/xml/BILLS-110s2114is.xml 2007-09-27 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.