3.0.0 1486 2021-07-10T17:36:18Z 2021-07-10T17:36:18Z House H HR 2009-03-12 111 hsba00 Financial Services Committee House Standing Referred to 2009-03-12T14:06:46Z 2009-03-12 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-03-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-03-12 Introduced in House IntroReferral 1000 9 Library of Congress M001148 Rep. Meek, Kendrick B. [D-FL-17] Kendrick Meek D FL B. 17 N Finance and Financial Sector Bankruptcy Consumer affairs Consumer credit Housing finance and home ownership Finance and Financial Sector 00 2009-03-12 Introduced in House 2009-06-12T19:01:44Z Mortgage Credit Repair Act of 2009 - Amends the Fair Credit Reporting Act to define "front end ratio" as a ratio that indicates what portion of an individual's income is used to make mortgage payments, calculated by dividing an individual's gross monthly income by their housing expenses, particularly the mortgage principal, interest, taxes, and insurance (PITI).

Prohibits a consumer reporting agency from making a consumer report containing cases under title 11 or under the Bankruptcy Act that antedate the report by more than three years when certain criteria are met. Includes among such criteria that a consumer's front-end debt ratio on a mortgage instrument originated or refinanced on or after January 1, 2003, was 37% or higher for at least six months before and continuing through the time that the bankruptcy is filed.

Prohibits a consumer reporting agency from making a consumer report containing any adverse information excluding bankruptcy, but including closed accounts, amounts in collections, accounts charged to profit or loss, repossessions, and foreclosures, if certain circumstances have occurred.

]]> Mortgage Credit Repair Act of 2009 Short Titles as Introduced Mortgage Credit Repair Act of 2009 Display Title Mortgage Credit Repair Act of 2009 Official Title as Introduced To amend the Fair Credit Reporting Act with respect to requirements relating to information contained in consumer reports, and for other purposes. Introduced in House 2009-03-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr1486ih/xml/BILLS-111hr1486ih.xml 2009-03-12 Referred to the House Committee on Financial Services. 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.