TRUTH IN LENDING ACT

Bills and resolutions

Colleges and universities: clarify application of prepayment amounts on student loans (see H.R. 4236), H2432 [13MR]

——— provide for disclosure and codes of conduct with respect to consumer financial products or services and institutions of higher education (see S. 2385), S3293 [22MY]

Credit: empower States to set the maximum annual percentage rates applicable to consumer credit transactions (see H.R. 4183), H2256 [6MR]

——— establish a national usury rate for consumer credit transactions (see H.R. 5130), H6397 [17JY]

——— establish requirements for treatment of a private education loan upon the death or bankruptcy of a cosigner of the loans (see H.R. 4511), H3291 [29AP] (see H.R. 4643), H4058 [9MY]

——— exempt certain high-risk mortgages from property appraisal requirements and exempt individuals from penalties for failure to report certain appraisers (see H.R. 5148), H6398 [17JY]

——— prohibit private educational lenders from requiring accelerated repayment of private education loans upon the death or disability of the cosigner of the loan (see H.R. 4513), H3291 [29AP]

——— strengthen certain disclosure requirements for creditors (see H.R. 5639), H7886 [18SE]

Education: require additional disclosures and protections for students and cosigners relative to student loans (see S. 2460), S3544 [10JN]

——— require certain protections for student loan borrowers and provide reasonable and flexible repayment options, access to earned credentials, and loan cancellation in exchange for public service (see H.R. 3892), H472 [15JA]

Financial institutions: clarify application of certain leverage and risk-based requirements and improve definitions of points and fees for mortgage transactions (see H.R. 5461), H7528 [15SE]

——— clarify application of the qualified mortgage rule to rural lenders (see S. 2697), S5134 [30JY]

——— modify exemptions for small creditors and mortgage loan servicers (see H.R. 4521), H3363 [30AP]

——— provide that residential mortgages held in portfolio qualify as qualified mortgages for purposes of presumption of ability to repay requirements (see S. 2641), S4705 [22JY]

Letters

Clarify application of certain leverage and risk-based requirements and improve definitions of points and fees for mortgage transactions: several trade associations, H7513 [15SE]

Mortgage Choice Act: Hilary O. Shelton, NAACP, E984 [13JN]

——— Kenneth W. Edwards, Center for Responsible Lending (organization), E984 [13JN]

——— several housing and consumer organizations, E984 [13JN]

Remarks in House

Colleges and universities: require private educational lenders to obtain certain certifications from institutions of higher education, H6674 [23JY]

Credit: improve definitions of points and fees in connection with a mortgage transaction, H7510–H7512 [15SE], E1469 [19SE]

——— improve definitions of points and fees in connection with a mortgage transaction (H.R. 3211), H5137, H5138 [9JN], E983 [13JN]

Financial institutions: clarify application of certain leverage and risk-based requirements and improve definitions of points and fees for mortgage transactions (H.R. 5461), H7508–H7515 [15SE], E1423 [16SE], E1469 [19SE]

Remarks in Senate

Colleges and universities: require private educational lenders to obtain certain certifications from institutions of higher education (S. 113), S3596 [11JN]

Education: require certain protections for student loan borrowers (S. 1803), S921–S924 [12FE], S2778, S2780 [7MY], S3165 [20MY]

Financial institutions: provide that residential mortgages held in portfolio qualify as qualified mortgages for purposes of presumption of ability to repay requirements (S. 2641), S4708 [22JY]

Texts of

H.R. 3211, Mortgage Choice Act, H5137 [9JN]

H.R. 5461, clarify application of certain leverage and risk-based requirements and improve definitions of points and fees for mortgage transactions, H7508–H7510 [15SE]