| | | | | | |  |
H.R. 1728: | Mortgage Reform and Anti-Predatory Lending Act | 111th Congress 2009-2010 |
To amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to provide certain minimum standards for consumer mortgage loans, and for other purposes. OverviewSponsor: | | Text: | Summary
|
Full Text | Cost: |
$2
per American over the 2009-2014 period.
| Status: |
This bill has been passed in the House.
The bill now goes on to be voted on in the Senate.
Keep in mind that debate may be taking place on a companion bill in the
Senate, rather than on this particular bill.
[Last Updated: Nov 13, 2009 6:11PM] | Last Action: | May 12, 2009:
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Other Titles: | -- Expand and Preserve Home Ownership Through Counseling Act | Related: | See the Related Legislation page for other bills related to this one and a list of subject terms
that have been applied to this bill.
Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned. | Votes: | May 7, 2009:
This bill passed in the House of Representatives by roll call vote.
The totals were 300 Ayes, 114 Nays, 19 Present/Not Voting.
Vote Details.
|
|
Question & Answer 
Can you answer any of these questions posed by other users? Think of it as a civic good deed.
See 21 more questions posed on this topic or submit your own question on the Q&A page.
Sep 21, 2009 2:51 PM - It appears a lot of banks currently review appraisals of commercial and residential properties in-house with a lot of the reviews being non-licensed appraisers. Will this bill require that banks use licensed/certified appraisers to do the reviews? Seems logical to me that the appraisal has to be conducted by a license appraiser the review should also be licensed. -
Read AnswersAnswered by a visitor on Oct 22, 2009 11:04 PM -
This is right out of 1728, thus the Reviewer who is doing an opinion of value which is an Appraisal, must be licensed in the respective state of the subject property. ??(C) QUALIFIED APPRAISER DEFINED.?For 16 purposes of this subsection, the term ?qualified 17 appraiser? means a person who? 18 ??(i) is, at a minimum, certified or li19 censed by the State in which the property to 20 be appraised is located; and 21 ??(ii) performs each appraisal in con22 formity with the Uniform Standards of 23 Professional Appraisal Practice and title XI 24 of the Financial Institutions Reform, Recov25 ery, and Enforcement Act of 1989, Answered by a visitor on Oct 22, 2009 11:11 PM -
This is also out of HR 1728 relative to Appraisals and Appraisal Reviews.... ??(b) APPRAISALS AND APPRAISAL REVIEWS.?All ap6 praisals performed at a property within a State shall be 7 prepared by appraisers licensed or certified in the State 8 where the property is located. All appraisal reviews, includ9 ing appraisal reviews by a lender, appraisal management 10 company, or other third party organization, shall be per11 formed by an appraiser who is duly licensed or certified 12 by a State appraisal board.??. 13 ( Oct 14, 2009 4:17 PM - Without a yield spread premium, what separates Bank A from Bank B? -
Answer it! |
Sources of InfluenceMAPLight.org reports that the following organizations
have taken a stance on this bill: | Support | Oppose |
|---|
National Community Reinvestment Coalition National Association of Realtors Appraisal Institute American Society of Appraisers | Conference of State Bank Supervisors National Consumer Law Center AFL-CIO Communications Workers of America Consumer Action National Association of Consumer Advocates National Fair Housing Alliance Public Citizen U.S. Public Interest Research Groups Woodstock Institute American Bankers Association Financial Services Roundtable Mortgage Bankers Association Independent Community Bankers of America Securities Industry and Financial Markets Association National Apartment Association National Multi Housing Council Americans for Fairness in Lending Association of Community Organizations for Reform Now Consumer Federation of America Consumers Union International Brotherhood of Teamsters National Council of La Raza National Education Association |
Follow the link to MAPLight.org to see if campaign contributions from employees of these organizations are correlated with how Members of Congress voted on this bill. Because the U.S. Congress posts most legislative information online one legislative day after events occur, GovTrack is usually one legislative day behind. For more information about where this data comes from, see
About GovTrack.us. H.R. 1728--111th Congress: Mortgage Reform and Anti-Predatory Lending Act.
(2009).
In GovTrack.us (database of federal legislation).
Retrieved Nov 21, 2009, from
http://www.govtrack.us/congress/bill.xpd?bill=h111-1728
"H.R. 1728--111th Congress: Mortgage Reform and Anti-Predatory Lending Act."
GovTrack.us (database of federal legislation).
2009.
Nov 21, 2009
<http://www.govtrack.us/congress/bill.xpd?bill=h111-1728>
{{cite web
|url=http://www.govtrack.us/congress/bill.xpd?bill=h111-1728
|title=H.R. 1728
|accessdate=Nov 21, 2009
|author=111th Congress (2009)
|date=Mar 26, 2009
|work=Legislation
|publisher=GovTrack.us
|quote=Mortgage Reform and Anti-Predatory Lending Act
}} | | | |
| |
