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H.R.3915: To amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to establish licensing and registration requirements for residential mortgage originators, to provide certain minimum standards for consumer mortgage loans, and for other purposes.

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January 05, 2008 jag rohan

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January 05, 2008 Dodd Exits Presidential Race; Focus Turns to Lenders

The bill, “The Mortgage Reform and Anti-Predatory Lending Act of 2007, HR 3915,” presents a number of serious problems for the mortgage banking industry. For example, the Committee’s press release notes the House Bill imposes on loan ...

January 04, 2008 A step in the right direction!

Although this idea was first propsed in 2004, The House of Representatives incorporated it into HR 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007. The Nationwide Mortgage Licensing System or NMLS as it is being called, ...

January 04, 2008 Yield Spread Premiums

There is a bill in congress, the House version is HR 3915 that has passed both houses while it has several things positive points, would eliminate spread premiums (YSP). A yield spread premium is a rebate or fee paid to a mortgage ...

January 01, 2008 SUBPRIME PERFORMANCE

But a bill passed by the US House of Representatives, HR 3915, does impose a host of new regulations on lenders, including one rather sensible standard: The loans they make have to be ones borrowers can pay back. ...

January 01, 2008 REO BOOM

The House of Representatives recently passed HR 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007. Commentary on this legislation most often focuses on the restrictions that it would place on lenders seeking to make loans ...

December 29, 2007 Best of the worst: BloodhoundBlog’s most popular posts for 2007

What’s Wrong with zipRealty? by Russell Shaw; HR 3915 Is Dangerous by Brian Brady; HR 3915: Mortgage Reform and Anti-Predatory Lending Act of 2007 by Brian Brady; More on the iPhone… by Greg Swann; Is the Subprime Mortgage Market the ...

December 28, 2007 Speaking in tongues: Dynamically updated lists of links in PHP

Okay then: Go take a look at this article on HR 3915. Brian Brady wrote that post, and it was one of our most popular entries this year. BloodhoundBlog is the home of big stories on the RE.net, and, when we cover a big story, ...

December 26, 2007 New Law Targeted At Mortgage Lending Abuses

The objective of the bill (HR 3915) is to minimize problems stemming from the current mortgage crisis and protect borrowers from lending abuses that can lead to foreclosures. The bill would create a "duty of care standard" for ...

December 26, 2007 Lending reforms are years late, fall short

Miami Herald - The other, HR 3915, would create a national licensing registry for mortgage brokers and set minimum standards for home loans. A bill introduced by Senate Banking Chair Christopher Dodd contains similar p (more...)

December 24, 2007 House bill may worsen climate for subprime borrowers

As if that is not bad enough, The Mortgage Reform and Anti-Predatory lending Act of 2007 (HR 3915), now winding its way through Congress, would worsen their plight. That is not the intention, of course, but the law of unintended ...

December 23, 2007 The Ironies of HR 3915

Now, Congress is coming in reigning haymakers with HR 3915. If this bill gets passed in a form even close to what it is now, it WILL end the area of sub prime. This WILL hurt the poor the most, and ultimately Congress WILL blame someone ...

December 23, 2007 HR 3915: Opening a Closet full of Skeletons

Since Wall Street could redefine crap as investment grade secured debt obligations ’til the cows came home, The spigot of cheap money for unqualified borrowers stayed on WAY too long. … It is really easy to hide a bad deal when there ...

December 23, 2007 HR 3915: Opening a Closet full of Skeletons

Now, unlike what the commenter indicates, Congress has come out with punitive action in HR 3915 against Wall Street. It is not only vague but doesn't address the issue properly. the bill also bars any liability for "pools of loans" or ...

December 20, 2007 Fed Proposes New Restrictions on Subprime, Alt-A Loans

15 approved a bill, HR 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007, which would limit prepayment penalties, set minimum standards for all mortgages that lenders assess a borrower's ability to repay, and expand HOEPA ...

December 18, 2007 Congress Hears Testimony on the Mortgage Reform and Anti-Predatory ...

The House Financial Service Committee, which is currently considering the Mortgage Reform and Anti-Predatory Lending Act of 2007 (HR 3915), recently heard testimony from the American Bankers Association and America’s Community Bankers ...

December 18, 2007 My email from Congressman Dave Reichert on HR 3915

As you know, Representative Brad Miller (D-NC) introduced the Mortgage Refomr and Anti-Predatory Lending Act (HR 3915) on October 22, 2007, to create a nationwide licensing system for mortgage brokers similar to our existing system of ...

December 18, 2007 Congress Hears Testimony on the Mortgage Reform and Anti-Predatory ...

The House Financial Service Committee, which is currently considering the Mortgage Reform and Anti-Predatory Lending Act of 2007 (HR 3915), recently heard testimony from the American Bankers Association and America's Community Bankers ...

December 18, 2007 Rep. Green Fights to Strengthen Consumer Protections and Better ...

Al Green, D-Texas (9th CD), issued the following news release: The House of Representatives, yesterday, passed HR 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007. This bill responds to the subprime mortgage crisis by ...

December 17, 2007 I Guess Mortgage Brokers and Originators are Just Evil

The Senate Banking Committee has not yet scheduled a hearing for HR 3915, the anti-predatory lending bill recently passed by the House (reported in the November 16, 2007 issue of InfoBytes). For the Banking Committee press release, ...

December 14, 2007 HR 3915 Mortgage Reform Legislation

The bill that is going around now is HR 3915, and Senator Christopher Dodd’s mortgage reform legislation. There are several things that have been mentioned in these bills that will greatly hurt many borrowers, and others that are ...

December 14, 2007 Senate mortgage reform bill out

14, 2007 - A Senate counterpart to the House-passed HR 3915 was introduced late Wednesday by Senate Majority Leader Harry Reid, D-Nev., on behalf of Senate Banking Chairman Chris Dodd, D-Conn., and a dozen more panel members. (more…)

December 14, 2007 HR 3915 - so???

Subject: HR 3915 - so??? Posted: Sat Dec 15, 2007 5:44 am (GMT 0) Topic Replies: 0 So what happened? I heard that this passed, and we still can receive ysp..but what does it prevent? Does it still ban stated income loans? ...

December 14, 2007 House bill targeting payments to brokers unenforceable

One of the important objectives of The Mortgage Reform and Anti-Predatory Lending Act of 2007 (HR 3915), which passed the House of Representatives Nov. 15, is to prevent YSP abuse. Will it? The first version of the bill that I looked at ...

December 14, 2007 Dodd Takes A Crack At Fixing The Mortgage Crisis

This Act is very similar to HR 3915, The Mortgage Reform and Anti-Predatory Lending Act of 2007, including the prohibition on yeild spread premiums ("YSPs") for certain loans - unfortunately, that restriction was dropped from HR 3915. ...

December 13, 2007 Mortgage industry facing dramatic changes

And while the House bill, HR 3915, would create a national registration system for all mortgage originators requiring background checks, fingerprinting, education and testing, Dodd’s Senate bill includes no such provision. ...

December 13, 2007 Congress Is Making It Harder to Obtain or Refinance a Mortgage.--

... neighborhoods and to avoid redlining. This effort worked--only too well. Now Congress has discovered "predatory lending." Jack Guttenberg (on Yahoo and in the Washington Post) has been criticizing Congress's efforts (HR 3915 the ...

December 12, 2007 Senator Dodd introduces Anti-predatory Lending Bill

Last month the House of Representatives passed HR 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007 by a vote of 291 to 127. Now Senate Banking Committee Chair, Chris Dodd, has introduced a companion bill on the Senate ...

December 12, 2007 Adjustable county hall mortgage rate

“We are dealing with legislation that ... HR 3915, the “The Mortgage Reform and Anti-Predatory Lending Act of 2007” will establish a national standard to rein in the abusive l... ...

December 11, 2007 My letter from Congressman Jim McDermott

Accordingly, the US House of Representatives recently passed HR 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007. I voted for this legislation, which institutes a number of important steps to stop lending abuse, ...