H.R. 3725 would amend the Real Estate Settlement Procedures Act of 1974 to require the submission to each borrower under a federally related mortgage loan of a one-page description of the essential terms of the loan.

== Detailed Summary ==

<summary>
(Log inMortgage Disclosure Simplification Act of 2007 - Amends the Real Estate Settlement Procedures Act of 1974 to editinstruct the wikiSecretary of Housing and be the firstUrban Development to develop and prescribe standard written forms stating the essential terms of a federally related mortgage loan, which lenders or mortgage brokers shall provide to prospective mortgagors.

Requires such disclosures to include: (1) a detailed summarystatement of the bill!)terms regarding a federally related mortgage loan; and (2) a statement of basic easy-to-understand definitions or explanations of such terms.
</summary>

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== Status of the Legislation ==

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Latest Major Action: 10/2/2007: Referred to House committee. Status: Referred to the House Committee on Financial Services.
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== Points in Favor ==

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== Points Against ==

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