H.R. 4019 would amend the Truth in Lending Act to enhance disclosure of the terms of home mortgage loans.

== Detailed Summary ==

<summary>
(LogMortgage Disclosure Improvement Act of 2007 - Amends the Truth in Lending Act to editrequire a creditor to disclose to a consumer with respect to an extension of credit secured by the wiki and beconsumer's dwelling that the firstconsumer is not required to providecomplete the credit agreement merely because the consumer has received required disclosures or signed a detailed summaryloan application.

Requires such disclosure to be furnished to the borrower not later than seven business days before the consummation of the bill!)transaction, as well as at the time of consummation.

Requires additional disclosures in such a circumstance regarding any variable rates or payment schedules.

Increases the civil monetary penalty for noncompliance with this Act from $200-$2,000 to $5,000, adjusted annually for inflation.
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 10/31/2007:1/11/2008: Referred to House committee.subcommittee. Status: Referred to the House CommitteeSubcommittee on Financial Services.Institutions and Consumer Credit.
</status>

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== Points in Favor ==

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== Points Against ==

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