S. 2296 would provide for improved disclosures by all mortgage lenders at the loan approval and settlement stages of all mortgage loans.

== Detailed Summary ==

<summary>
(Log inMortgage Disclosure Enhancement Act of 2007 - Amends the Truth In Lending Act to editrequire additional mortgage loan disclosures by a creditor to a consumer, including: (1) ) the wiki and bepercentage of the firstloan, as compared to provide a detailed summarythe appraised value of the bill!)property; (2) the term of the loan; (3) the monthly income of the borrower, as relied upon in making the loan; (4) the annual percentage rate of interest for loans that are fixed, and for loans that are variable; (5) prepayment fees; and (6) balloon payments.

Amends the Real Estate Settlement Procedures Act of 1974 to conform with this Act.
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 11/1/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
</status>

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== Points in Favor ==

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== Points Against ==

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