H.R. 2108 would protect home buyers from predatory lending practices.
Detailed Summary
Predatory Mortgage Lending Practices Reduction Act - Amends the Real Estate Settlement Procedures Act of 1974 to prohibit any person, in connection with a subprime federally related mortgage loan, from providing mortgage lending services or mortgage brokerage services unless such person is certified by the Secretary of Housing and Urban Development as having been adequately trained with regard to subprime lending.
Status of the Legislation
Latest Major Action: 4/27/2009: Referred to House committee. Status: Referred to the House Committee on Financial Services.
Points in Favor
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Points Against
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