The Prohibit Predatory Financing Act (H. Mel Watt (NC) with Agent. Brad Miller (NC) and Associate. Barney Frank (MA) Cosponsored from the 65 people in Congress in addition to CBC people Associate. Sanford Bishop (GA), Associate. Corrine Brown (FL), Rep. G.K. Butterfield (NC), Associate. Julia Carson (IN), Del. Donna Christensen (VI), Associate. Wm. Lacy Clay (MO), Representative. James Clyburn (SC), Representative. John Conyers (MI), Rep. Elijah Cummings (MD), Rep. Artur Davis (AL), Representative. Chaka Fattah (PA), Representative. Harold Ford Jr. (TN), Representative. Al Eco-friendly (TX), Representative. Jesse Jackson Jr. (IL), Representative. Sheila Jackson-Lee (TX), Associate. William Jefferson (LA), Representative. Eddie Bernice Johnson (TX), Associate. Stephanie Tubbs Jones (OH), Associate. Carolyn Kilpatrick (MI), Agent. Barbara Lee (CA), Representative. John Lewis (GA), Associate. Cynthia McKinney (GA), Agent. Kendrick Meek (FL), Rep. Gregory Meeks (NY), Representative. Gwen Moore (WI), Del. Eleanor Holmes Norton (CD), Representative. Significant Owens (NY), Rep. Donald Payne (NJ), Agent. Charles Rangel (NY), Associate. Bobby Hurry (IL), Rep. David Scott (GA), Rep. Bobby Scott (VA), Agent. Bennie Thompson (MS), Associate. Edolphus Urban centers (NY), Rep. Maxine Waters (CA), Rep. Diane Watson (CA), Rep. Mel Watt (NC), and you can Agent. Al Wynn (MD)

An expenses to exclude people, regarding the a good subprime federally associated home loan, out-of taking home loan financing services otherwise financial brokerage services unless such as body’s certified by the Assistant of Casing and you can Metropolitan Innovation and also become effectively trained with regard to subprime lending

A costs so you can impose limits and you will constraints with the large-pricing mortgage loans, in order to enhance the new permissible fees and you may charge toward certain kinds of finance, to help you exclude unfair otherwise deceptive credit means, and to permit personal knowledge and guidance in the predatory lenders. Known as this new Miller-Watt-Frank expenses.

Help owning a home and you can in control lending (H.Swindle.Res. 127) 110th Congress Put by the Rep. Elijah Cummings (MD) Cosponsored of the Representative. Keith Ellison (MN)

A beneficial concurrent quality stating the feeling regarding Congress you to definitely legislation would be to getting enacted one to handles customers who have been sufferers regarding unscrupulous lenders and you may loan providers.

Supporting the aim of increased and you may alternative homeownership from the Joined Says (H.Swindle.Res. 392) 110th Congress Produced by Representative. Alcee Hastings (FL) Cosponsored because of the 8 almost every other people in Congress plus CBC members Associate. Sanford Bishop (CA), Agent. Artur Davis (AL), Rep. Al Green (TX), Agent. Carolyn Kilpatrick (MI), Rep. Kendrick Meek (FL), Rep. Stephanie Tubbs Jones (OH), and you will Rep. Barbara Lee (CA)

An effective concurrent solution giving support to the goal of enhanced and alternative homeownership in the united decisive hyperlink states and you will accepting the significance of homeownership applications, fair financing guidelines, and you will fair property legislation from inside the reaching one to purpose.

Fudge detail by detail a tight certification system to own home loans and you may agencies who thing subprime financing plus a sleek procedure to own processing grievances up against unethical brokers and you may agents

Acknowledging the latest disparities that will be associated with the predatory credit when you look at the fraction communities (H.Con.Res. 391) 110th Congress Brought by the Yvette Clarke (NY) Cosponsored by Representative. Edolphus Towns (NY)

An excellent concurrent quality recognizing the latest disparities that will be regarding the predatory lending abuses when you look at the fraction teams and expressing the sense of the Congress one once the the fresh abuses consistently appear, such as for example laws and regulations would be to make certain all of these responsible for representing and you may protecting family members have the power to do something to deal with these the fresh troubles.

Home loan Reform and Anti-Predatory Lending Work (H.Roentgen. 1728) 111th Congress Lead of the Rep. Mel Watt (NC) with Agent. Brad Miller (NC) and Rep. Barney Honest (MA) Cosponsored from the five other people in Congress

An expenses in order to change user mortgage means and gives liability to own such as methods and to give specific minimum requirements getting individual mortgage loans.

Agencies Maxine Waters (CA-43) and you will pioned the situation out of reasonable lending of the releasing laws to help you give responsible credit practices. From inside the 2001, Representative. Oceans, a chief for the financial situations from inside the Congress and you will blunt critic off predatory credit strategies, introduced this new Securing Our Teams away from Predatory Lending Work. The bill is aimed at securing individuals out of shedding land so you can predatory lending from the, on top of other things, prohibiting mortgage lenders away from while making not the case, deceptive, otherwise mistaken comments or steering customers into the greater risk money than they will if not qualify for. In her own 2009 Predatory Home loan Financing Strategies Protection Work, CBC sofa Representative.

A bill so you’re able to approve the new Secretary off Property and you can Urban Creativity and make gives to help you States, gadgets of local government, and you can nonprofit organizations to have guidance and you will training software towards reduction of predatory lending and to expose a cost-free number getting grievances regarding predatory credit.