summary
Introduced
02/05/2019
02/05/2019
In Committee
02/05/2019
02/05/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Home Mortgage Disclosure Act of 1975 to modify the exemptions from certain disclosure requirements. This bill expands requirements for public disclosures by depository institutions and credit unions regarding mortgages and home equity lines of credit. Specifically, institutions originating fewer than 500 mortgage loans or open-end lines of credit annually are no longer exempt from certain financial reporting.
AI Summary
This bill, the Home Loan Quality Transparency Act of 2019, amends the Home Mortgage Disclosure Act of 1975 to modify the exemptions from certain disclosure requirements. Specifically, it eliminates the exemption that previously allowed depository institutions (banks and credit unions) that originated fewer than 500 mortgage loans or open-end lines of credit annually to be exempt from certain financial reporting requirements. As a result, more institutions will now be required to publicly disclose information about their mortgage and home equity lending activities.
Committee Categories
Business and Industry
Sponsors (9)
Nydia Velázquez (D)*,
Joyce Beatty (D),
Al Green (D),
Sheila Jackson-Lee (D),
Carolyn Maloney (D),
Ilhan Omar (D),
Katie Porter (D),
Bobby Rush (D),
Jan Schakowsky (D),
Last Action
Referred to the House Committee on Financial Services. (on 02/05/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/963/all-info |
| BillText | https://www.congress.gov/116/bills/hr963/BILLS-116hr963ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr963/BILLS-116hr963ih.pdf.pdf |
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