(H.R. 1729) On passage of legislation was designed to help ensure that lenders only make loans that borrowers will be able to repay
house Roll Call 242
May 07, 2009
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This was a vote on House passage of H.R, 1728, the Mortgage Reform and Anti-Predatory Lending Act. That legislation was designed to help ensure that lenders only make loans that borrowers will be able to repay. The House Financial Services Committee, which developed the bill, said the legislation would “curb lending that had been a major factor in the highest home foreclosure rate in the nation in 25 years . . . It would establish a simple standard for all home loans: institutions must ensure that borrowers can repay the loans they are sold.” The bill was being opposed by the Mortgage Bankers Association. |
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