S.2114: A bill to amend the Truth in Lending Act, to provide for enhanced disclosures to consumers and enhanced regulation of mortgage brokers, and for other purposes.

A bill to amend the Truth in Lending Act, to provide for enhanced disclosures to consumers and enhanced regulation of mortgage brokers, and for other purposes. 9/27/2007--Introduced. American Home Ownership Preservation Act of 2007 - Amends the Truth in Lending Act to require certain mortgage originators or lenders with primary responsibility for underwriting an assessment on a home mortgage loan to include a borrower's ability to repay certain associated costs. Requires a mortgage broker to clearly disclose its relationship to the borrower. Directs the federal banking agencies to establish a nationwide registry and database system in which all mortgage brokers in the United States must register. Eliminates prepayment penalties for home mortgages. Instructs the Secretary of the Department of Housing and Urban Development (HUD) to make grants to state governments and tribal organizations to assist: (1) programs established for foreclosure mitigation;[...]

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