H.R.3894: To amend the Truth in Lending Act to establish requirements for providing negatively amortizing mortgage loans to first-time borrowers, and for other purposes.

Negative Amortization Mortgage Loan Transparency Act - Amends the Truth in Lending Act to require a lender to make specified prior disclosures to a first-time borrower in connection with a consumer credit transaction secured by residential real property with a dwelling, other than a reverse mortgage, where the payment plan may result in negative amortization over the term of the loan.

Requires the consumer debtor to provide the creditor with documentation that the consumer received home ownership counseling from organizations or counselors certified by the Secretary of Housing and Urban Development.