Top Legislation - View All
Latest Action: 01/04/2007 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Bill TextA bill to provide relief for all air carriers with pension plans that are not frozen pension plans. 1/4/2007--Introduced. Amends the Pension Protection Act of 2006 to require commercial passenger airline pension plan sponsors electing not to utilitze the alternative funding schedule to use an interest rate of 8.25% in determining the funding target for each of the 10 plan years (rather than the segmented interest rates calculated on the basis of the corporate bond yield curve).
Also tagged in: Administrative fees, Budgets, Business, Collection of accounts, Education, Federal aid to education, Federally-guaranteed loans, Finance, Government lending, Higher education, Law, Rebates, Small business, Student loan funds, Subsidies
Latest Action: 01/17/2007 - Mr. McKeon moved to recommit with instructions to Education and Labor. (consideration: CR H628-630; text: CR H628-629) Bill TextTo amend the Higher Education Act of 1965 to reduce interest rates for student borrowers. 1/17/2007--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) College Student Relief Act of 2007 - Amends the Higher Education Act of 1965 to phase-in cuts in the interest rate charged undergraduate student borrowers under the Federal Family Education Loan (FFEL) and Direct Loan (DL) programs, thereby reducing such rate from 6.8% in July 2006 to 3.4% in July 2011. Limits FFEL lender insurance to 95% of the unpaid balance of such loans. (Currently, 97% of a FFEL issued after June 2006 is federally-insured.) Provides for graduated reductions in the percentage of defaulted FFEL loan collections a guaranty agency is allowed to retain until, beginning in October 2010, it is equal to the average rate paid to collection agencies [...] show full description
Latest Action: 01/12/2007 - Sponsor introductory remarks on measure. (CR S515-516) Bill TextA bill to amend the Higher Education Act of 1965 to reduce over a 5-year period the interest rate on certain undergraduate student loans. 1/12/2007--Introduced. College Student Relief Act of 2007 - Amends the Higher Education Act of 1965 to phase-in cuts in the interest rate charged undergraduate student borrowers of subsidized loans under the Federal Family Education Loan (FFEL) program, thereby reducing such rate from 6.8% in July 2006 to 3.4% in July 2011.
Also tagged in: Administrative fees, Appropriations, Authorization, Budgets, Collection of accounts, College costs, Colleges, Cost effectiveness, Cost of living adjustments, Debtor and creditor, Department of Education, Economic policy, Education, Education of the disadvantaged, Executive departments, Federal aid to education, Federally-guaranteed loans, Finance, Government employees, Government lending, Graduate education, Higher education, Income tax, Indexing (Economic policy), Interest, Law, Scholarships, Student loan funds, Tax credits, Tax deductions, Taxation, Welfare
Latest Action: 01/22/2007 - Sponsor introductory remarks on measure. (CR S847-848) Bill TextA bill to amend the Higher Education Act of 1965 to provide additional support to students. 1/22/2007--Introduced. Student Debt Relief Act of 2007 - Amends the Higher Education Act of 1965 to extend the Pell Grant program through FY2012 and increase yearly maximum Pell grant amounts. Authorizes and appropriates specified additional annual funding for such grants. Requires the Secretary of Education to provide institutions of higher education Student Aid Reward Payments for participating in the Federal Family Education Loan (FFEL) or Direct Loan (DL) program most cost-effective for taxpayers. Phases-in cuts to the interest rates charged undergraduate student borrowers under the FFEL and DL programs, thereby reducing such rate from 6.8% in July 2006 to 3.4% in July 2011. Directs the Secretary to forgive the balance due on DLs and direct consolidation loans by individuals who have been public sector employees for 10 years and have made 120 income contingent [...] show full description
Also tagged in: Advertising, Budgets, Business, Collection of accounts, College costs, Colleges, Communications, Congress, Congressional investigations, Congressional reporting requirements, Consumer complaints, Consumer education, Consumers, Debtor and creditor, Deceptive advertising, Directories, Education, Federal aid to education, Federally-guaranteed loans, Fees, Finance, Fines (Penalties), Gifts, Government information, Government lending, Government paperwork, Government publicity, Higher education, Inspectors general, Law, Loan defaults, Marketing, Politics and government, Scholarships, School personnel, Signs and symbols, Student aid, Student loan funds
Latest Action: 02/01/2007 - Sponsor introductory remarks on measure. (CR S1533-1534) Bill TextA bill to establish requirements for lenders and institutions of higher education in order to protect students and other borrowers receiving educational loans. 2/1/2007--Introduced. Student Loan Sunshine Act - Amends the Higher Education Act of 1965 to require each lender entering into an educational loan arrangement with a postsecondary school to: (1) report annually to the Secretary of Education specified information concerning such arrangement; (2) inform borrowers of their loan options under title IV (Student Assistance) before extending private educational loans for attendance at such school; and (3) be barred by such school from marketing such loans in a manner implying the school's endorsement. Directs the Secretary to report to specified congressional committees on the adequacy of educational loan information provided to borrowers, including a model format for lender use in providing annual loan information to the Secretary and covered schools. Requires [...] show full description
Also tagged in: Administrative remedies, Bankruptcy, Collection of accounts, Consumer credit, Consumers, Counseling, Credit bureaus, Debtor and creditor, Earnings, Education, Employment, Fees, Finance, Government information, Government publicity, Governmental investigations, Higher education, Labor, Law, Loan defaults, Social services, Student loan funds
Latest Action: 02/07/2007 - Sponsor introductory remarks on measure. (CR S1711) Bill TextA bill to provide student borrowers with basic rights, including the right to timely information about their loans and the right to make fair and reasonable loan payments, and for other purposes. 2/7/2007--Introduced. Student Borrower Bill of Rights Act of 2007 - Urges the Department of Education to enforce vigorously rules requiring lenders to complete lender verification certificates in a timely manner for borrowers seeking to consolidate loans. Amends the Higher Education Act of 1965 to require specified loan participants under the Federal Family Education Loan (FFEL) and Federal Perkins Loan programs to disclose to each national credit bureau organization any on-time payments made for such loans and their status as student loans. Requires FFEL consolidation loan borrowers or lenders to pay the Department 1% of the balance owed on the sum of such loans to obtain a subsequent FFEL consolidation loan. Allows borrowers to refinance Federal Direct Consolidation [...] show full description
Also tagged in: Administrative procedure, Budgets, Business, Business and politics, Congressional reporting requirements, Disaster loans, Electronic data interchange, Emergency management, Executive departments, Federally-guaranteed loans, Fees, Finance, Internet, Law, Nonprofit organizations, Small business, Small Business Administration, Social services, Technology, Telecommunication
Latest Action: 02/14/2007 - Sponsor introductory remarks on measure. (CR S1976-1977) Bill TextA bill to improve the disaster loan program of the Small Business Administration, and for other purposes. 2/14/2007--Introduced. Private Disaster Loans Act of 2007 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to guarantee timely payment of principal and interest on any loan issued by a qualified private lender to an eligible small business located in a disaster area. Authorizes the Administrator to establish an online application process for such loans. Authorizes the Administrator to guarantee up to 85 percent of such a loan. Sets the maximum amount of such a loan at $2 million.
Also tagged in: Advertising, Budgets, Business, Collection of accounts, College costs, Colleges, Communications, Conflict of interests, Congress, Congressional investigations, Congressional reporting requirements, Consumer complaints, Consumer education, Consumers, Debtor and creditor, Deceptive advertising, Directories, Education, Federal aid to education, Federally-guaranteed loans, Fees, Finance, Fines (Penalties), Gifts, Government information, Government lending, Government paperwork, Government publicity, Higher education, Inspectors general, Law, Loan defaults, Marketing, Politics and government, Scholarships, School personnel, Signs and symbols, Student aid, Student loan funds, Students' rights, Technology, Telecommunication, Web sites
Latest Action: 06/05/2007 - Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness. Bill TextTo establish requirements for lenders and institutions of higher education in order to protect students and other borrowers receiving educational loans. 5/9/2007--Passed House amended. (There is 1 other summary) Student Loan Sunshine Act - (Sec. 2) Amends title I of the Higher Education Act of 1965 to create a new part E (Lender and Institution Requirements Relating to Educational Loans). Requires each lender entering into a preferred lender arrangement with a covered institution (schools that provide postsecondary studies and receive federal funds) to: (1) certify annually to the Secretary of Education that all of the preferred lender arrangements in which it participates are in compliance with the requirements of this Act; (2) inform borrowers of their loan options under title IV (Student Assistance), including information on more favorable loans under such title, before extending private educational loans for attendance at such institution; and (3) [...] show full description
Also tagged in: Aged, Agricultural conservation, Agricultural credit, Agricultural extension work, Agricultural pollution, Agricultural research, Agricultural subsidies, Agricultural wastes, Agriculture, Air pollution, Alternative energy sources, Animals, Armed forces, Authorization, Biological diversity, Biomass energy, Budgets, Business, Carbon cycle, Chesapeake Bay, Children, Community colleges, Competitive bidding, Congress, Congressional reporting requirements, Connecticut, Conservation easements, Dairy industry, Dams, Defense economics, Defense procurement, Diet, Education, Electronic benefits transfers, Elementary and secondary education, Endangered species, Energy, Energy crops, Energy efficiency, Energy facilities, Energy research, Environmental protection, Environmental research, Executive departments, Families, Farm lands, Farm manure, Farm produce, Farms, Federal advisory bodies, Federal aid to education, Federally-guaranteed loans, Finance, Fishery management, Fishes, Food, Food prices, Food stamps, Forest conservation, Forest ecology, Forest health, Forest management, Fruit, Government lending, Government procurement, Grants-in-aid, Grazing, Great Lakes, Groundwater, Habitat conservation, Higher education, Hispanic Americans, Income, Indian education, Integrated pest management, Iowa, Irrigation, Land transfers, Land use, Livestock, Marketing of farm produce, Massachusetts, Methane, Military dependents, Minnesota, Minorities, Minority business enterprises, Minority education, Mississippi River, Montana, Natural resources, New Jersey, New York State, Non-native species, North Dakota, Nutrition, Open space lands, Organic farming, Pennsylvania, Physical fitness, Poverty, Predator control, Private forests, Protection of animals, Public contracts, Range management, Real estate appraisal, Research and development, Restoration ecology, Riparian ecology, Rivers, School lunch program, Science policy, Solid wastes, South Dakota, Sports, Standards, Stream conservation, Technological innovations, Technology, Technology transfer, Telecommunication, Vegetables, Water conservation, Water pollution control, Water quality, Water resources, Watersheds, Welfare, Wetlands, WIC program
Latest Action: 03/20/2007 - Sponsor introductory remarks on measure. (CR S3354-3355) Bill TextA bill to reauthorize Department of Agriculture conservation and energy programs and certain other programs of the Department, to modify the operation and administration of these programs, and for other purposes. 3/20/2007--Introduced. Healthy Farms, Foods, and Fuels Act of 2007 - Extends: (1) the conservation reserve program; (2) the wetlands reserve program; (3) the conservation security program; (4) the grassland reserve program; (5) the environmental quality incentives program; (6) the wildlife habitat incentive program; (7) the agricultural management assistance program; Establishes: (1) the cooperative conservation partnership initiative; (2) the community forestry and open space conservation program; (3) an integrated pest management initiative; (4) a conservation initiative for socially disadvantaged farmers and ranchers; (5) a conservation planning pilot program; and (6) a cooperative conservation educational assistance program. Authorizes a conservation [...] show full description
Also tagged in: Administrative procedure, Budgets, Business, Business and politics, Congressional reporting requirements, Disaster loans, Electronic data interchange, Emergency management, Executive departments, Federally-guaranteed loans, Fees, Finance, Internet, Law, Nonprofit organizations, Small business, Small Business Administration, Social services, Technology, Telecommunication
Latest Action: 02/14/2007 - Referred to the House Committee on Small Business. Bill TextTo improve the disaster loan program of the Small Business Administration, and for other purposes. 2/14/2007--Introduced. Small Business Disaster Response and Loan Improvements Act of 2007 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to: (1) guarantee the payment of principal and interest on private lender loans to small businesses located in a disaster area; and (2) make disaster loans to private nonprofit organizations located or operating in a disaster area. Increases disaster loan caps.
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Latest Legislation - View All
Latest Action: 07/17/2008 - Sponsor introductory remarks on measure. (CR S6941) Bill TextA bill to amend the Truth in Lending Act to establish a national usury rate for consumer credit transactions. 7/17/2008--Introduced. Protecting Consumers from Unreasonable Credit Rates Act of 2008 - Amends the Truth in Lending Act to prohibit a creditor from making an extension of credit to a consumer with respect to which the annual percentage credit rate (APR) exceeds 36%. Includes within such APR all charges payable directly or indirectly incident to, ancillary to, or as a condition of the extension of credit. States that any payment in violation of this Act is null, void, and unenforceable. Prescribes civil and criminal penalties for violations of this Act. Empowers states' Attorneys General to enforce it.
Also tagged in: Administrative procedure, Airline employees, Airlines, Bankruptcy, Business, Civil service retirement, Defined benefit pension plans, Defined contribution plans, Department of the Treasury, Executive departments, Finance, Government employees, Government employees' health insurance, Government information, Government paperwork, Health policy, Income tax, Individual retirement accounts, Labor, Law, Medical care, Partnerships, Pension funds, Pensions, Small business, Standards, Tax deductions, Tax evasion, Tax exclusion, Tax penalties, Tax returns, Taxation, Transportation, Trusts and trustees
Latest Action: 08/01/2008 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Bill TextTo make technical corrections related to the Pension Protection Act of 2006, and for other purposes. 6/26/2008--Introduced. Pension Protection Technical Corrections Act of 2008 - Makes technical corrections to the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to conform to the Pension Protection Act of 2006 regarding various specified items, including: (1) the target normal cost of benefits; (2) specified implementation and effective dates for certain requirements; (3) one-participant retirement plans; (4) special age-related rules in accrued benefit requirements for applicable defined benefit plans; (5) inapplicability in certain cases of the limitation on income deductions (for tax purposes) for employer contributions to one or more defined contribution plans; and (6) adjustments to averaging in the determination of the value of the assets of single-employer defined benefit pension plans for minimum funding purposes. Makes technical [...] show full description
Also tagged in: Administrative procedure, Automated teller machines, Bank accounts, Bank loans, Bank management, Banks and banking, Business, Checks, Churches, Civil liberties, Community development banking, Congress, Congressional reporting requirements, Consumer education, Consumers, Cost accounting, Credit unions, Depressed areas, Economic policy, Electronic funds transfers, Executive departments, Fees, Finance, Government information, Government paperwork, Interest, Investments, Law, Leases, Mortgages, Motor vehicles, National Credit Union Administration, Nonprofit organizations, NOW accounts, Religion, Right of privacy, Savings and loan associations, Securities, Small business, Small business investment companies, Social services, Surveys, Transportation
Latest Action: 06/25/2008 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo advance credit union efforts to promote economic growth, modify credit union regulatory standards and reduce burdens, to provide regulatory relief and improve productivity for insured depository institutions, and for other purposes. 6/19/2008--Introduced. Credit Union, Bank, and Thrift Regulatory Relief Act of 2008 - Amends the Federal Credit Union Act to: (1) permit a credit union to invest in securities for its own account, subject to certain percentage limitations; and (2) increase the investment and lending limit in credit union service organizations from 1% to 3% of a credit union's total paid and unimpaired capital and surplus.Excludes credit union loans to nonprofit religious organizations from limitations placed upon member business loans.Redefines member business loan to increase specified extensions of credit. Authorizes the National Credit Union Administration Board to establish longer loan maturity dates. Directs the Board to prescribe [...] show full description
Latest Action: 03/12/2008 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to protect consumers, and especially young consumers, from skyrocketing credit card debt, unfair credit card practices, and deceptive credit offers. 3/12/2008--Introduced. Credit Card Reform Act of 2008 - Amends the Fair Credit Reporting Act to permit a consumer reporting agency to furnish a consumer report in connection with any credit or insurance transaction that is not initiated by the consumer only if the report indicates that the consumer is age 21 or older. Allows 18-year olds to elect to have their name and address included in any agency list. Amends the Truth in Lending Act to prohibit a credit card issuer from changing the terms of a credit card under an open end consumer credit plan: (1) before the scheduled contract expiration or renewal date; and (2) until the issuer has published all contract changes in any mandatory disclosures. Establishes a cardholder right to repay all existing balances on a terminated or expired credit card account [...] show full description
Also tagged in: Business, Consumer credit, Consumer education, Consumer protection, Consumers, Contracts, Credit cards, Debtor and creditor, Fees, Finance, Financial statements, Government information, Government paperwork, Government publicity, Standards
Latest Action: 07/31/2008 - Subcommittee on Financial Institutions and Consumer Credit Discharged. Bill TextTo amend the Truth in Lending Act to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes. 2/7/2008--Introduced. Credit Cardholders' Bill of Rights Act of 2008 - Amends the Truth in Lending Act to prohibit a creditor from using certain adverse information, including information in a consumer report or any change in a consumer's credit score, as the basis for increasing any annual percentage rate (APR) of interest on the consumer's outstanding balance under an open end consumer credit plan, except for actions or omissions of the consumer directly related to such account. (Thus eliminates the universal default for credit already outstanding.) Bars a creditor from changing any term of the contract or agreement of an open end consumer credit plan until contract renewal, except for specific material reasons already contained in the contract or agreement. Requires advance notice [...] show full description
Latest Action: 02/07/2008 - Referred to the House Committee on Financial Services. Bill TextTo prevent unfair practices in credit card accounts, and for other purposes. 2/7/2008--Introduced. Stop Unfair Practices in Credit Cards Act of 2007 - Amends the Truth in Lending Act regarding open-end consumer credit plans. Prohibits imposition of an interest charge upon debt paid on time and in full. Sets restrictions upon interest rate increases. Limits penalty rate increases to: (1) seven percentage points above the current interest rate; and (2) future credit extensions only. Prohibits interest charges on fees. Specifies restrictions upon over-the-limit fees. Requires the primary federal regulator of a card issuer to conduct annual audits of the credit card operations and procedures used by the issuer. Requires the card issuer to: (1) apply payment first to the card balance bearing the highest rate of interest, and then to each successive balance bearing the next highest rate of interest, until the payment is exhausted; and (2) apply [...] show full description
Also tagged in: Bonds, Budgets, Community development, Community development banking, Depressed areas, Economic development, Economic policy, Employment of the disadvantaged, Federally-guaranteed loans, Finance, Financial services, Home ownership, Housing, Income tax, Infrastructure, Job creation, Labor, Low-income housing, Mortgages, Rural affairs, Rural economic development, Tax exemption, Taxation, Welfare
Latest Action: 12/19/2007 - Sponsor introductory remarks on measure. (CR S16016) Bill TextA bill to authorize guarantees for bonds and notes issued for community or economic development purposes. 12/19/2007--Introduced. Full Faith and Credit in Our Communities Act of 2007 - Amends the Community Banking and Financial Institutions Act of 1994 to require the Secretary of the Treasury to guarantee payments on tax-exempt bonds or notes issued by any approved issuer if their proceeds are used to make loans to eligible community development financial institutions: (1) for eligible community or economic development purposes; or (2) to refinance loans or notes issued for such purposes. Lists among such community or economic development purposes, especially in low-income or underserved rural areas, developing or supporting: (1) commercial facilities that promote revitalization, community stability, or job creation or retention; (2) businesses that provide jobs for low-income people or are owned by low-income people, or enhance the availability of products and services [...] show full description
Also tagged in: Air pollution, Air traffic, Air traffic control, Airline employees, Airline passenger traffic, Airports, Alcohol as fuel, Appropriations, Aviation fuels, Biomass energy, Bonds, Bridges, Budgets, Business, Collection of accounts, Corporation taxes, Diesel motor, Energy, Environmental protection, Excise tax, Executive departments, Expatriation, Federal advisory bodies, Federal aid to transportation, Finance, Fines (Penalties), Foreign corporations, Free ports and zones, Gasoline, Gift tax, Government information, Government paperwork, Government trust funds, Great Lakes, Harbors, Highway finance, Immigration, Income tax, Individual retirement accounts, Infrastructure, Interest, Labor, Law, Liability for environmental damages, Marine terminals, Minnesota, Motor vehicle pollution control, New York City, New York State, Oil pollution, Pension funds, Pensions, Private aviation, Punitive damages, Railroad engineering, Railroad finance, Road construction, St. Lawrence Seaway, Tax administration, Tax credits, Tax deductions, Tax evasion, Tax exemption, Tax penalties, Tax rates, Tax returns, Tax-deferred compensation plans, Taxation, Taxation of foreign income, Taxpayers, Tourism, Trade, Transportation, Valuation, Water pollution, Withholding tax
Latest Action: 11/13/2007 - Committee on Finance. Original measure reported to Senate by Senator Baucus. With written report No. 110-228. Additional views filed. Bill TextAn original bill to amend the Internal Revenue Code of 1986 and to extend the financing for the Airport and Airway Trust Fund, and for other purposes. 11/13/2007--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)American Infrastructure Investment and Improvement Act of 2007 - Title I: Airport And Airway Trust Fund Provisions And Related Taxes - (Sec. 101) Amends the Internal Revenue Code to extend through FY2011 the excise taxes on aviation fuels and the transportation of persons and property by air.(Sec. 102) Extends through FY2011 the expenditure authority for the Airport and Airway Trust Fund.(Sec. 103) Imposes an excise tax on aviation-grade kerosene of 35.9 cents per gallon (4.3 cents per gallon for fuel used in commercial aviation). (Sec. 104) Increases to $16.[...] show full description
Also tagged in: Auctions, Budgets, Congress, Congressional investigations, Education, Federally-guaranteed loans, Finance, Governmental investigations, Higher education, Public contracts, Student loan funds
Latest Action: 10/31/2007 - Sponsor introductory remarks on measure. (CR E2292) Bill TextTo study, pilot, and implement a comprehensive, structural, market-based reform to the Federal Family Education Loan Program to reduce costs to taxpayers and improve program efficiency. 10/31/2007--Introduced. Student Loan Auction Market Act - Directs the Secretary of Education (Secretary) and the Secretary of the Treasury to conduct a planning study of alternative market-based mechanisms for setting lenders' yields on Federal Family Education Loans under part B of title IV of the Higher Education Act of 1965. Requires such study to be followed by a limited two-year pilot program testing the mechanisms which the study finds most promising in ensuring loan availability, minimizing administrative complexity, and reducing federal costs. Allows the Secretary to implement on a program-wide basis the auction-based system proven to satisfy such criteria, after an independent evaluation by the Government Accountability Office (GAO) of the pilot program, as well as the Competitive [...] show full description
Also tagged in: Administrative fees, Administrative procedure, Aged, Bank employees, Budgets, Business, Class actions (Civil procedure), Communications, Consumer credit, Consumer education, Consumers, Counseling, Criminal justice, Criminal justice information, Department of Housing and Urban Development, Executive departments, Executive reorganization, Federal advisory bodies, Fees, Finance, Fines (Penalties), Fingerprints, Foreclosure, Fraud, Government information, Government publicity, Governmental investigations, Home ownership, Housing, Housing for the aged, Identification devices, Identification of criminals, Interest, Language and languages, Law, Leases, Liability (Law), Licenses, Limitation of actions, Loan defaults, Low-income housing, Mortgage banks, Mortgage guaranty insurance, Mortgages, Prosecution, Public service advertising, Real estate business, Social services, Standards, Variable rate mortgage loans
Latest Action: 12/03/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to establish licensing and registration requirements for residential mortgage originators, to provide certain minimum standards for consumer mortgage loans, and for other purposes. 11/15/2007--Passed House amended. (There are 2 other summaries) Mortgage Reform and Anti-Predatory Lending Act of 2007 - Title I: Residential Mortgage Loan Origination - Subtitle A: Licensing System for Residential Mortgage Loan Originators - Encourages the states, through the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, to establish a Nationwide Mortgage Licensing System and Registry (NMLSR) for the residential mortgage industry. (Sec. 103) Includes among licensing and registration requirements that a loan origination business obtain: (1) a unique identifier; and (2) instruction on [...] show full description
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