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- S.2452
S.2452: Home Ownership Preservation and Protection Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced Dec. 12, 2007
- Latest Major Action Dec. 12, 2007
Bill Sponsor
Bill Cosponsors
19 (All Democrats)
Bill Summary
Home Ownership Preservation and Protection Act of 2007 - Amends the Truth in Lending Act to redefine high-cost mortgages and attendant lending practices. Sets forth a new formula for points and fees for open-end loans, and provides for bona fide discount points. Prohibits: (1) prepayment penalties; (2) balloon payments; (3) yield spread premiums; (4) acceleration or debt; (5) evasions, structuring of transactions, and reciprocal arrangements;...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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| Dec. 12, 2007 |
Introduced in the Senate by Christopher J. Dodd (D-Conn.) |