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- S.488
S.488: Reduce Excessive Interest Payments Act
About This Bill
- This bill was introduced in the 112th Congress
- This bill is primarily about law
- Introduced March 3, 2011
- Latest Major Action March 3, 2011
Bill Sponsor
Bill Cosponsor
Bill Summary
Reduce Excessive Interest Payments Act or REIP Act - Amends the National Housing Act to prohibit each mortgagee (or servicer) from imposing, and the Secretary of Housing and Urban Development (HUD) from requiring imposition of, any interest charge on an insured mortgage as a result of the loss of any time period provided by the mortgagee (or servicer) within which the mortgagor may fully repay the principal balance amount of the mortgage, with...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
| Date | Description |
|---|---|
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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| March 3, 2011 |
Introduced in the Senate by Benjamin L. Cardin (D-Md.) |