HR 3538 · 115th Congress · Finance and Financial Sector

Mortgage Sale Transparency Act of 2017

Introduced 2017-07-28· Sponsored by Rep. Rush, Bobby L. [D-IL-1]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Financial Services.(2017-07-28)

Plain Language Summary

[AI summary unavailable — showing source text] Mortgage Sale Transparency Act of 2017 This bill amends the Truth in Lending Act to require in the event of a mortgage loan sale, transfer, or assignment to another creditor: (1) notice of the transfer to the borrower from the original creditor, (2) exemption from liability for the borrower in the event of an error in the transfer, and (3) a 90-day grace period for loan payments made by the borrower to the wrong lender.…

Summarized by Claude AI · Non-partisan · For informational purposes only