HR 7223 · 96th Congress · Housing and Community Development

A bill to amend the Home Owners' Loan Act of 1933 to provide that a Federal savings and loan association may not offer a renegotiable rate mortgage to any person unless such association also offers such person a standard mortgage instrument.

Introduced 1980-04-30· Sponsored by Rep. Mottl, Ronald M. [D-OH-23]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking, Finance and Urban Affairs.(1980-04-30)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Home Owners' Loan Act of 1933 to require Federal savings and loan associations to offer a 30 year standard mortgage with an interest rate fixed at the same rate as a renegotiable rate mortgage, if such a renegotiable rate mortgage is offered.…

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

Cosponsors (4)

4 Democrats
Rep. Murphy, Austin J. [D-PA-22]
Rep. Roe, Robert A. [D-NJ-8]
Rep. Vento, Bruce F. [D-MN-4]
Rep. Yatron, Gus [D-PA-6]