In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

Ex Input:
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Keeping Families 
Together Act of 2005''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Restoration of definition of aggravated felony (repeal of 
                            section 321 of IIRIRA).
Sec. 3. Restoration of detention policy.
Sec. 4. Repeal of time stop provisions.
Sec. 5. Repeal of section 101(a)(48).
Sec. 6. Restoration of section 212(c).
Sec. 7. Restoration of judicial review provisions.
Sec. 8. Post-proceeding relief for affected aliens.

SEC. 2. RESTORATION OF DEFINITION OF AGGRAVATED FELONY (REPEAL OF 
              SECTION 321 OF IIRIRA).

    (a) In General.--Effective as if included in the enactment of the 
Illegal Immigration Reform and Immigrant Responsibility Act of 1996 
(division C of Public Law 104-208), section 321 of such Act is repealed 
and the provisions of law amended by such section are restored as if 
such section had not been enacted.
    (b) Restoration of Rights.--Any alien whose legal permanent 
resident status, application for permanent residence, or application 
for cancellation of removal, was affected by the changes in the 
definition of ``aggravated felony'' made by such section 321 may apply 
to the Secretary of Homeland Security to be considered for adjustment 
of status or cancellation of removal in conformance with the provisions 
of section 101(a)(43) of the Immigration and Nationality Act, as 
restored by subsection (a).

SEC. 3. RESTORATION OF DETENTION POLICY.

    (a) In General.--Section 236(c) of the Immigration and Nationality 
Act (8 U.S.C. 1226(c)) is amended to read as follows:
    ``(c) Detention of Criminal Aliens.--
            ``(1) In general.--The Secretary of Homeland Security shall 
        take into custody any alien convicted of an aggravated felony 
        upon release of the alien (regardless of whether or not such 
        release is on parole, supervised release, or probation, and 
        regardless of the possibility of rearrest or further 
        confinement in respect of the same offense). Notwithstanding 
        subsection (a) or section 241(a) but subject to paragraph (2), 
        the Secretary of Homeland Security shall not release such felon 
        from custody.
            ``(2) Non-release.--The Secretary of Homeland Security may 
        not release from custody any who has been convicted of an 
        aggravated felony, either before or after a determination of 
        removability, unless--
                    ``(A)(i) the alien was lawfully admitted, or
                    ``(ii) the alien was not lawfully admitted but the 
                alien cannot be removed because the designated country 
                of removal will not accept the alien; and
                    ``(B) the alien satisfies the Secretary of Homeland 
                Security that the alien will not pose a danger to the 
                safety of other persons or of property and is likely to 
                appear for any scheduled proceeding.''.
    (b) Effective Date.--The amendment made by subsection (a) shall be 
effective as if included in the Illegal Immigration Reform and 
Immigrant Responsibility Act of 1996.

SEC. 4. REPEAL OF TIME STOP PROVISIONS.

    (a) In General.--Section 240A(d) of the Immigration and Nationality 
Act (8 U.S.C. 1229b(d)) is repealed.
    (b) Effective Date.--The repeal made by subsection (a) shall be 
effective as if included in the enactment of subtitle A of title III of 
the Illegal Immigration Reform and Immigrant Responsibility Act of 
1996.

SEC. 5. REPEAL OF SECTION 101(A)(48).

    (a) In General.--Paragraph (48) of section 101(a)(48) of the 
Immigration and Nationality Act (8 U.S.C. 1101(a)) is repealed.
    (b) Effective Date.--The repeal made by subsection (a) shall take 
effect as if included in the enactment of section 322(a) of the Illegal 
Immigration Reform and Immigrant Responsibility Act of 1996.

SEC. 6. RESTORATION OF SECTION 212(C).

    (a) In General.--Section 212 of the Immigration and Nationality Act 
(8 U.S.C. 1182) is amended by inserting after subsection (b) the 
following new subsection:
    ``(c) Aliens lawfully admitted for permanent residence who 
temporarily proceeded abroad voluntarily and not under an order of 
deportation or removal, and who are returning to a lawful 
unrelinquished domicile of seven consecutive years, may be admitted in 
the discretion of the Secretary of Homeland Security without regard to 
the provisions of subsection (a) (other than paragraphs (3) and 
(10)(C)). Nothing contained in this subsection shall limit the 
authority of the Secretary of Homeland Security to exercise the 
discretion vested in him under section 211(b). The first sentence of 
this subsection shall not apply to an alien who has been convicted of 
one or more aggravated felonies and has served for such felony or 
felonies a term of imprisonment of at least 5 years.''.
    (b) Effective Date.--The amendment made by subsection (a) applies 
as of April 24, 1996, as if section 440(d) of the Antiterrorism and 
Effective Death Penalty Act of 1996 (Public Law 104-132) and section 
304(b) of Illegal Immigration Reform and Immigrant Responsibility Act 
of 1996 (division C of Public Law 104-208) had not been enacted.

SEC. 7. RESTORATION OF JUDICIAL REVIEW PROVISIONS.

    (a) In General.--Section 242 of the Immigration and Nationality Act 
(8 U.S.C. 1252) is amended to read as follows:

                 ``judicial review of orders of removal

    ``Sec. 242.  (a) The procedure prescribed by, and all the 
provisions of chapter 158 of title 28, United States Code, shall apply 
to, and shall be the sole and exclusive procedure for, the judicial 
review of all final orders of removal heretofore or hereafter made 
against aliens within the United States pursuant to administrative 
proceedings under section 240 of this Act or comparable provisions of 
any prior Act, except that--
            ``(1) a petition for review may be filed not later than 90 
        days after the date of the issuance of the final removal order, 
        or, in the case of an alien convicted of an aggravated felony 
        not later than 30 days after the issuance of such order;
            ``(2) the venue of any petition for review under this 
        section shall be in the judicial circuit in which the 
        administrative proceedings before an immigration judge were 
        conducted in whole or in part, or in the judicial circuit 
        wherein is the residence, as defined in this Act, of the 
        petitioner, but not in more than one circuit;
            ``(3) the action shall be brought against the Department of 
        Homeland Security, as respondent. Service of the petition to 
        review shall be made upon the Secretary of Homeland Security of 
        the United States and upon the official of the Department of 
        Homeland Security in charge of the district in which the office 
        of the clerk of the court is located. The service of the 
        petition for review upon such official of the Service shall 
        stay the removal of the alien pending determination of the 
        petition by the court, unless the court otherwise directs or 
        unless the alien is convicted of an aggravated felony, in which 
        case the Service shall not stay the removal of the alien 
        pending determination of the petition of the court unless the 
        court otherwise directs;
            ``(4) except as provided in clause (B) of paragraph (5) of 
        this subsection, the petition shall be determined solely upon 
        the administrative record upon which the removal order is based 
        and the Secretary of Homeland Security's findings of fact, if 
        supported by reasonable, substantial, and probative evidence on 
        the record considered as a whole, shall be conclusive;
            ``(5) whenever any petitioner, who seeks review of an order 
        under this section, claims to be a national of the United 
        States and makes a showing that his claim is not frivolous, the 
        court shall (A) pass upon the issues presented when it appears 
        from the pleadings and affidavits filed by the parties that no 
        genuine issue of material fact is presented; or (B) where a 
        genuine issue of material fact as to the petitioner's 
        nationality is presented, transfer the proceedings to a United 
        States district court for the district where the petitioner has 
        his residence for hearing de novo of the nationality claim and 
        determination as if such proceedings were originally initiated 
        in the district court under the provisions of section 2201 of 
        title 28, United States Code. Any such petitioner shall not be 
        entitled to have such issue determined under section 360(a) of 
        this Act or otherwise;
            ``(6) whenever a petitioner seeks review of an order under 
        this section, any review sought with respect to a motion to 
        reopen or reconsider such an order shall be consolidated with 
        the review of the order;
            ``(7) if the validity of a removal order has not been 
        judicially determined, its validity may be challenged in a 
        criminal proceeding against the alien for violation of 
        subsection (a) or (b) of section 243 of this Act only by 
        separate motion for judicial review before trial. Such motion 
        shall be determined by the court without a jury and before the 
        trial of the general issue. Whenever a claim to United States 
        nationality is made in such motion, and in the opinion of the 
        court, a genuine issue of material fact as to the alien's 
        nationality is presented, the court shall accord him a hearing 
        de novo on the nationality claim and determine that issue as if 
        proceedings had been initiated under the provisions of section 
        2201 of title 28, United States Code. Any such alien shall not 
        be entitled to have such issue determined under section 360(a) 
        of this Act or otherwise. If no such hearing de novo as to 
        nationality is conducted, the determination shall be made 
        solely upon the administrative record upon which the removal 
        order is based and the Secretary of Homeland Security's 
        findings of fact, if supported by reasonable, substantial, and 
        probative evidence on the record considered as a whole, shall 
        be conclusive. If the removal order is held invalid, the court 
        shall dismiss the indictment and the United States shall have 
        the right to appeal to the court of appeals within 30 days. The 
        procedure on such appeals shall be as provided in the Federal 
        rules of criminal procedure. No petition for review under this 
        section may be filed by any alien during the pendency of a 
        criminal proceeding against such alien for violation of 
        subsection (a) or (b) of section 243 of this Act;
            ``(8) nothing in this section shall be construed to require 
        the Secretary of Homeland Security to defer removal of an alien 
        after the issuance of a removal order because of the right of 
        judicial review of the order granted by this section, or to 
        relieve any alien from compliance with subsections (a) and (b) 
        of section 243 of this Act. Nothing contained in this section 
        shall be construed to preclude the Secretary of Homeland 
        Security from detaining or continuing to detain an alien or 
        from taking the alien into custody pursuant to section 241 of 
        this Act at any time after the issuance of a removal order;
            ``(9) it shall not be necessary to print the record or any 
        part thereof, or the briefs, and the court shall review the 
        proceedings on a typewritten record and on typewritten briefs; 
        and
            ``(10) any alien held in custody pursuant to an order of 
        removal may obtain judicial review thereof by habeas corpus 
        proceedings.
    ``(b) Notwithstanding the provisions of any other law, any alien 
against whom a final order of removal has been made heretofore or 
hereafter under the provisions of section 235 of this Act or comparable 
provisions of any prior Act may obtain judicial review of such order by 
habeas corpus proceedings and not otherwise.
    ``(c) An order of removal shall not be reviewed by any court if the 
alien has not exhausted the administrative remedies available to the 
alien as of right under the immigration laws and regulations or if the 
alien has departed from the United States after the issuance of the 
order. Every petition for review or for habeas corpus shall state 
whether the validity of the order has been upheld in any prior judicial 
proceeding, and, if so, the nature and date thereof, and the court in 
which such proceeding took place. No petition for review or for habeas 
corpus shall be entertained if the validity of the order has been 
previously determined in any civil or criminal proceeding, unless the 
petition presents grounds which the court finds could not have been 
presented in such prior proceeding, or the court finds that the remedy 
provided by such prior proceeding was inadequate or ineffective to test 
the validity of the order.
    ``(d)(1) A petition for review or for habeas corpus on behalf of an 
alien against whom a final order of removal has been issued pursuant to 
section 238(b) may challenge only--
            ``(A) whether the alien is in fact the alien described in 
        the order;
            ``(B) whether the alien is in fact an alien described in 
        section 238(b)(2);
            ``(C) whether the alien has been convicted of an aggravated 
        felony and such conviction has become final; and
            ``(D) whether the alien was afforded the procedures 
        required by section 238(b)(4).
    ``(2) No court shall have jurisdiction to review any issue other 
than an issue described in paragraph (1).''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect on the date of the enactment of this Act and shall apply to 
determinations pending on or after such date with respect to which--
            (1) a final administrative decision has been/not been 
        rendered as of such date; or
            (2) such a decision has been rendered but the period for 
        seeking judicial review of the decision has not expired.

SEC. 8. POST-PROCEEDING RELIEF FOR AFFECTED ALIENS.

    (a) In General.--Notwithstanding section 240(c)(6) of the 
Immigration and Nationality Act (8 U.S.C. 1229a(c)(6)) or any other 
limitation imposed by law on motions to reopen removal proceedings, the 
Secretary of Homeland Security shall establish a process (whether 
through permitting the reopening of a removal proceeding or otherwise) 
under which an alien--
            (1) who is (or was) in removal proceedings before the date 
        of the enactment of this Act (whether or not the alien has been 
        removed as of such date); and
            (2) whose eligibility for cancellation of removal has been 
        established by this Act;
may apply (or reapply) for cancellation of removal under section 
240A(a) of the Immigration and Nationality Act (8 U.S.C. 1229b(a)) as a 
beneficiary of the relief provided under this Act.
    (b) Parole.--The Secretary of Homeland Security should exercise the 
parole authority under section 212(d)(5)(A) of the Immigration and 
Nationality Act (8 U.S.C. 1182(d)(5)(A)) for the purpose of permitting 
aliens removed from the United States to participate in the process 
established under subsection (a).

Ex Output:
Keeping Families Together Act of 2005 - Amends the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (Act) to repeal the provision amending the definition of "aggravated felony," and restore provisions of law amended by such provision as if it had not been enacted, including residency-or status-related rights of an affected legal alien.

Amends the Immigration and Nationality Act to revise detention of criminal alien provisions, effective as if included in the Act.

Repeals, as if included in the Act: (1) certain provisions respecting termination of continuous presence or physical presence in the United States; and (2) the definition of "conviction."

Authorizes the Secretary of Homeland Security to admit certain lawfully admitted permanent resident aliens returning to the United States who temporarily proceeded abroad voluntarily and not under an order of deportation or removal, effective as of a specified date, as if certain sections of the Antiterrorism and Effective Death Penalty Act of 1996 and the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 had not been enacted.

Revises provisions respecting judicial review of removal orders.

Requires the Secretary to establish a post-proceeding removal relief process for affected aliens.


Ex Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fairness for Homeowners Act of 
2007''.

SEC. 2. ORIGINATIONS OF CONSUMER CREDIT TRANSACTIONS SECURED BY THE 
              CONSUMER'S PRINCIPAL DWELLING.

    (a) In General.--The Truth in Lending Act (15 U.S.C. 1601 et seq.) 
is amended by inserting after section 129 the following new section:
``Sec. 129A. Originations of consumer credit transactions secured by 
              the consumer's principal dwelling
    ``(a) Definitions.--For purposes of this section, the following 
definitions shall apply:
            ``(1) Fully indexed rate.--The term `fully indexed rate' 
        equals the index rate prevailing at the time a consumer credit 
        transaction secured by a consumer's principal dwelling is 
        originated, plus the margin that will apply after the 
        expiration of an introductory interest rate.
            ``(2) Mortgage broker.--The term `mortgage broker' means 
        any person who is defined as a mortgage broker under applicable 
        State law.
    ``(b) Requirements for Originators.--
            ``(1) Ability to pay.--
                    ``(A) In general.--No creditor or mortgage broker 
                may make, provide, or arrange for any consumer credit 
                transaction secured by a consumer's principal dwelling 
                without verifying the consumer's reasonable ability to 
                pay the scheduled payments of the following, as 
                applicable: principal; interest; real estate taxes; 
                homeowner's insurance, assessments, and mortgage 
                insurance premiums.
                    ``(B) Variable interest rate.--In the case of any 
                consumer credit transaction secured by a consumer's 
                principal dwelling for which the applicable annual 
                percentage rate may vary over the life of the credit, 
                the reasonable ability to pay shall be determined, for 
                purposes of this paragraph, on the basis of a fully 
                indexed rate plus 200 basis points and a repayment 
                schedule which achieves full amortization over the life 
                of the extension of credit.
                    ``(C) Verification of consumer income and financial 
                resources.--In the case of any consumer credit 
                transaction secured by a consumer's principal dwelling, 
                the income and financial resources of the consumer 
                shall be verified for purposes of this paragraph by tax 
                returns, payroll receipts, bank records, or other 
                similarly reliable documents.
                    ``(D) Other criteria.--No provision of this 
                paragraph shall be construed as prohibiting reliance on 
                criteria other than a consumer's income and financial 
                resources to establish the reasonable ability of the 
                consumer to repay any consumer credit transaction 
                secured by the consumer's principal dwelling, to the 
                extent such other criteria are also verified through 
                reasonably reliable methods and documentation.
                    ``(E) Consumer statement is insufficient proof.--A 
                statement by a consumer of the consumer's income or 
                financial resources shall not be sufficient to 
                establish the existence of any income or financial 
                resources when verifying the reasonable ability of the 
                consumer to repay any consumer credit transaction 
                secured by the consumer's principal dwelling, for 
                purposes of this paragraph.
            ``(2) Prohibition on steering.--No creditor or mortgage 
        broker may make, provide, or arrange for any consumer credit 
        transaction secured by a consumer's principal dwelling that is 
        of a lower investment grade if--
                    ``(A) the consumer's credit score; or
                    ``(B) comparable underwriting data, in any case in 
                which the creditor or mortgage broker does not utilize 
                credit scoring or a credit score for the consumer is 
                unavailable,
        indicates that the borrower may qualify for a consumer credit 
        transaction, available from or through the creditor or mortgage 
        broker, that is of a higher investment grade.
            ``(3) Prohibition on prepayment penalties for arms.--
                    ``(A) In general.--In the case of any consumer 
                credit transaction secured by a consumer's principal 
                dwelling that provides for variable rates of interest 
                on the credit extended under the transaction, the 
                transaction may not contain terms under which a 
                consumer must pay a prepayment penalty for paying all 
                or part of the principal before the date on which the 
                principal is due.
                    ``(B) Exclusion for jumbo mortgages.--Subparagraph 
                (A) shall not apply to any consumer credit transaction 
                secured by a consumer's principal dwelling the 
                principal amount (as defined in subsection (c)(2)) of 
                which exceeds the maximum dollar amount limitation (for 
                a residence of the applicable size) on the amount of 
                the principal obligation of a mortgage for a 1- to 4-
                family residence that may be purchased by the Federal 
                Home Loan Mortgage Corporation, as then in effect 
                pursuant to section 305(a)(2) of the Federal Home Loan 
                Mortgage Corporation Act.
    ``(c) Limitation on Financed Points, Charges, and Fees.--
            ``(1) In general.--No creditor or mortgage broker may, in 
        connection with any consumer credit transaction secured by the 
        consumer's principal dwelling, include in the principal amount 
        of such transaction any portion of any qualified finance charge 
        in excess of the amount which is equal to 5 percent of the 
        principal amount of the transaction.
            ``(2) Definitions.--For purposes of this subsection, the 
        following definitions shall apply:
                    ``(A) Qualified finance charge.--The term 
                `qualified finance charge' means the sum of--
                            ``(i) the finance charge as determined 
                        under section 106, minus any interest and time 
                        price differential; and
                            ``(ii) all compensation paid to a mortgage 
                        broker from any source in connection with this 
                        transaction.
                    ``(B) Principal amount.--The term `principal 
                amount' means--
                            ``(i) in the case of any consumer credit 
                        transaction under an open end credit plan 
                        secured by the consumer's principal dwelling, 
                        the maximum amount of credit that may be 
                        extended under the terms of such plan as 
                        determined without taking into account any 
                        amount included in determining the finance 
                        charge under section 106; and
                            ``(ii) in the case of any other consumer 
                        credit transaction secured by a consumer's 
                        principal dwelling, the amount financed (as 
                        defined in section 138(a)(2)).
            ``(3) Prohibition on excessive finance charges.--No 
        creditor or mortgage broker may, in connection with any 
        consumer credit transaction secured by the consumer's principal 
        dwelling, impose or receive any amount included in determining 
        the qualified finance charge for such transaction that exceeds 
        the amount which is equal to 5 percent of the principal amount 
        of the transaction.
            ``(4) Exception.--This subsection shall not apply to any 
        consumer credit transaction secured by the consumer's principal 
        dwelling that is ensured or guaranteed by the Secretary of 
        Housing and Urban Development, the Secretary of Veterans 
        Affairs, or the Farmers Home Administration.
    ``(d) Mortgage Broker Duties of Agency.--
            ``(1) In general.--Any mortgage broker acting to obtain or 
        arrange for any consumer credit transaction secured by the 
        consumer's principal dwelling shall be considered to have an 
        agency relationship with the consumer in all cases by operation 
        of law and shall comply with the following duties:
                    ``(A) Mortgage brokers shall act in the consumer's 
                best interest and in the utmost good faith toward each 
                consumer and shall not compromise a consumer's right or 
                interest in favor of another's right or interest, 
                including a right or interest of the mortgage broker.
                    ``(B) A mortgage broker shall not accept, give, or 
                charge any undisclosed compensation or realize any 
                undisclosed remuneration, either through direct or 
                indirect means, that inures to the benefit of the 
                mortgage broker on an expenditure made for the 
                consumer.
                    ``(C) Mortgage brokers shall carry out all lawful 
                instructions given by the consumer.
                    ``(D) Mortgage brokers shall disclose to consumers 
                all material facts of which the mortgage broker has 
                knowledge which might reasonably affect the consumer's 
                rights, interests, or ability to receive the consumer's 
                intended benefit from the consumer credit transaction, 
                but not facts which are reasonably susceptible to the 
                knowledge of the consumer.
                    ``(E) Mortgage brokers shall use reasonable care in 
                performing duties.
                    ``(F) Mortgage brokers shall account to a consumer 
                for all the consumer's money and property received as 
                agent.
            ``(2) Scope.--The duty of agency between mortgage broker 
        and consumer applies when the mortgage broker is acting in the 
        capacity of mortgage broker providing mortgage brokerage 
        services with respect to any consumer credit transaction 
        secured by the consumer's principal dwelling for which the 
        broker is not the creditor.
            ``(3) Rules of construction.--
                    ``(A) Fees for services rendered.--No provision of 
                this subsection shall be construed as prohibiting a 
                mortgage broker from contracting for or collecting a 
                fee for services rendered which had been disclosed to 
                the consumer in advance of the provision of such 
                services.
                    ``(B) Duty of broker.--No provision of this 
                subsection shall be construed as requiring a mortgage 
                broker--
                            ``(i) to obtain or arrange for any consumer 
                        credit transaction secured by the consumer's 
                        principal dwelling on behalf of a consumer that 
                        contains terms or conditions not available to 
                        the mortgage broker in the mortgage broker's 
                        usual course of business; or
                            ``(ii) to obtain or arrange for any 
                        consumer credit transaction secured by the 
                        consumer's principal dwelling from a creditor 
                        with whom the mortgage broker does not have a 
                        business relationship.
    ``(e) Independent Verification of Consumer Counseling Before 
Refinancing Special Mortgages.--
            ``(1) In general.--No creditor or mortgage broker may make, 
        provide, or arrange for any consumer credit transaction secured 
        by the consumer's principal dwelling all or a portion of the 
        proceeds of which are used to fully or partially pay off a 
        special mortgage unless the borrower has obtained a written 
        certification from an authorized independent loan counselor 
        that the borrower has received counseling on the advisability 
        of the transaction.
            ``(2) Definitions.--For purposes of this section, the 
        following definitions shall apply:
                    ``(A) Special mortgage.--The term `special 
                mortgage' means any consumer credit transaction secured 
                by the consumer's principal dwelling that was 
                originated, subsidized, funded, or guaranteed by or 
                through a State, tribal, or local government, or 
                nonprofit organization, that bears 1 or more of the 
                following nonstandard payment terms which substantially 
                benefit the consumer:
                            ``(i) Payments vary with income.
                            ``(ii) Payments of principal or interest 
                        are not required or can be deferred under 
                        specified conditions.
                            ``(iii) Principal or interest is forgivable 
                        under specified conditions.
                            ``(iv) Either no interest or an annual 
                        interest rate of 2 percent or less is charged 
                        in connection with the loan.
                    ``(B) Authorized loan counselor.--The term 
                `authorized independent loan counselor' means any 
                nonprofit, third-party individual or organization 
                providing homebuyer education programs, foreclosure 
                prevention services, mortgage loan counseling, or 
                credit counseling that is certified by the Secretary of 
                Housing and Urban Development, or certified by any 
                State housing agency or nonprofit organization 
                designated by such Secretary, for such purposes.
    ``(f) Minimum Financial Requirements for Mortgage Brokers.--No 
mortgage broker may obtain or arrange for any consumer credit 
transaction secured by the consumer's principal dwelling unless at all 
times the mortgage broker--
            ``(1) maintains a minimum net worth, net of intangibles, of 
        at least $500,000, as determined in accordance with generally 
        accepted accounting principles; or
            ``(2) maintains a surety bond or irrevocable letter of 
        credit in the amount of $50,000.
    ``(g) Enforcement.--For purposes of providing a cause of action for 
any failure by a mortgage broker to comply with any requirement imposed 
under this section, section 130(a) shall be applied with respect to any 
such failure--
            ``(1) by substituting `mortgage broker' for `creditor' each 
        place such term appears in such section; and
            ``(2) by treating all qualified finance charges (as defined 
        in subsection (c)(2)(A)) incurred in the origination of any 
        consumer credit transaction secured by the consumer's principal 
        dwelling as actual damages sustained by the consumer as a 
        result of the failure.
    ``(h) Exclusion of Reverse Mortgages.--This section shall not apply 
with respect to any consumer mortgage transaction that constitutes a 
reverse mortgage.''.
    (b) Technical and Conforming Amendments.--The Truth in Lending Act 
is amended--
            (1) in section 103 (u) (15 U.S.C. 1602(u)), by striking 
        ``and the disclosures required by section 129(a)'' and 
        inserting ``and the provisions of section 129 and 129A''; and
            (2) in section 130 (15 U.S.C. 1640), by inserting ``or 
        129A'' after section 129 each place such term appears.
    (c) Clerical Amendment.--The table of sections for chapter 2 of the 
Truth in Lending Act is amended by inserting after the item relating to 
section 129 the following new item:

``129A. Originations of consumer credit transactions secured by the 
                            consumer's principal dwelling.''.

Ex Output:
Fairness for Homeowners Act of 2007 - Amends the Truth in Lending Act to prohibit any creditor or mortgage broker from making, providing, or arranging for any consumer credit transaction secured by a consumer's principal dwelling without verifying the consumer's reasonable ability to make the scheduled payments of principal, interest (including variable interest), real estate taxes, homeowner's insurance, assessments, and mortgage insurance premiums.

Prescribes criteria for determining the reasonable ability to make such payments.

Prohibits steering (arranging for a lower investment grade credit transaction if the consumer qualifies for a higher investment grade transaction) and prepayment penalties for adjustable rate mortgages (ARMs) that are not jumbo mortgages.

Limits financed points, finance charges, and fees to 5% of a transaction's principal, unless the transaction is ensured or guaranteed by the Secretary of Housing and Urban Development, the Secretary of Veterans Affairs, or the Farmers Home Administration.

Specifies duties of agency for mortgage brokers acting to obtain or arrange for any consumer credit transaction secured by the consumer's principal dwelling.

Requires creditors and mortgage brokers to obtain independent verification that a borrower seeking to refinance a special mortgage has received counseling on the transaction's advisability. Defines "special mortgage" as one that: (1) was originated, subsidized, funded, or guaranteed by or through a state, tribal, or local government, or nonprofit organization; and (2) bears one or more specified nonstandard payment terms which substantially benefit the consumer.

Prescribes minimum financial requirements for mortgage brokers.

Excludes reverse mortgages from coverage by this Act.


Ex Input:
SECTION 1. ELIMINATION OF QUOTA AND PRICE SUPPORT PROGRAMS FOR PEANUTS.

    (a) In General.--Notwithstanding any other provision of law, the 
Secretary of Agriculture and the Commodity Credit Corporation may not 
provide loans, purchases, payments, or other operations or take any 
other action to support the price, or adjust or control the production, 
of peanuts by using the funds of the Commodity Credit Corporation or 
under the authority of any law.
    (b) Marketing Quotas.--
            (1) In general.--Part VI of subtitle B of title III of the 
        Agricultural Adjustment Act of 1938 (7 U.S.C. 1357 et seq.) is 
        repealed.
            (2) Conforming amendments.--
                    (A) Definitions.--Section 301(b) of the Act (7 
                U.S.C. 1301(b)) is amended--
                            (i) in paragraph (3)(A), by striking 
                        ``corn, rice, and peanuts'' and inserting 
                        ``corn and rice'';
                            (ii) in paragraph (6), by striking 
                        subparagraph (C);
                            (iii) in paragraph (10)(A)--
                                    (I) by striking ``wheat, and 
                                peanuts'' and inserting ``and wheat''; 
                                and
                                    (II) by striking ``; 20 per centum 
                                in the case of wheat; and 15 per centum 
                                in the case of peanuts'' and inserting 
                                ``; and 20 percent in the case of 
                                wheat'';
                            (iv) in paragraph (13)--
                                    (I) by striking subparagraphs (B) 
                                and (C); and
                                    (II) in subparagraph (G), by 
                                striking ``or peanuts'' both places it 
                                appears; and
                            (v) in paragraph (16)(A), by striking 
                        ``rice, and peanuts'' and inserting ``and 
                        rice''.
                    (B) Administrative provisions.--Section 361 of the 
                Act (7 U.S.C. 1361) is amended by striking 
                ``peanuts,''.
                    (C) Adjustment of quotas.--Section 371 of the Act 
                (7 U.S.C. 1371) is amended--
                            (i) in the first sentence of subsection 
                        (a), by striking ``peanuts,''; and
                            (ii) in the first sentence of subsection 
                        (b), by striking ``peanuts''.
                    (D) Reports and records.--Section 373 of the Act (7 
                U.S.C. 1373) is amended--
                            (i) in subsection (a), by striking the 
                        first sentence and inserting the following new 
                        sentence: ``This subsection shall apply to 
                        warehousemen, processors, and common carriers 
                        of corn, wheat, cotton, rice, or tobacco, and 
                        all ginners of cotton, all persons engaged in 
                        the business of purchasing corn, wheat, cotton, 
                        rice, or tobacco from producers, and all 
                        persons engaged in the business of redrying, 
                        prizing, or stemming tobacco for producers.''; 
                        and
                            (ii) in subsection (b), by striking 
                        ``peanuts,''.
                    (E) Regulations.--Section 375(a) of the Act (7 
                U.S.C. 1375(a)) is amended by striking ``peanuts,''.
                    (F) Eminent domain.--The first sentence of section 
                378(c) of the Act (7 U.S.C. 1378(c)) is amended by 
                striking ``cotton, tobacco, and peanuts,'' and 
                inserting ``cotton and tobacco,''.
    (c) Price Support Program.--
            (1) Permanent price support.--Section 101(b) of the 
        Agricultural Act of 1949 (7 U.S.C. 1441 et seq.) is amended by 
        striking ``and peanuts''.
            (2) Temporary price support.--Sections 108, 108A, and 108B 
        of the Act (7 U.S.C. 1445c through 1445c-3) are repealed.
            (3) Conforming amendments.--
                    (A) Section 301 of the Act (7 U.S.C. 1447) is 
                amended by inserting after ``nonbasic agricultural 
                commodity'' the following: ``(other than peanuts)''.
                    (B) Section 408(c) of the Act (7 U.S.C. 1428(c)) is 
                amended by striking ``peanuts,''.
                    (C) Section 5(a) of the Commodity Credit 
                Corporation Charter Act (15 U.S.C. 714c(a)) is amended 
                by inserting after ``agricultural commodities'' the 
                following: ``(other than peanuts)''.
    (c) Liability.--A provision of this section or an amendment made by 
this section shall not affect the liability of any person under any 
provision of law as in effect before the application of the provision 
of this section or the amendment in accordance with subsection (d).
    (d) Application.--This section and the amendments made by this 
section shall apply beginning with the 1996 crop of peanuts.

Ex Output:

Amends the Agricultural Adjustment Act of 1938 and the Agricultural Act of 1949 to repeal respective peanut quota and price support programs.