jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-06-28 00:00:00

FHA Manufactured Housing Loan Modernization Act of 2007 - Amends the National Housing Act with respect to Federal Housing Administration (FHA) housing loan insurance for manufactured homes (or lots for such homes). Exempts such loans from certain financial institution portfolio limits, increasing an allowable claim for loss from 10% to 90% of an institution's total amount of such loans, credit advances, and purchases. Makes any new contract of insurance for such loans, credit advances, or purchases conclusive evidence of an institution's insurance eligibility. (Thus requires each loan to be insured individually instead of as part of a bundle of such loans.) Increases loan limits, requiring annual indexing. Sets forth borrower premium charges, including an up-front premium of up to 2.25% and an annual premium of up to 1%. Revises requirements for the handling and disposal of any real or personal conveyed to or acquired by the Secretary of Housing and Urban Development (HUD), and the pursuit of all claims against mortgagors assigned to the Secretary by mortgagees. Directs the Secretary of HUD to establish underwriting criteria that will ensure the manufactured housing program's financial soundness.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-07-17 00:00:00

FHA Loan Limit Adjustment Act of 2007 - Amends the National Housing Act with respect to mortgage insurance eligibility to revise requirements for the principal amount of a mortgage loan, in part increasing the amount of a mortgage that may be insured by the Federal Housing Administration (FHA). Repeals the requirement that certain mortgagors, before a mortgage is insured, complete a program of counseling on the responsibilities and financial management involved in homeownership. Increases high-cost area and project-based additional mortgage loan limits for FHA-insured mortgages for: (1) rental housing; (2) cooperative housing; (3) rehabilitation and neighborhood conservation housing insurance; (4) moderate income and displaced family housing; (5) housing for the elderly; and (6) condominiums.
Topic: Domestic Commerce — Consumer Finance
Subject: Education
Date: 2007-07-19 00:00:00

Private Student Loan Disclosure Enhancement Act of 2007 - Amends the Truth in Lending Act to subject private education loans to its consumer credit disclosure requirements. Sets forth the private student loan terms and conditions which lenders must clearly and conspicuously disclose to borrowers in any application or solicitation for such a loan and contemporaneously with the approval of a private student loan application. Gives private student loan borrowers 30 days after the loan is approved and the required loan disclosure information is received to accept and consummate the loan transaction. Subjects lenders to civil liability for violating such requirements. Requires civil actions to be brought within one year after the first monthly payment on the loan becomes due after the borrower leaves school, unless full repayment begins earlier. Requires private student loan providers, when making the required loan disclosures, to inform borrowers of their possible eligibility for federal educational loans. Requires the Board of Governors of the Federal Reserve System to develop and test a student borrower disclosure statement that encourages students to use federal educational loans and discloses their average interest rate and the fact that they are less costly than private education loans.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2007-08-01 00:00:00

Student Credit Card Protection Act of 2007 - Amends the Truth in Lending Act to limit by a specified formula the total credit which may be extended by a creditor during any full calendar year to a full time, traditional-aged college student under a college student credit card account, unless a parent, legal guardian, or spouse of the student assumes joint liability for debts incurred. Prohibits increasing the credit limit on an account for which a parent, guardian, or spouse has assumed joint liability without that person's written approval. States that a creditor must require adequate proof of income, income history, and credit history, before any such college student credit card account may be opened. Prohibits a creditor from opening a credit card account for, or issue any credit card to, any college student who: (1) has no verifiable annual gross income; and (2) already maintains a credit card account under an open end consumer credit plan with the same creditor or any affiliate. Directs the Board of Governors of the Federal Reserve System to promulgate implementing regulations.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2007-08-02 00:00:00

Amends the Internal Revenue Code to allow bonds guaranteed by any federal home loan bank to be treated as tax-exempt state or local bonds (thus excluding interest on such bonds from gross income).
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-08-03 00:00:00

Home Ownership Made Easier Act or the HOME Act - Amends the Housing Act of 1949 to revise eligibility, qualifying population limit, guarantee fee, and refinancing requirements of the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program.Replaces the current 115% of area median income eligibility limit for families with three income tiers, including households of up to four members, of up to eight members, and of over eight members.Repeals the requirement that the loan applicant qualify for other specified federal housing loans as well. Requires the single-family residence acquired or constructed with such a loan to be located in a rural area (as under current law), but allows the area population to range up to 40,000.Increases from 1% to 2% of the principal obligation of a guaranteed loan the guarantee fee which the Secretary may collect from the lender.Permits the refinancing of a guaranteed loan to: (1) pay off any other loan (including a first or second purchase mortgage) not made or guaranteed under such Act; (2) repair mechanical or structural deficiencies to the borrower's residence; (3) pay for authorized closing costs, including a discount of up to 200 basis points and an origination fee of up to 100 basis points; (4) allow the borrower to consolidate debts of up to the greater of $10,000 or 10% percent of the loan amount; and (5) carry out other authorized purposes.Prohibits denial of a loan or loan guarantee to an eligible borrower solely because the borrower is not eligible (or is eligible and has not applied for) assistance under any other federal loan, housing, housing assistance, or other housing related program.Makes $2,400 the mandatory exclusion amount in the adjusted income of minors, students, and persons with disabilities under the farm housing financial assistance program.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-09-10 00:00:00

Protecting Access to Safe Mortgages Act - Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to increase mortgage portfolio limitations placed upon: (1) the Federal National Mortgage Association (Fannie Mae); and (2) the Federal Home Loan Mortgage Corporation (Freddie Mac), respectively. Instructs the Director of the Office of Federal Housing Enterprise Oversight (OFHEO) of the Department of Housing and Urban Development (HUD) to lift: (1) the limitation on growth provision set forth in the Fannie Mae Consent Decree; and (2) the voluntary temporary growth limitation described in a certain Freddie Mac Letter. Requires 50% of such portfolio increase to be used on loans which have had or will have interest rate resets between June 2005 and December 2009.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-09-27 00:00:00

American Home Ownership Preservation Act of 2007 - Amends the Truth in Lending Act to require certain mortgage originators or lenders with primary responsibility for underwriting an assessment on a home mortgage loan to include a borrower's ability to repay certain associated costs. Requires a mortgage broker to clearly disclose its relationship to the borrower. Directs the federal banking agencies to establish a nationwide registry and database system in which all mortgage brokers in the United States must register. Eliminates prepayment penalties for home mortgages. Instructs the Secretary of the Department of Housing and Urban Development (HUD) to make grants to state governments and tribal organizations to assist: (1) programs established for foreclosure mitigation; and (2) housing trust funds supporting low- and moderate-income housing. Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to direct the HUD Secretary to establish an annual goal for each government-sponsored enterprise to identify and assist homeowners at risk of default or foreclosure on their mortgage, but who would be able to stabilize the situation with fixed rate 30- or 40-year mortgages. Authorizes appropriations for mortgage fraud enforcement and prosecution.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2007-10-04 00:00:00

Mortgage Disclosure Improvement Act of 2007 - Amends the Truth in Lending Act to require a creditor to disclose to a consumer with respect to an extension of credit secured by the consumer's dwelling that the consumer is not required to complete the credit agreement merely because the consumer has received required disclosures or signed a loan application. Requires such disclosure to be furnished to the borrower not later than seven business days before the consummation of the transaction, as well as at the time of consummation. Requires additional disclosures in such a circumstance regarding any variable rates or payment schedules. Increases the actual damages for which a creditor is liable for noncompliance with such Act in the case of an individual action relating to a credit transaction not under an open end credit plan that is secured by real property or a dwelling. Replaces the current range of damages from $200 to $2,000 with a flat damages amount of $5,000, adjusted annually for inflation.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-10-16 00:00:00

Promoting Refinancing Opportunities for Mortgages Impacted by the Subprime Emergency Act of 2007, or the PROMISE Act - Requires the Director of the Office of Federal Housing Enterprise Oversight (OFHEO) of the Department of Housing and Urban Development to terminate, suspend, modify, or otherwise lift: (1) the limitation on growth provision set forth in the Fannie Mae Consent Decree (the OFHEO order dated May 23, 2006, in the matter of the Federal National Mortgage Association (Fannie Mae)); and (2) the voluntary temporary growth limitation described in the Freddie Mac Letter (dated July 31, 2006, from the Chairman and Chief Executive Officer of the Federal Home Loan Mortgage Corporation (Freddie Mac) to the OFHEO Director). Requires: (1) the Director to increase the mortgage portfolio limitations of both enterprises by at least 10%; and (2) the use of 85% of such increase for refinancing subprime mortgages at risk of foreclosure.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-10-31 00:00:00

Community Health Center Capital Investment Act - Amends the National Housing Act to revise the eligibility requirements for mortgages insured by the Secretary of Housing and Urban Development (HUD) to include a mortgage executed by a health center.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2007-11-01 00:00:00

Mortgage Disclosure Enhancement Act of 2007 - Amends the Truth In Lending Act to require additional mortgage loan disclosures by a creditor to a consumer, including: (1) ) the percentage of the loan, as compared to the appraised value of the property; (2) the term of the loan; (3) the monthly income of the borrower, as relied upon in making the loan; (4) the annual percentage rate of interest for loans that are fixed, and for loans that are variable; (5) prepayment fees; and (6) balloon payments. Amends the Real Estate Settlement Procedures Act of 1974 to conform with this Act.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-11-13 00:00:00

Real Estate Transparency Act of 2007 - Amends the Real Estate Settlement Procedures Act of 1974 to modify requirements governing settlement statements. Requires the originator of a federally related mortgage loan to provide, within three days of a loan application, a written agreement to the applicant itemizing all of the fees the originator may charge at or before loan settlement, including origination, underwriting, and broker fees. Excludes from such requirement bona fide discount points payable by the borrower to reduce the loan's interest rate. Requires an originator fee agreement to set out the following fee payment methods: (1) paying in cash before or at settlement; (2) adding such fees into the total loan amount to be borrowed; and (3) increasing the loan's interest rate. Requires: (1) written and oral explanations of a borrower's payment options; and (2) a borrower's signature attesting agreement with originator fees and with the chosen method of payment. Requires the originator to provide the applicant with a written early settlement statement of all settlement costs to be charged at or before settlement. Shields borrowers from liability for any such fees not disclosed on an early settlement statement, except in certain circumstances. Establishes originator liability to a borrower for non-compliance with this Act, including reimbursement of the borrower for court costs. Repeals the requirement that special information booklets prepared by the Secretary of Housing and Urban Development (HUD) for borrowers contain a good faith estimate of the amount or range of expected settlement charges.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-11-13 00:00:00

Promoting Refinancing Opportunities for Mortgages Impacted by the Subprime Emergency Act of 2007, or the PROMISE Act - Requires the Director of the Office of Federal Housing Enterprise Oversight (OFHEO) of the Department of Housing and Urban Development to terminate, suspend, modify, or otherwise lift: (1) the limitation on growth provision set forth in the Fannie Mae Consent Decree (the OFHEO order dated May 23, 2006, in the matter of the Federal National Mortgage Association (Fannie Mae)); and (2) the voluntary temporary growth limitation described in the Freddie Mac Letter (dated July 31, 2006, from the Chairman and Chief Executive Officer of the Federal Home Loan Mortgage Corporation (Freddie Mac) to the OFHEO Director). Requires: (1) the Director to increase the mortgage portfolio limitations of both enterprises by at least 10%; and (2) the use of 85% of such increase for refinancing subprime mortgages at risk of foreclosure.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2007-12-05 00:00:00

Credit Card Safety Star Act of 2007 - Amends the Truth in Lending Act to direct the Board of Governors of the Federal Reserve System to promulgate rules to implement a Safety Star System, with one to five stars, to allow consumers to compare quickly and easily the terms, conditions, and levels of safety associated with various open end credit plan agreements. Specifies a point structure for rating credit cards. Assigns an automatic one-star rating (the lowest level of safety) to any open end credit plan: (1) that allows the card issuer to modify the terms of the agreement with a cardholder at any time or periodically for unspecified or unstated reasons; or (2) under which other accounts, or changes by a third party in the cardholder's credit rating, are used as a basis for adverse changes in the agreement (including universal default). Establishes the Credit Card Safety Star Advisory Commission.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2007-12-12 00:00:00

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; and (6) modification and deferral fees. Prohibits creditors from financing, in connection with a high-cost mortgage, any prepayment fee or penalty, or any points or fees. Prohibits an originator from making or arranging a high-cost mortgage loan that involves a refinancing of a prior existing home mortgage loan unless the new loan will provide a net tangible benefit to the consumer. Sets forth prerequisites for subprime and nontraditional home loans, including: (1) an assessment of ability to pay; (2) a requirement of tax and insurance escrows; (3) prohibition of prepayment penalties and yield-spread premiums; and (4) a requirement of net tangible benefit to the consumer in the case of a subprime or nontraditional mortgage loan transaction that involves refinancing of an existing home mortgage. Imposes a duty of care and a duty of good faith and fair dealing upon mortgage brokers and lenders, appraisers, and lenders and loan servicers. Empowers state Attorneys General to enforce this Act. Subjects lenders, loan servicers, creditors and mortgage brokers to civil liability for violations of this Act. Increases the amount of the penalty that may be awarded. Amends the Real Estate Settlement Procedures Act of 1974 to require a transferor of loan servicing before the transfer tonotify the borrower of the status of the account and its full payment history. Amends the Housing and Urban Development Act of 1968 to revise requirements for foreclosure prevention counseling. Amends the Truth in Lending Act to expand from three to six years an obligor's right of rescission. Imposes liability for monetary damages upon assignees of subprime or nontraditional loans for violations of this Act.Sets forth a remedy in lieu of rescission for certain violations.Prohibits mandatory arbitration. Subjects a lender to liability for certain actions, omissions, and representations made by a mortgage broker in connection with a high-cost mortgage, a subprime mortgage, or a nontraditional mortgage. Amends the Federal Trade Commission Act to require the federal banking agencies and the National Credit Union Administration Board each to establish a separate division of consumer affairs protection and regulations with respect to depository institutions and federal credit unions. Authorizes appropriations to employ additional agents of the Federal Bureau of Investigation and additional dedicated prosecutors at the Department of Justice to coordinate prosecution of mortgage fraud efforts with the offices of the U.S. Attorneys.
Topic: Domestic Commerce — Consumer Finance
Subject: Commerce
Date: 2007-12-12 00:00:00

Authorizes appropriations to carry out research and enforcement regarding misleading mortgage advertisements, in an amount double the amount spent for such purposes in the previous fiscal year, for the Division of Financial Practices of the Bureau of Consumer Protection of the Federal Trade Commission (FTC).
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-12-14 00:00:00

Reverse Mortgage Proceeds Protection Act - Amends the National Housing Act of 1937 to modify the eligibility criteria for insurance of home equity conversion mortgages (reverse mortgages) of elderly home owners. Excludes from the third party adequate counseling requirement counseling by a reverse mortgage lender, servicer or investor, or an entity engaged in the sale of annuities, investments, long-term care insurance, or any other type of financial or insurance product. Repeals the waiver of up-front insurance premiums for mortgages to fund long-term care insurance. Authorizes the Secretary of Housing and Urban Development (HUD) to use a portion of reverse mortgage insurance premiums to fund mandatory counseling and disclosure activities, including counseling for homeowners who elect not to take out a home equity conversion mortgage. Directs the Secretary to promulgate regulations to protect elderly homeowners from the marketing of financial and insurance products not in their interest, including the marketing or sale of an annuity as a precondition to obtaining a home equity conversion mortgage.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2007-12-18 00:00:00

Amends the Internal Revenue Code to: (1) allow proceeds of qualified mortgage bonds to be used to refinance certain residential subprime loans issued between 2002 and 2008; (2) increase in 2008 limitations on issuance amounts for qualified mortgage bonds; and (3) exempt tax-exempt interest on qualified mortgage or veterans' mortgage bonds issued before 2011 from the alternative minimum tax.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2008-01-22 00:00:00

Credit Card Minimum Payment Notification Act of 2008 - Amends the Truth in Lending Act regarding disclosures required with each billing cycle under an open end consumer credit plan to require a credit card issuer to include in specified type a written statement in the following form: "Minimum Payment Warning: Making only the minimum payment will increase the interest you pay and the time it takes to repay your balance."Prescribes additional three-line statements disclosing the length of time it will take to pay off balances and the final cost to the consumer of interest rates charged.Requires disclosure of a toll-free telephone number to obtain an estimate in person rather than a recording of the time to repay the balance making only minimum payments and the total amount of those payments.Directs the Federal Trade Commission (FTC) to establish a detailed table illustrating the approximate number of months that it would take and the approximate total cost to repay an outstanding balance if the consumer pays only the required minimum monthly payments and if no other additional charges or fees are incurred on the account.Exempts from such disclosure requirements any billing cycle in which: (1) the account agreement requires a minimum payment of not less than 10% of the outstanding balance; and (2) finance charges are not imposed.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2008-01-30 00:00:00

Mortgage Refinancing Initiative Act of 2008 - Amends the Internal Revenue Code to: (1) allow, until December 31, 2009, proceeds of qualified mortgage bonds to be used to refinance an existing mortgage; and (2) increase in 2008 and 2009 the national limitation amount for such bonds.