jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Consumer Finance
Subject: Crime and law enforcement
Date: 2007-07-12 00:00:00

Stop Mortgage Fraud Act - Authorizes appropriations to the Department of Justice for FY2008-FY2012 for: (1) the employment of 30 additional agents of the Federal Bureau of Investigation (FBI) and two additional prosecutors to coordinate prosecution of mortgage fraud cases with the offices of the U.S. Attorneys; and (2) the operations of the FBI interagency task forces in the areas with the 15 highest concentrations of mortgage fraud.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-07-18 00:00:00

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.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-07-23 00:00:00

Financial Literacy for Homeowners Act - Authorizes the Secretary of the Treasury to make grants to state and local governments and nonprofit organizations to implement anti-predatory lending activities, including: (1) consumer education programs; (2) certified home ownership counseling programs; and (3) referral services for homeowners and prospective homeowners. Directs the Secretary provide for establishment, operation, and publication of a nationwide toll-free telephone number to receive consumer complaints regarding predatory and unscrupulous lending practices relating to home loans. Establishes the Predatory Lending Advisory Council to: (1) advise the Secretary; and (2) study and report to the Secretary and Congress on the root causes of default and foreclosure of home loans.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-08-01 00:00:00

Mortgage Broker Transparency and Accountability Act of 2007  Amends the Truth in Lending Act to establish mandatory responsibilities, duties, and disclosures governing mortgage brokers. Deems any mortgage broker to have a statutory agency relationship with the consumer subject to all requirements under state or federal law. Sets forth disclosure requirements, including disclosure of: (1) the risks and benefits of each home mortgage loan product; (2) possible payment increases at the time of any resetting of rate; (3) the extent of any prepayment penalties and balloon payments; and (4) the consumer's responsibilities to pay taxes and insurance with respect to such product. Requires mortgage brokers to maintain a bond that inures, first, to the benefit of any consumer who has any claim against the mortgage broker under this Act. Prohibits: (1) mortgage brokers from steering a consumer to a higher-cost mortgage than one for which the consumer would otherwise qualify; and (2) waiver by a consumer of the requirements imposed upon a mortgage broker under this Act. Requires disclosure of specified affiliations on the part of persons involved in the home mortgage loan process.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2007-08-02 00:00:00

Identity Theft Protection Act of 2007 - Amends the Fair Credit Reporting Act to authorize a consumer to request a consumer reporting agency to place a security freeze upon his or her consumer report. Prohibits a consumer reporting agency, if a security freeze is in place, from releasing a consumer report to a third party without prior express authorization from the consumer.Prescribes procedures for removal and temporary suspension of a security freeze.Requires a consumer reporting agency to notify the consumer in writing before removing the security freeze.Identifies specified entities, including governmental agencies, to which these prohibitions and requirements do not apply.Permits a consumer reporting agency to charge a fee for placing or temporarily suspending a security freeze on a consumer report.Prohibits a consumer reporting agency from charging a fee for placing, removing, or temporarily suspending a security freeze if a consumer: (1) has either filed a police report, or made a complaint to a police department concerning identity theft; or (2) has received notice that a breach of data security has occurred with respect to information required by law to be maintained securely and in confidence.Exempts specified entities from this Act, including certain aggregators and other agencies acting only as resellers of credit information which do not maintain a permanent data base of consumer information from which new consumer reports are produced.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2007-08-02 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: Finance and financial sector
Date: 2007-08-03 00:00:00

Credit Protection Act of 2007 - Amends the Truth in Lending Act to prohibit a creditor from using adverse information concerning any consumer, including information in any consumer report or any change in the consumer's credit score, as the basis for increasing the annual percentage rate of interest (APR) or introductory APR applicable to a credit card account under an open end consumer credit plan for reasons other than actions or omissions of the consumer that are directly related to such account. Requires conspicuous payment disclosures on a creditor's billing cycle statement, including: (1) the minimum monthly payment on the outstanding balance; (2) the number of months that it would take to pay the entire amount of the outstanding balance at the current APR if only the required minimum monthly payment is paid; and (3) the total cost to the consumer to pay the remaining balance.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2007-09-07 00:00:00

Foreclosure Tax Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income up to $50,000 of the amount attributable to a discharge of mortgage indebtedness or to a refinancing of a principal residence. Limits such tax exclusion to taxpayers with modified adjusted gross incomes of $100,000 or less ($200,000 in the case of a joint tax return).
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2007-09-14 00:00:00

FACT Act Rulewriting Improvement Act of 2007 - Amends the Fair Credit Reporting Act to confer responsibility upon the Federal Trade Commission (FTC) alone to establish accuracy guidelines and prescribe regulations (according to the Fair and Accurate Credit Transactions Act of 2003, or the FACT Act of 2003): (1) for furnishers of information to consumer reporting agencies; and (2) about the circumstances under which such a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information in a consumer report, based on a consumer's direct request. (Currently the FTC, the federal banking agencies, and the National Credit Union Administration are jointly required to establish such guidelines and prescribe such regulations.) Directs the federal banking agencies and the National Credit Union Administration to establish guidelines and prescribe regulations within their respective jurisdictions that are the same or substantially similar to those prescribed by the FTC.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-09-14 00:00:00

Homebuyer's Protection Act of 2007 - Amends the Truth in Lending Act to require a creditor to establish, in an insured depository institution, an escrow or impound account for payment of taxes and hazard insurance at the time of the consummation of a subprime mortgage transaction. Requires such account to remain in existence for as long as the subprime mortgage is outstanding. Requires creditors, before consummating a consumer credit transaction involving an impound, trust, or escrow account, to provide the following written disclosures: (1) that an escrow or impound account will be established; (2) the amount required to fund such account; (3) the amount in the initial year of estimated taxes and hazard insurance premiums; and (4) the estimated monthly amount payable for taxes and hazard insurance. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to extend its appraisal requirements to all real estate related financial transactions, not only those that are federally related.
Topic: Domestic Commerce — Consumer Finance
Subject: Law
Date: 2007-09-20 00:00:00

Emergency Home Ownership and Mortgage Equity Protection Act of 2007 - Amends federal bankruptcy law governing a chapter 13 debtor (adjustment of debts of an individual with regular income) to prohibit the holder of a claim in bankruptcy which is secured by debtor's principal residence from adding fees, costs, or charges while the case is pending, unless such claimholder gives timely notice to both debtor and the bankruptcy trustee. Revises requirements for the discretionary features of a chapter 13 debtor's plan. Removes the prohibition against modification of the rights of a holder of a claim secured only by an interest in real property that is the debtor's principal residence. (Thus allows a plan to modify such rights.) Authorizes a chapter 13 bankruptcy plan to provide for payment of allowed claims secured by the debtor's principal residence over a period that exceeds a specified time frame. Eliminates the pre-petition credit counseling requirement for a chapter 13 debtor facing foreclosure if the debtor submits a certification to the court that the holder of a claim secured by the debtor's principal residence has initiated foreclosure on that residence. Adds to conditions for court confirmation of a plan in bankruptcy that the holder of an allowed claim secured by the debtor's principal residence shall retain the lien securing such claim until the claim is paid. Excludes from final discharge of a debtor from all debts any allowed claim secured by the debtor's principal residence before such claim is paid.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2007-09-25 00:00:00

Mortgage Forgiveness Debt Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income amounts attributable to a discharge, prior to January 1, 2010, of indebtedness incurred to acquire a principal residence. Limits to $2 million the excludable amount of such indebtedness. Reduces the basis of a principal residence by the amount of discharged indebtedness excluded from gross income. Disallows an exclusion for a discharge of indebtedness on account of services performed for the lender or any other factor not directly related to a decline in the value of the residence or to the financial condition of the taxpayer. Sets forth rules for determining the allowable amount of the exclusion for taxpayers with nonqualifying indebtedness and taxpayers who are insolvent. Extends through 2010 the tax deduction for mortgage insurance premiums. Sets forth alternative tests for qualifying as a cooperative housing corporation for purposes of the tax deduction for payments to such corporations. Qualifies a corporation if: (1) 80% or more of the total square footage of the corporation's property is used or available for use by its tenant-stockholders for residential purposes, or (2) 90% of the corporation's expenditures are for the acquisition, construction, management, maintenance, or care of its property for the benefit of the tenant-stockholders. Allows members of a qualified volunteer emergency response organization (i.e., an organization that provides firefighting and emergency medical services) an exclusion from gross income for state and local tax benefits and for certain payments for services. Terminates such exclusion after 2010.Allows certain full-time students who are single parents and their children to live in housing units eligible for the low-income housing tax credit provided that their children are not dependents of another individual (other than a parent of such children).Allows a surviving spouse to exclude from gross income up to $500,000 of the gain from the sale or exchange of a principal residence owned jointly with a deceased spouse if the sale or exchange occurs within two years of the death of the spouse and other ownership and use requirements have been met. Increases the penalty for failure to file a partnership tax return and extends from five to 12 the number of months in which such penalty may be imposed. Limits disclosure of tax return information that includes individual taxpayer identify information.Imposes an additional penalty on S corporations for failure to file required tax returns.Amends the Tax Increase Prevention and Reconciliation Act of 2005 to increase the estimated tax payment due in the third quarter of 2012 for corporations with assets of at least $1 billion.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-09-25 00:00:00

Foreclosure Prevention and Homeownership Protection Act - Establishes the Commission to Preserve the American Dream (Commission) to study and report to Congress and the President on: (1) the adequacy of the existing legal and regulatory framework to address the current foreclosure and mortgage lending crisis and to prevent similar crises from happening in the future; (2) the role of the states versus the role of the federal government in ensuring homeowners are protected against unscrupulous lending practices; and (3) the effects of this crisis on the domestic and world economies. Requires the Commission to make recommendations regarding: (1) ways to assist homeowners currently in danger of losing their homes; (2) ways to encourage lenders and borrowers to work together to prevent foreclosure; and (3) legislative and regulatory changes to protect homeowners against unscrupulous lending practices and strengthen accountability for those involved in the mortgage lending market.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-09-27 00:00:00

Fair Disclosure for Homeowners Act of 2007 - Amends the Truth in Lending Act to require the creditor or servicer of a loan to disclose specified financial information in writing to a consumer concerning the interest rate in effect during the introductory period of a hybrid adjustable rate mortgage which adjusts or resets to a variable interest rate. Requires such disclosure to include: (1) any index or formula used in making adjustments to or resetting the interest rate and a source of information about the index or formula; (2) an explanation of how the new interest rate and payment would be determined; (3) the best estimate of the creditor or servicer of the amount of the monthly payment that will apply after the date of the adjustment or reset, and the assumptions on which this estimate is based; and (4) a list of alternatives consumers may pursue before the date of adjustment or reset, and descriptions of the actions consumers must take to pursue these alternatives. Requires periodic statements provided to a consumer by a creditor or servicer, regarding a hybrid adjustable rate mortgage, to include clearly and conspicuously the date on which such mortgage adjusts or resets from a fixed interest rate during the introductory period to a variable rate.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-10-02 00:00:00

Mortgage Disclosure Simplification Act of 2007 - Amends the Real Estate Settlement Procedures Act of 1974 to instruct the Secretary of Housing and Urban Development to develop and prescribe standard written forms stating the essential terms of a federally related mortgage loan, which lenders or mortgage brokers shall provide to prospective mortgagors. Requires such disclosures to include: (1) a statement of terms regarding a federally related mortgage loan; and (2) a statement of basic easy-to-understand definitions or explanations of such terms.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-10-09 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 Order; and (2) the voluntary temporary growth limitation described in a certain Freddie Mac Letter.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-10-10 00:00:00

Mortgage Kickback Prevention Act of 2007 - Amends the Truth in Lending Act to prohibit a mortgage originator from receiving payment of incentive compensation, including yield spread premium, that is based upon, or varies with, the terms of a residential mortgage loan (steering incentive).
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-10-16 00:00:00

Escrow, Appraisal, and Mortgage Servicing Improvements Act - Amends the Truth in Lending Act to require a creditor, in a consumer credit transaction secured by the consumer's principal dwelling, to establish an escrow or impound account to pay taxes and hazard insurance, and, if applicable, flood insurance, mortgage insurance, ground rents, and any other required periodic payments or premiums. Requires written disclosures by the creditor to the consumer regarding: (1) such escrow or impound account; and (2) consumers who opt out of escrow services. Amends the Real Estate Settlement Procedures Act of 1974 to proscribe specified practices by the servicer of a federally related mortgage, including obtaining force-placed hazard insurance coverage to protect the mortgagee's interest in the property. Prohibits practices related to default, late fees, or foreclosure. Requires prompt: (1) crediting of payments; (2) responses to payoff balances; and (3) refund of escrow accounts upon payoff. Directs the Secretary of Housing and Urban Development to study and report to specified congressional committees on mortgage servicing fraud. Amends the Truth in Lending Act to: (1) require repayment analyses to include escrow payments; (2) include a written property appraisal as a prerequisite to granting a mortgage; (3) prohibit unfair and deceptive practices and acts relating to consumer credit transactions secured by the principal dwelling, especially in property appraisals; and (4) require a mortgage originator to make available to the credit applicant all appraisal valuation reports no later than three days prior to the transaction closing date. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to: (1) include among the functions of the Appraisal Subcommittee protection of the consumer from improper appraisal practices and the predations of unlicensed appraisers; and (2) expand state agency reporting requirements to include transmittal to the Appraisal Subcommittee of reports on claims, disciplinary actions, license and certification revocations, and suspensions. Prohibits certain interested parties in a real estate transaction involving an appraisal from engaging in specified practices to improperly influence a real estate appraisal in connection with a mortgage loan. Requires the Comptroller General to study and report to specified congressional committees on possible improvements in the appraisal process and in state compliance programs.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2007-10-16 00:00:00

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) to 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: 2007-10-18 00:00:00

Negative Amortization Mortgage Loan Transparency Act - Amends the Truth in Lending Act to require a lender to make specified prior disclosures to a first-time borrower in connection with a consumer credit transaction secured by residential real property with a dwelling, other than a reverse mortgage, where the payment plan may result in negative amortization over the term of the loan. Requires the consumer debtor to provide the creditor with documentation that the consumer received home ownership counseling from organizations or counselors certified by the Secretary of Housing and Urban Development.