Search Results: keywords:"borrower protection"

  • S. 3784 — To provide requirements for the bulk auction or group sale of certain non-performing loans, and for other purposes.
    Status:Introduced in Senate
    Words:6,498

    The bill titled "Preserving Homes and Communities Act of 2024" proposes guidelines for the bulk auction or group sale of specific non-performing loans to ensure transparency and fair practices. It mandates that federal, state, local, or tribal governments, along with nonprofit organizations,...

    Simple Explanation

    The bill is about making sure that when big groups of unpaid home loans are sold, governments and non-profit groups get the first chance to buy them, so they can help people find affordable places to live. It also wants to collect information to see how well this helps neighborhoods.

  • H. R. 8660 — To strengthen requirements for contracts between the Department of Education and Federal student loan servicers, and for other purposes.
    Status:Introduced in House
    Words:2,726

    H.R. 8660, titled the “Student Loan Servicers Accountability Act of 2024,” aims to increase the accountability of Federal student loan servicers through enhanced vetting and contract requirements. The bill mandates that servicers evaluate their past performance, consumer satisfaction, and...

    Simple Explanation

    H.R. 8660 wants to make sure the people who help manage student loans do a good job by checking their work carefully and making them fix mistakes. It also plans to make important information available in different languages to help everyone understand it better.