Search Results for keywords:"residential mortgage loans"

Search Results: keywords:"residential mortgage loans"

H. R. 8402 — To provide for accurate energy appraisals in connection with residential mortgage loans, and for other purposes.
May 15, 2024
Status:Introduced in House
Congress:118
Words:1,795
H. R. 8402, also known as the "GREEN Appraisals Act of 2024," requires that borrowers be informed about energy efficiency appraisals when applying for a residential mortgage loan. The bill mandates that lenders must include information about energy reports, which assess the...
Simple Explanation
This bill is about checking how much energy a home uses when someone wants to get a home loan. It says banks have to tell appraisers about a home's energy usage and let them use this information to help decide how much the house is worth.
S. 3502 — To amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes.
December 13, 2023
Status:Introduced in Senate
Congress:118
Words:520
S. 3502 aims to amend the Fair Credit Reporting Act to impose new restrictions on how consumer reporting agencies share consumer credit reports. It prevents these agencies from providing credit reports to third parties when a report is requested for a residential mortgage...
Simple Explanation
S. 3502 is a new rule that says companies that check people's credit scores must get permission before sharing reports, especially when someone is trying to buy a house. This is like making sure they get a "yes" from the person before telling others about their grades.
S. 3502 — An Act To amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes.
December 17, 2024
Status:Engrossed in Senate
Congress:118
Words:558
S. 3502, titled the “Homebuyers Privacy Protection Act,” aims to amend the Fair Credit Reporting Act. The bill seeks to limit consumer reporting agencies from sharing consumer credit reports when requested for transactions involving residential mortgage loans. Under this...
Simple Explanation
The "Homebuyers Privacy Protection Act" is a plan to change the rules so that companies can't share people's credit information when they are buying a house unless they're allowed by the person or already helping with the house's money. This rule is meant to keep personal money details safe and starts working 90 days after it becomes a law.
H. R. 7297 — To amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes.
February 07, 2024
Status:Introduced in House
Congress:118
Words:556
H. R. 7297, known as the "Homebuyers Privacy Protection Act," aims to amend the Fair Credit Reporting Act to restrict circumstances under which consumer reporting agencies can provide consumer reports. Specifically, the bill prohibits these agencies from sharing consumer...
Simple Explanation
The bill wants to make sure that companies who check people's credit scores can only share this information in certain situations, like when the person agrees or when it's really important for someone helping with their mortgage.

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