Financial Regulatory Reform Passed by Conference Committee

Anti Predatory Provisions:

  • A new minimum underwriting standard would be enforced that will make lenders verify that borrowers can repay the loan.
  • Ban payments to mortgage originators who steer borrowers into high-priced loans.
  • Protection against prepayment penalties and abusive loan fees.

Data Enhancements:

  • Data enhancements on HMDA (Home Mortgage Disclosure Data) which include loan terms and conditions & age of borrower.
  • Data on the gender and race of the small business borrower so that we know whether woman and minority-owned small business are receiving loans and can start or expand their businesses.
  • A default and foreclosure database that would be an early warning system enabling stakeholders to take action if the data shows a spike in foreclosures.
  • A database of individual loan records in the Home Affordable Modification Program (HAMP) program. This will increase the accountability of the industry for modifying distressed loans.


Click here to download press release as a PDF.

Print Friendly, PDF & Email
Scroll to Top