H.R. 5941 · 111th Congress
Anti-Redlining and Anti-Mortgage Fraud Act of 2010
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
TownsSponsorNo cosponsors.
Anti-Redlining and Anti-Mortgage Fraud Act of 2010 - Makes it unlawful for any person or entity to extend credit, provide funds, or collect any payments in connection with an extension of credit secured by a single-family residence unless the originator has recorded the credit application with the clearinghouse established under this Act.
What it does: CRS summary · Introduced in House · Jul 29, 2010
Anti-Redlining and Anti-Mortgage Fraud Act of 2010 - Makes it unlawful for any person or entity to extend credit, provide funds, or collect any payments in connection with an extension of credit secured by a single-family residence unless the originator has recorded the credit application with the clearinghouse established under this Act.
Directs the Secretary of the Treasury, acting through the Director of the Financial Crimes Enforcement Network (FinCEN) of the Department of the Treasury, to: (1) establish a mortgage application recordation system which includes a clearinghouse, managed by a private sector entity, to record single-family residence mortgage applications; and (2) require mortgage originators to record such credit applications with the clearinghouse.
Prescribes criteria for the clearinghouse operator, which shall bear all clearinghouse costs.
Authorizes the Secretary to guarantee repayment of principal and interest on a loan to the clearinghouse operator sufficient to cover clearinghouse costs.
Requires the clearinghouse to collect information using an Internet-based electronic system. Makes all information collected by the clearinghouse is property of the Secretary.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Anti-Redlining and Anti-Mortgage Fraud Act of 2010
Latest action (Jul 29, 2010): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Jul 29, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.