HR 2069
Home Loan Quality Transparency Act of 2021
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Home Loan Quality Transparency Act of 2021 aims to increase transparency in the mortgage lending industry by requiring more lenders to disclose information about their loan products and practices. Specifically, the bill removes an exemption that previously allowed smaller lenders (those with $30 million in assets or less) to avoid certain disclosure requirements under the Home Mortgage Disclosure Act. This change ensures that a wider range of lenders are subject to these reporting standards, promoting greater accountability and potentially addressing lending disparities.
Sponsors
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Primary sponsor
Nydia M. Velazquez
Cosponsors
Carolyn B. Maloney
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