A bill to amend the Home Owners' Loan Act of 1933 to provide that a Federal savings and loan association may not offer a mortgage with a variable interest rate to any person unless such association also offers such person a mortgage with a fixed interest rate.

Summary

Amends the Home Owners' Loan Act of 1933 to require any Federal savings and loan association which offers a person a mortgage with a variable interest rate to offer such person a 25-year mortgage with an interest rate fixed at the initial rate of the variable rate mortgage.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 7 May 1981

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 7 May 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 May 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 15 May 1981

   Referred

   Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 7 May 1981

  Open at official source

Sponsors

• Rep. Mottl, Ronald M. [D-OH-23] · D · Sponsor
• · hsba00 · Standing

Related records

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