Real Estate Transaction Privacy Promotion Act

Summary

Real Estate Transaction Privacy Promotion Act - Amends the Real Estate Settlement Procedures Act of 1974 to prohibit a creditor from requiring a borrower to furnish (through a copy of Internal Revenue Service Form 4506) open-ended access to such borrower's tax records as a condition of making a federally related mortgage loan, unless the form: (1) is fully completed before signing by the borrower; (2) specifically requests tax information for not more than the two tax periods most recently completed as of the date that the form is signed; and (3) is completed, signed, and dated not later than the date of settlement involving such loan. Directs the Secretary of Housing and Urban Development to explain such proscription and attendant penalties in the special information booklet mandated by the Act.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 August 1998

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 4 August 1998

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 4 August 1998

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.