Mortgage Loan Consumer Protection Act

Summary

Mortgage Loan Consumer Protection Act - Amends the Truth in Lending Act, with respect to credit extensions secured by a real property interest, to revise the category of excluded finance charge items. Amends the Real Estate Settlement Procedures Act, with respect to the uniform settlement statement, to require: (1) separate lines for "closing costs, "prepaid items," and "all other costs paid at closing"; (2) at least two days' advance availability of the final settlement statement; and (3) disclosure of all lender fees. Provides, with respect to special information booklets, for: (1) harmonization of good faith estimates and settlement statements; and (2) inclusion of refinancing and upfront payment option information. Prohibits markups and unearned fees. Sets forth servicer escrow-related liabilities. Revises damage and cost, and jurisdiction and statute of limitations provisions.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 May 2002

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• Introduced in House (PDF)

  Introduced in House · EN · 22 May 2002

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• Introduced in House

  summary · EN · 22 May 2002

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