United States 114th Congress Status: Died 1 R cosponsors

HR 3393 — Mortgage Fairness Act of 2015

Last action — Referred to the House Committee on Financial Services.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Mortgage Fairness Act of 2015 This bill amends the Truth in Lending Act to revise points and fees under a high-cost mortgage which currently include all compensation paid directly or indirectly by a consumer or creditor to a mortgage originator from any source, including a mortgage originator that is also the creditor in a table-funded transaction. "Table funding" means a settlement at which a loan is funded by a contemporaneous advance of loan funds and an assignment of the loan to the person advancing the funds. A table-funded transaction is not a transaction in the secondary mortgage. Compensation from any source shall not include any compensation taken into account in settling the mortgage interest rate and for which there is no separate charge to the consumer. Such compensation shall include, however, any other compensation paid directly or indirectly by a consumer or creditor to an individual employed by or contracting with the originator or a mortgage originator.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 3393 on the official United States source →

Action History

  1. Referred to the House Committee on Financial Services.

  2. Introduced in House

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance housing
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Frequently asked questions

What does HR 3393 do?
Mortgage Fairness Act of 2015 This bill amends the Truth in Lending Act to revise points and fees under a high-cost mortgage which currently include all compensation paid directly or indirectly by a consumer or creditor to a mortgage originator from any source, including a mortgage originator that is also the creditor in a table-funded transaction. "Table funding" means a settlement at which a loan is funded by a contemporaneous advance of loan funds and an assignment of the loan to the person advancing the funds. A table-funded transaction is not a transaction in the secondary mortgage. Compensation from any source shall not include any compensation taken into account in settling the mortgage interest rate and for which there is no separate charge to the consumer. Such compensation shall include, however, any other compensation paid directly or indirectly by a consumer or creditor to an individual employed by or contracting with the originator or a mortgage originator.
Who sponsors HR 3393?
HR 3393 is sponsored by Bill Posey (R).
What is the current status of HR 3393?
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 3393?
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