As of 05/30/2015 the description for this amendment has not been received.

Purpose:

An amendment numbered 13 printed in House Report 110-450 to allow regulators to fine mortgage originators, assignees and securitizers who more than occasionally (`pattern or practice') violate the minimum standards for loans established in the bill at least $1 million, $25,000 per loan. Proceeds would be held in trust by the US Treasury for the benefit of borrowers who have no other avenue for obtaining a remedy.

House Amendment Code:

(A015)

House Tally Clerks use this code to manage amendment information.