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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Real Estate Transaction Privacy Promotion Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Real Estate Settlement Procedures Act of 1974 to prohibit a lender from requiring a borrower in a residential mortgage transaction to provide the lender with unlimited access to the borrower's tax return information.


Actions Overview (1)

Date
08/04/1998Introduced in House

All Actions (3)

Date
08/05/1998Referred to the Subcommittee on Housing and Community Opportunity.
Action By: Committee on Banking and Financial Services
08/04/1998Referred to the House Committee on Banking and Financial Services.
Action By: House of Representatives
08/04/1998Introduced in House
Action By: House of Representatives

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. McHugh, John M. [R-NY-24] 09/09/1998
Rep. Kilpatrick, Carolyn C. [D-MI-15] 09/14/1998
Rep. Rush, Bobby L. [D-IL-1] 10/07/1998

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Banking and Financial Services08/04/1998 Referred to
House Banking and Financial Services Subcommittee on Housing and Community Opportunity08/05/1998 Referred to

No related bill information was received for H.R.4395.


Latest Summary (1)

There is one summary for H.R.4395. View summaries

Shown Here:
Introduced in House (08/04/1998)

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.