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  1. AMENDMENT

    H.Amdt.901   — 110th Congress (2007-2008)

    Description Amendment requires a borrower to receive the option of a mortgage without a prepayment penalty, if they are offered an amendment with a prepayment penalty. Sets the maximum time for a prepayment penalty of 3 years and a maximum prepayment amount of 3% of the loan for the first year, 2% for the second year and 1% for the third year.
    Amends Bill: H.R.3915
    Sponsor: Rep. Maloney, Carolyn B. [D-NY-14] (Offered 11/15/2007)
    Latest Action: 11/15/07 On agreeing to the Maloney (NY) amendment (A004) Agreed to by voice vote.