PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · Jan 4, 1995
Home Ownership and Equity Protection Act of 1995 - Amends the Truth in Lending Act to require the creditor of each high cost mortgage to provide certain clearly written, conspicuous disclosures regarding the risks associated with such mortgages. Prohibits such mortgages from containing: (1) a prepayment penalty for paying all or part of the principal prior to the date on which such balance is due; (2) certain refinancing fees; (3) balloon payments; (4) negative amortization; and (5) certain prepaid payments. Includes within the creditor's liability for damages for noncompliance with this Act all finance charges and fees paid by the consumer. Empowers the appropriate State attorney general to bring an action to enforce this Act. Subjects an assignee of a high cost mortgage to all the claims and defenses that the consumer could assert against the creditor.
People & committees
Rep. Towns, Edolphus [D-NY-10] · D–NY
Legislative record
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Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Banking and Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
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