PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Jul 29, 2010
Anti-Redlining and Anti-Mortgage Fraud Act of 2010 - Makes it unlawful for any person or entity to extend credit, provide funds, or collect any payments in connection with an extension of credit secured by a single-family residence unless the originator has recorded the credit application with the clearinghouse established under this Act.
Directs the Secretary of the Treasury, acting through the Director of the Financial Crimes Enforcement Network (FinCEN) of the Department of the Treasury, to: (1) establish a mortgage application recordation system which includes a clearinghouse, managed by a private sector entity, to record single-family residence mortgage applications; and (2) require mortgage originators to record such credit applications with the clearinghouse.
Prescribes criteria for the clearinghouse operator, which shall bear all clearinghouse costs.
Showing the opening paragraphs of the official summary.
Authorizes the Secretary to guarantee repayment of principal and interest on a loan to the clearinghouse operator sufficient to cover clearinghouse costs.
Requires the clearinghouse to collect information using an Internet-based electronic system. Makes all information collected by the clearinghouse is property of the Secretary.
People & committees
Rep. Towns, Edolphus [D-NY-10] · D–NY
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
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Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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