PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Oct 3, 2008
Mortgage Credit Repair Act of 2008 - Amends the Fair Credit Reporting Act to define "front end ratio" as a ratio that indicates what portion of an individual's income is used to make mortgage payments, calculated by dividing an individual's gross monthly income by their housing expenses, particularly the mortgage principal, interest, taxes, and insurance (PITI).
Prohibits a consumer reporting agency from making a consumer report containing cases under title 11 or under the Bankruptcy Act that antedate the report by more than three years when certain criteria are met. Includes among such criteria that a consumer's front-end debt ratio on a mortgage instrument originated or refinanced on or after January 1, 2003, was 37% or higher for at least six months before and continuing through the time that the bankruptcy is filed.
Prohibits a consumer reporting agency from making a consumer report containing any adverse information excluding bankruptcy, but including closed accounts, amounts in collections, accounts charged to profit or loss, repossessions, and foreclosures, if certain circumstances have occurred.
People & committees
Rep. Meek, Kendrick B. [D-FL-17] · D–FL
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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