PlainBillCongress, translated.Legislation. Context. Public interest.Committee on Banking. Provisions of measure incorporated into measure S. 1275 ordered to be reported.
Congressional Research Service
Version 00 · Introduced in Senate · May 7, 1993
Home Ownership and Equity Protection Act of 1993 - Amends the Truth in Lending Act to set forth disclosure requirements for high cost mortgages (consumer credit transactions secured by a consumer's principal dwelling) which meet specified criteria with respect to: (1) the annual percentage rate; (2) the consumer's total monthly debt payments; and (3) points and fees which exceed certain limits. Prohibits such mortgages from containing: (1) prepayment penalties; (2) certain refinancing charges payable to the same creditor; (3) balloon payments; (4) negative amortization; and (5) prepaid payments. Imposes a civil penalty for violations of this Act.
People & committees
Sen. Riegle, Donald W., Jr. [D-MI] · D–MI
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Committee on Banking. Provisions of measure incorporated into measure S. 1275 ordered to be reported.
Committee on Banking. Hearings held.
Read twice and referred to the Committee on Banking.
Sponsor introductory remarks on measure. (CR S5709-5710)
Introduced in Senate
Primary sources
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Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
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