11/15/07 4:23 PM
DEBATE - Pursuant to the provisions of H.Res. 825, the Committee of the Whole proceeded with ten minutes of debate on the Frank (MA) amendment.
11/15/07 4:22 PM
An amendment numbered 13 printed in House Report 110-450 to allow regulators to fine mortgage originators, assignees and securitizers who more than occasionally (`pattern or practice') violate the minimum standards for loans established in the bill at least $1 million, $25,000 per loan. Proceeds would be held in trust by the US Treasury for the benefit of borrowers who have no other avenue for obtaining a remedy.
POSTPONED PROCEEDINGS - At the conclusion of debate on the Garrett (NJ) amendment, the Chair put thequestion on adoption of the amendment and by voice vote, annnounced that the noes had prevailed. Mr. Garrett (NJ) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
11/15/07 4:22 PM
Amendment offered by Mr. Frank (MA).
11/15/07 4:10 PM
DEBATE - Pursuant to the provisions of H.Res. 825, the Committee of the Whole proceeded with ten minutes of debate on the Garrett (NJ) amendment.
Amendment offered by Mr. Garrett (NJ).
11/15/07 4:10 PM
An amendment numbered 12 printed in House Report 110-450 to strike the rebuttable presumption under section 203, stating that all qualified safe harbor loans that meet the requirements listed in section 203(c)(3)(C) fall under the safe harbor.
On agreeing to the Brown-Waite, Ginny amendment Agreed to by voice vote.
11/15/07 4:02 PM
DEBATE - Pursuant to the provisions of H.Res. 825, the Committee of the Whole proceeded with ten minutes of debate on the Brown-Waite (FL) amendment.
11/15/07 4:01 PM
Amendment offered by Ms. Brown-Waite, Ginny.
11/15/07 4:01 PM
An amendment numbered 11 printed in House Report 110-450 to exclude loans insured by the Federal Housing Administration from the provisions of the bill.
On agreeing to the Meeks (NY) amendment Agreed to by voice vote.
11/15/07 3:57 PM
An amendment numbered 9 printed in House Report 110-450 to provide that the Nationwide Mortgage Licensing System and Registry shall not directly or indirectly offer educational courses for pre-licensure or continuing education for mortgage originators. In approving courses under this Act, the Nationwide Mortgage Licensing System and Registry shall apply reasonable standards in the review and approval of courses.
11/15/07 3:57 PM
DEBATE - Pursuant to the provisions of H.Res. 825, the Committee of the Whole proceeded with ten minutes of debate on the Meeks (NY) amendment.
Amendment offered by Mr. Meeks (NY).
