An amendment numbered 17 printed in House Report 110-450 to require that in the case of a residential mortgage loan, closing costs may not exceed by more than 10% any estimate of closing costs disclosed to the consumer in advance of closing.
What it does: Inserts new text on page 71, line 5
Rep. Chris Van Hollen (D-MD)What it changes
1 change to H.R. 3915
We couldn't read part of this amendment. That part is shown as written below.
Inserts new text on page 71, line 5
InsertsPrinted pageInserted: (m) Closing Costs.--In the case of a residential mortgage loan, any costs incurred in connection with the consummation of the loan may not exceed by more than 10 percent the estimate of the amount of such costs disclosed to the consumer in advance of the consummation of the loan.
Original wording
Page 71, after line 5, insert the following new subsection:
Shown as written
Page 71, line 5, strike the closing quotation marks and the second period.
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
Page 71, line 5, strike the closing quotation marks and the second period.
Page 71, after line 5, insert the following new subsection:
“(m) Closing Costs.--In the case of a residential mortgage loan, any costs incurred in connection with the consummation of the loan may not exceed by more than 10 percent the estimate of the amount of such costs disclosed to the consumer in advance of the consummation of the loan.”.
Legislative Activity
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House amendment offered
November 15, 2007
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House amendment offered
November 15, 2007
House amendment offered/reported by : Amendment (A018) offered by Mr. Van Hollen.(consideration: CR H14030-14031; text: CR H14031)
November 15, 2007 • 4:48 PM
Amendment (A018) offered by Mr. Van Hollen. (consideration: CR H14030-14031; text: CR H14031)
November 15, 2007 • 4:48 PM
By unanimous consent, the Van Hollen amendment was withdrawn.
November 15, 2007 • 4:52 PM