Home Equity Lending Integrity Act amends the Truth in Lending Act to include home equity investment loans in the definition of residential mortgage.
The Home Equity Lending Integrity Act amends the Truth in Lending Act to include home equity investment loans in the definition of residential mortgage loans. This change ensures that such loans are subject to the same disclosure requirements as other residential mortgage loans. The Bureau of Consumer Financial Protection will issue regulations to enforce these requirements. The bill clarifies that this amendment does not substantively change the administration of the Truth in Lending Act.
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- Critical Issues
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