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Simplifying Mortgage Loan Reporting for Small Banks

This act changes mortgage loan data reporting rules. Small financial institutions with assets of $30 million or less will be exempt from certain reporting requirements. This means less bureaucracy for smaller lenders, potentially affecting loan availability in smaller communities.
Key points
Smaller banks and financial institutions (with assets up to $30 million) will no longer need to report certain mortgage loan details.
This change aims to reduce administrative burdens for small lenders, potentially making it easier for them to operate.
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Expired
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Additional Information
Print number: 117_HR_2069
Sponsor: Rep. Velazquez, Nydia M. [D-NY-7]
Process start date: 2021-03-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Home Loan Quality Transparency Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2069.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-18.

What are the main provisions?

Key points include:

  • Smaller banks and financial institutions (with assets up to $30 million) will no longer need to report certain mortgage loan details.
  • This change aims to reduce administrative burdens for small lenders, potentially making it easier for them to operate.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Velazquez, Nydia M. [D-NY-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Real Estate Economy