To amend the Truth in Lending Act to prohibit mortgage originators from receiving incentive compensation that varies with the terms of a residential mortgage loan and from steering consumers to residential mortgage loans that are not in the consumers' best interest, and for other purposes X.
Mortgage Kickback Prevention Act of 2007 - Amends the Truth in Lending Act to prohibit a mortgage originator from receiving payment of incentive compensation, including yield spread premium, that is based upon, or varies with, the terms of a residential mortgage loan (steering incentive).
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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