A bill to authorize the Federal Home Loan Bank Board to allow Federal savings and loan associations to issue graduated payment and reverse annuity mortgage instruments.
American Dream Act - Amends the Home Owners' Loan Act of 1933 to authorize Federal savings and loan associations to make and invest in graduated payment mortgages and reverse annuity mortgages. Directs the Federal Home Loan Bank Board to consider consumer safeguards in adopting regulations allowing the making of and investment in such mortgages.
Referred to House Committee on Banking, Finance and Urban Affairs.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
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