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H.R. 607 105th Congress House

Homeowners Insurance Protection Act

Official title: An Act to amend the National Housing Act to prevent the funding of unnecessary or excessive costs for obtaining a home equity conversion mortgage, to require a… Show full official titleShow less

Official title: An Act to amend the National Housing Act to prevent the funding of unnecessary or excessive costs for obtaining a home equity conversion mortgage, to require automatic cancellation and notice of cancellation rights with respect to private mortgage insurance required as a condition for entering into a residential mortagage transaction, to abolish the Thrift Depositor Protection Oversight Board, and for other purposes.

Introduced: March 11, 1997 See on congress.gov
Finance and Financial Sector Administrative procedureAffordable housingApartment housesAuthorization
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Bank failuresBlock grantsBoundariesChild developmentCivil Rights and Liberties, Minority IssuesColoniasCommerceConsumer educationCrime and Law EnforcementDebtor and creditorDepartment of Housing and Urban DevelopmentDepartment of the TreasuryDisabledDrug abuseDrug abuse preventionDrug law enforcementDrug trafficEconomics and Public FinanceEmergency ManagementEnvironmental ProtectionEnvironmental assessmentEstate planningExecutive reorganizationFamiliesFederal advisory bodiesFederal aid to IndiansFederal aid to day care centersFederal aid to housingFederal preemptionFederal-local relationsFederally-guaranteed loansFeesFinancial statementsFlood insuranceGovernment Operations and PoliticsGovernment corporationsGovernment paperworkHome equity conversionHome ownershipHousing and Community DevelopmentHousing discriminationHousing for the agedHousing for the disabledIndian childrenIndian housingInsurance premiumsLandlord and tenantLawLiability (Law)Local taxationLow-income housingMinoritiesMortgage guaranty insuranceMortgage interest ratesMortgage loansMortgagesProperty taxPublic housingPunitive damagesReal property taxRentRent subsidiesRental housingResidential rehabilitationResolution Funding CorporationRural housingSavings and loan associationsSettlement costsSocial WelfareState lawsState taxationTax exemptionTaxationThrift Depositor Protection Oversight BoardWater Resources Development
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 24 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 27, 1998
Message on Senate action sent to the House.
Nov 13, 1997
Passed Senate with an amendment and an amendment to the Title by Unanimous Consent.
Nov 13, 1997
Passed/agreed to in Senate: Passed Senate with an amendment and an amendment to the Title by Unanimous Consent.
Nov 13, 1997
Amendment SP 1637 agreed to in Senate by Unanimous Consent.
Nov 13, 1997
Amendment SP 1637 proposed by Senator Lott for Senator D'Amato.
Nov 13, 1997
Measure laid before Senate by unanimous consent. (consideration: CR S12681)
Apr 17, 1997
Received in the Senate, read twice.
Apr 16, 1997
The title of the measure was amended. Agreed to without objection.
Apr 16, 1997
Motion to reconsider laid on the table Agreed to without objection.
Apr 16, 1997
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 421 - 7 (Roll no. 80).
Apr 16, 1997
Considered as unfinished business.
Apr 16, 1997
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the Chair announced that further proceedings on the motion would be postponed.
Apr 16, 1997
DEBATE - The House proceeded with forty minutes of debate.
Apr 16, 1997
Considered under suspension of the rules. (consideration: CR H1557-1566, H1581-1582)
Apr 16, 1997
Mr. Leach moved to suspend the rules and pass the bill, as amended.
Apr 16, 1997
Placed on the Union Calendar, Calendar No. 39.
Apr 16, 1997
Reported (Amended) by the Committee on Banking and Financial Services. H. Rept. 105-55.
Mar 20, 1997
Ordered to be Reported (Amended) by the Yeas and Nays: 36 - 1.
Mar 20, 1997
Committee Consideration and Mark-up Session Held.
Mar 18, 1997
Committee Hearings Held.
Feb 28, 1997
Referred to the Subcommittee on Housing and Community Opportunity.
Feb 14, 1997
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Feb 5, 1997
Referred to the House Committee on Banking and Financial Services.
Feb 5, 1997
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Apr 16, 1997 House · vote #80 Suspend the rules and pass, as amended Passed 421–7 See who voted →
 Amendments to this bill 1

Amendments propose changes to this bill. Members vote on amendments separately before the final bill vote. An agreed amendment becomes part of the bill; a failed amendment does not.

1 agreed to

AmendmentSponsorPurposeStatusLatest action
SAMDT 1,637 – In the nature of a substitute. Agreed to Nov 13, 1997
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 Latest action January 27, 1998

Message on Senate action sent to the House.

 Plain-English summary Congressional Research Service

Homeowners Insurance Protection Act - Amends the Truth in Lending Act to require a creditor to provide free, specified written disclosures about cancellation rights for private mortgage insurance if a consumer is required to obtain such insurance as a condition for entering into a residential mortgage transaction.

Imposes civil liability in the amount of treble damages for noncompliance with such disclosure requirements.

 Related & companion bills 1
  • S 318 Homeowners Protection Act of 1998
 Bill text 5 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 5
All 5 Democratic 1 Republican 2
D
Norton, Eleanor Holmes
District of Columbia · Mar 11, 1997
 R
Sessions, Pete
Texas · Mar 11, 1997
Faleomavaega, Eni
· Feb 27, 1997
 R
Calvert, Ken
California · Feb 5, 1997
FROST, MARTIN
· Feb 5, 1997
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APA
U.S. Congress. (2026). H.R. 607: An Act to amend the National Housing Act to prevent the funding of unnecessary or excessive costs for obtaining a home equity conversion mortgage, to require automatic cancellation and notice of cancellation rights with respect to private mortgage insurance required as a condition for entering into a residential mortagage transaction, to abolish the Thrift Depositor Protection Oversight Board, and for other purposes.. 105th Congress. Open America. https://openamerica.io/bill/105-HR-607/
MLA
"H.R. 607: An Act to amend the National Housing Act to prevent the funding of unnecessary or excessive costs for obtaining a home equity conversion mortgage, to require automatic cancellation and notice of cancellation rights with respect to private mortgage insurance required as a condition for entering into a residential mortagage transaction, to abolish the Thrift Depositor Protection Oversight Board, and for other purposes.." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-607/.
Bluebook (legal)
H.R. 607, 105th Cong. (2026), https://openamerica.io/bill/105-HR-607/.
Markdown link
[H.R. 607: An Act to amend the National Housing Act to prevent the funding of unnecessary or excessive costs for obtaining a home equity conversion mortgage, to require automatic cancellation and notice of cancellation rights with respect to private mortgage insurance required as a condition for entering into a residential mortagage transaction, to abolish the Thrift Depositor Protection Oversight Board, and for other purposes.](https://openamerica.io/bill/105-HR-607/)
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