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HR 3296 110th Congress House

Mortgage Broker Transparency and Accountability Act of 2007

Official title: To amend the Truth in Lending Act to establish transparency and accountability requirements for mortgage brokers, and for other purposes.

Introduced: August 1, 2007 Introduced by: Murphy, Christopher Democratic · Connecticut See on congress.gov
Housing and Community Development Affiliated corporationsClaimsCommerceConsumer education
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Consumer protectionFinance and Financial SectorHousing financeMortgage banksMortgage interest ratesProperty insuranceProperty taxRiskSurety and fidelityTaxation
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 11, 2008
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Aug 1, 2007
Referred to the House Committee on Financial Services.
Aug 1, 2007
Introduced in House
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 Latest action January 11, 2008

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Mortgage Broker Transparency and Accountability Act of 2007 – Amends the Truth in Lending Act to establish mandatory responsibilities, duties, and disclosures governing mortgage brokers.

Deems any mortgage broker to have a statutory agency relationship with the consumer subject to all requirements under state or federal law.

Sets forth disclosure requirements, including disclosure of: (1) the risks and benefits of each home mortgage loan product; (2) possible payment increases at the time of any resetting of rate; (3) the extent of any prepayment penalties and balloon payments; and (4) the consumer's responsibilities to pay taxes and insurance with respect to such product.

Requires mortgage brokers to maintain a bond that inures, first, to the benefit of any consumer who has any claim against the mortgage broker under this Act.

Prohibits: (1) mortgage brokers from steering a consumer to a higher-cost mortgage than one for which the consumer would otherwise qualify; and (2) waiver by a consumer of the requirements imposed upon a mortgage broker under this Act.

Requires disclosure of specified affiliations on the part of persons involved in the home mortgage loan process.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 3296: Mortgage Broker Transparency and Accountability Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-HR-3296/
MLA
"H.R. 3296: Mortgage Broker Transparency and Accountability Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-3296/.
Bluebook (legal)
H.R. 3296, 110th Cong. (2026), https://openamerica.io/bill/110-HR-3296/.
Markdown link
[H.R. 3296: Mortgage Broker Transparency and Accountability Act of 2007](https://openamerica.io/bill/110-HR-3296/)
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