Senate Bill 540
116th Congress(2019-2020)
Self-Employed Mortgage Access Act of 2019
Introduced
Introduced in Senate on Feb 25, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
540
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No Senate votes have been held for this bill.
Summary
Self-Employed Mortgage Access Act of 2019
This bill allows creditors to use certain alternative standards when evaluating an applicant's ability to pay for purposes of obtaining a home mortgage.
February 25, 2019
02/25/2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
02/25/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 4:32:52 PM