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house Bill H.R. 1988

Should Veterans’ Refinanced Mortgages Be Protected From ‘Loan Churning’?

Argument in favor

Veterans’ mortgages were intended to be protected from loan churning under the Economic Growth, Regulatory Relief, and Consumer Protection Act last Congress. However, due to a technical error, that bill didn’t achieve that goal -- so this bill is needed to correct that oversight.

Tooluser1's Opinion
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07/08/2019
How about banning loan churning altogether!
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Rebekah 's Opinion
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07/08/2019
Everyone should be protected from predatory for-profit banks whose only goal is to screw working families out of more and more money.
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NoHedges's Opinion
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07/08/2019
Veterans have stated they are tired of being used as a political weapon. So, how about we honor the 14th amendment of equal protection under the law and change the identity focused politics from Veterans only to ALL Americans. This country belongs to all of us, and while Veteran have made the ultimate sacrifice, all Americans rich or poor, black, brown, or white, young or old, AND MILITARY OR NON MILITARY all deserve to be protected from refinanced mortgages ‘loan churning’. Stop pandering for votes thru special privilege legislation and do what is right for all Americans.
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Argument opposed

While the language in the Economic Growth, Regulatory Relief, and Consumer Protection Act bill may be a bit unclear, its intent -- to include veterans in the group of people protected from loan churning -- was clear, so this bill isn’t needed.

burrkitty's Opinion
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07/08/2019
How about protecting EVERYONE from unscrupulous tactics like this?
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Barb's Opinion
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07/08/2019
Why isn’t this illegal for everyone, not just vets??
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Nick-Papagiorgio's Opinion
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07/08/2019
No more than any of the rest of us should be.
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    How about banning loan churning altogether!
    Like (55)
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    How about protecting EVERYONE from unscrupulous tactics like this?
    Like (53)
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    Everyone should be protected from predatory for-profit banks whose only goal is to screw working families out of more and more money.
    Like (22)
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    Not sure I completely understand this. If this bill is to prevent unscrupulous lenders from continuously offering successively “better” refinancing so they can get collect successive processing and refinancing fees from an assured underwriter- then YES; I wholeheartedly support this legislation. If this bill is primarily about saving government costs in handling refinanced properties and in fact limits veterans ability to choose beneficial refinancing when it timely becomes available, then NO; I disagree with this legislation. It is not clear to me from the information provided what the actual motivations for this bill really are- nor the consequences should it be enacted..
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    Veterans have stated they are tired of being used as a political weapon. So, how about we honor the 14th amendment of equal protection under the law and change the identity focused politics from Veterans only to ALL Americans. This country belongs to all of us, and while Veteran have made the ultimate sacrifice, all Americans rich or poor, black, brown, or white, young or old, AND MILITARY OR NON MILITARY all deserve to be protected from refinanced mortgages ‘loan churning’. Stop pandering for votes thru special privilege legislation and do what is right for all Americans.
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    By All Means ..... Heck Yes and Soon........ Veterans’ mortgages were intended to be protected from loan churning under the Economic Growth, Regulatory Relief, and Consumer Protection Act last Congress. However, due to a technical error, that bill didn’t achieve that goal -- so this bill is needed to correct that oversight. SneakyPete...... 👍🏻👍🏻👍🏻👍🏻. 7.8.19.....
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    Well duh! Of course veterans’ loans should be protected from loan churning. However, why aren’t all home buyers being protected?
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    Veteran have stated they are tired of being used as a political weapon. So, how about we honor the 14th amendment of equal protection under the law and change the identity focused politics from Veterans only to ALL Americans. This country belongs to all of us, and while Veteran have made the ultimate sacrifice, all Americans rich or poor, black, brown, or white, young or old, AND MILITARY OR NON MILITARY all deserve to be protected from refinanced mortgages ‘loan churning’. Stop pandering for votes thru special privilege legislation and do what is right for all Americans.
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    Yes to this. Better yet. Make this apply to EVERYONE.
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    If loan churning is bad for veterans then it must also be bad for all of us. Therefore why are the not making loan churning for everybody?
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    Why just protect veterans from this practice? If it’s something people need protection from it should cover everyone.
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    No more than any of the rest of us should be.
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    Veterans seem to be the whipping boys of many financial institutions. If the bill's intent -- to include veterans in the group of people protected from loan churning -- was clear, why is churning still occurring? With this GOP, everything needs to be written down, not subject to their interpretation! YES, we need this bill!
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    Veterans are way cooler. However, this should be for all citizens.
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    ALL mortgages should be protected from this! Again, when did common sense leave the building?
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    America is quick to support the troops, why are 50K homeless Vets on the streets on any given night, 20 per day commit suicide,,, let’s put our money where our mouth is. If we can’t afford it, repeal the tax cut for the rich !
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    This is a good idea but I feel it needs to be applied to Everyone!!!
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    While the language in the Economic Growth, Regulatory Relief, and Consumer Protection Act bill may be a bit unclear, its intent -- to include veterans in the group of people protected from loan churning -- was clear, so this bill isn’t needed. Sounds like a waste of time since it is already covered.
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    Why isn’t this illegal for everyone, not just vets??
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    Yes. This is just another problem of reflecting there are too many people who are terribly greedy and take advantage of people!!
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