123STA T . 1 658PUBLIC LA W 111 – 22 —M A Y 2 0, 200 9(2)funde d byacom b i na t ion of ca sh o r e q uity from p ri v ate investors and funds provided by the S ecretary of the T reasury or funds appropriated under the E mer g ency Economic Stabi l i z a - tion A ctof2 0 0 8. (f) OF F SETO F C OSTS OF PR O G R AM C H A N GES. —N ot w ithstanding the amendment made by section 202(b) of this Act , paragraph ( 3 ) of section 1 1 5 (a) of the Emergency Economic Stabilization Act of 2008 (12 U .S.C. 5225) is amended by inserting ‘ ‘, as such amount is reduced by $ 1,25 9 ,000,000, ’ ’ after ‘‘$ 7 00,000,000,000’’. (g) R EG UL AT I ONS.—The Secretary of the Treasury may prescribe such regulations or other guidance as may be necessary or appro- priate to define terms or carry out the authorities or purposes of this section. SEC.403 . R E MOVAL O F RE QUI REME NT TO LIQUI D ATE W ARRANTS UNDER T H E TAR P . Section 111(g) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5221(g)) is amended by stri k ing ‘‘shall liquidate warrants associated with such assistance at the current market price’’ and inserting ‘‘, at the market price, may liquidate warrants associated with such assistance’’. SEC. 404. NOTIFICATION OF SALE OR TRANSFER OF MORT G AGE LOANS. (a) I N G ENERAL.—Section 131 of the Truth in L ending Act (15 U.S.C. 1 64 1) is amended by adding at the end the following
‘‘(g) NOTI C EOFNE W CRE D ITOR.— ‘‘(1) IN GENERAL.—In addition to other disclosures required by this title, not later than 30 days after the date on which a mortgage loan is sold or otherwise transferred or assigned to a third party, the creditor that is the new owner or assignee of the debt shall notify the borrower in writing of such transfer, including— ‘‘(A) the identity, address, telephone number of the new creditor
‘‘( B ) the date of transfer; ‘‘(C) how to reach an agent or party having authority to act on behalf of the new creditor; ‘‘( D ) the location of the place where transfer of owner- ship of the debt is recorded; and ‘‘(E) any other relevant information regarding the new creditor. ‘‘(2) DEFINITION.—As used in this subsection, the term ‘mortgage loan’ means any consumer credit transaction that is secured by the principal dwelling of a consumer.’’. (b) PRI V ATE RIGHT OF ACTION.—Section 130(a) of the Truth in Lending Act (15 U.S.C. 1640(a)) is amended by inserting ‘‘sub- section (f) or (g) of section 131,’’ after ‘‘section 125,’’. TI T LEV—FARM L O A N RE S TR UC TURIN G SEC. 5 0 1 . CONGRESSIONAL OVERSIGHT PANEL SPECIAL REPORT. Section 125(b) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5233(b)) is amended by adding at the end the following: Deadlin e .
