Bill > HR1210

Introduced Session

Portfolio Lending and Mortgage Access Act (Sec. 2) This bill amends the Truth in Lending Act to create a safe harbor from lawsuit for creditors that are depository institutions for any failure to comply with certain requirements with respect to a residential mortgage loan, and the banking regulators are required to treat such a loan as a qualified mortgage, if the creditor has, since the loan's origination, held it on its balance sheet and all prepayment penalties with respect to the loan comply with specified limitations. A safe harbor from lawsuit is also created for mortgage originators for steering a consumer to a residential mortgage loan if: the creditor is a depository institution and has informed the mortgage originator that it intends to hold the loan on its balance sheet for the life of the loan, and the mortgage originator informs the consumer that the creditor intends to do so.

Committee Categories

Andy Barr (R)*,  Mark Amodei (R),  Brian Babin (R),  Rod Blum (R),  Susan Brooks (R),  Chris Collins (R),  Kevin Cramer (R),  Carlos Curbelo (R),  Rodney Davis (R),  Robert Dold (R),  Sean Duffy (R),  Tom Emmer (R),  Stephen Fincher (R),  Chuck Fleischmann (R),  Paul Gosar (R),  Frank Guinta (R),  Brett Guthrie (R),  Vicky Hartzler (R),  French Hill (R),  Randy Hultgren (R),  Bill Johnson (R),  Dave Joyce (R),  Peter King (R),  Frank Lucas (R),  Blaine Luetkemeyer (R),  Kenny Marchant (R),  Tom McClintock (R),  Mark Meadows (R),  Luke Messer (R),  Mick Mulvaney (R),  Randy Neugebauer (R),  Kristi Noem (R),  Pete Olson (R),  Stevan Pearce (R),  Robert Pittenger (R),  Ted Poe (R),  Bruce Poliquin (R),  James Renacci (R),  Reid Ribble (R),  Tom Rice (R),  Keith Rothfus (R),  Pete Sessions (R),  Chris Stewart (R),  Steve Stivers (R),  Marlin Stutzman (R),  Scott Tipton (R),  David Valadao (R),  Ann Wagner (R),  Tim Walberg (R),  Randy Weber (R),  Roger Williams (R),  Joe Wilson (R),  David Young (R),  Lee Zeldin (R),  Ryan Zinke (R), 

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 11/19/2015)

Official Document