HR 1210 · 114th Congress · Finance and Financial Sector
Portfolio Lending and Mortgage Access Act
Bill Progress
1
Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2015-11-19)
Recorded Votes
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Plain Language Summary
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Portfolio Lending and Mortgage Access Act 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.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 1210, Portfolio Lending and Mortgage Access Act
Sep 29, 2015As ordered reported by the House Committee on Financial Services on July 29, 2015
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (20)
20 Republicans