HR 2226 · 115th Congress · Finance and Financial Sector
Portfolio Lending and Mortgage Access Act
Bill Progress
✓
Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2018-03-07)
Plain Language Summary
[AI summary unavailable — showing source text]
Portfolio Lending and Mortgage Access Act This bill amends the Truth in Lending Act to modify provisions related to residential mortgage loans. In general, a creditor that is a depository institution shall not be subject to suit for violating specified ability-to-pay requirements with respect to a residential mortgage loan if: (1) the creditor has consistently held the loan on its balance sheet, and (2) prepayment penalties associated with the loan comply with specified limitations. Similarly, a mortgage originator shall not be subject to suit for such a violation if: (1) the creditor is a depository institution; and (2) the creditor informs the mortgage originator, which informs the consumer, that the creditor intends to hold the loan on its balance sheet for the life of the loan.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 2226, Portfolio Lending and Mortgage Access Act
Feb 9, 2018As ordered reported by the House Committee on Financial Services on January 18, 2018
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (20)
20 Republicans