3.0.0 1731 2019-11-15T20:54:27Z 2019-11-15T20:54:27Z House H HR 2009-03-26 111 hsba00 Financial Services Committee House Standing Referred to 2009-03-26T14:01:42Z 2009-03-26 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-03-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-03-26 Introduced in House IntroReferral 1000 9 Library of Congress M001175 Rep. Minnick, Walter [D-ID-1] Walter Minnick D ID 1 N S001171 Rep. Shuler, Heath [D-NC-11] Heath Shuler D NC 11 2009-03-30 False Finance and Financial Sector Administrative law and regulatory procedures Credit and credit markets Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Housing finance and home ownership Finance and Financial Sector 00 2009-03-26 Introduced in House 2009-05-08T21:06:15Z Credit Risk Retention Act of 2009 - Amends the Truth in Lending Act to require the federal banking agencies to prescribe specified regulations jointly to require any creditor that makes a residential mortgage loan that is not a qualified mortgage (as defined by such agencies) to retain an economic interest in a material portion of the credit risk for any such loan that the creditor transfers, sells, or conveys to a third party.

Requires the standards governing such regulations to: (1) apply only to residential mortgage loans that are not qualified mortgages; (2) prohibit creditors from directly or indirectly hedging or otherwise transferring the credit risk they are required to retain under the regulations with respect to any residential mortgage loan; and (3) requiring creditors to retain at least 5% percent of the credit risk on any non-qualified mortgage that is transferred, sold, or conveyed.

]]> Credit Risk Retention Act of 2009 Short Titles as Introduced Credit Risk Retention Act of 2009 Display Title Credit Risk Retention Act of 2009 Official Title as Introduced To amend the Truth in Lending Act to require any creditor who transfers, sells, or conveys certain residential mortgage loans to third parties to retain an economic interest in a material portion of the credit risk for any such loan, and for other purposes. Introduced in House 2009-03-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr1731ih/xml/BILLS-111hr1731ih.xml 2009-03-26 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.