3.0.0 1113 2023-01-11T13:28:40Z 2023-01-11T13:28:40Z House HR 2015-02-26 114 [Congressional Record Volume 161, Number 33 (Thursday, February 26, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARR:H.R. 1113.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3: ``The Congress shall havepower . . . To regulate commerce with foreign nations, andamong the several states, and with the Indian tribes.''[Page H1371]]]> hsba00 Financial Services Committee House Standing Referred to 2015-02-26T15:06:25Z Portfolio Lending and Mortgage Access Act 114 1210 HR 2015-11-19 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS CLEARR Act of 2015 114 1233 HR 2015-03-04 Referred to the House Committee on Financial Services. Related bill CRS American Jobs and Community Revitalization Act of 2015 114 1389 HR 2015-04-08 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Related bill CRS Portfolio Lending and Mortgage Access Act 114 2995 S 2016-05-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Financial CHOICE Act of 2016 114 5983 HR 2016-12-20 Placed on the Union Calendar, Calendar No. 693. Related bill CRS 2015-02-26 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-02-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-02-26 Introduced in House IntroReferral 1000 9 Library of Congress B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N W000814 Rep. Weber, Randy K., Sr. [R-TX-14] Randy Weber R TX K. 14 2015-02-26 True N000182 Rep. Neugebauer, Randy [R-TX-19] Randy Neugebauer R TX 19 2015-02-26 True F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2015-02-26 True D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2015-02-26 True T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2015-02-26 True H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2015-02-26 True L000491 Rep. Lucas, Frank D. [R-OK-3] FRANK LUCAS R OK D. 3 2015-02-26 True R000598 Rep. Rothfus, Keith J. [R-PA-12] Keith Rothfus R PA J. 12 2015-02-26 True L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2015-02-26 True S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2015-02-26 True K000210 Rep. King, Peter T. [R-NY-2] PETER KING R NY T. 2 2015-02-26 True H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2015-02-26 True D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 2015-02-26 True S001188 Rep. Stutzman, Marlin A. [R-IN-3] Marlin Stutzman R IN A. 3 2015-02-26 True G000570 Rep. Guinta, Frank C. [R-NH-1] Frank Guinta R NH C. 1 2015-02-26 True R000587 Rep. Ribble, Reid J. [R-WI-8] Reid Ribble R WI J. 8 2015-02-26 True Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Civil actions and liability Housing finance and home ownership Finance and Financial Sector 00 2015-02-26 Introduced in House 2015-04-07T14:02:08Z 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 insured 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 an insured 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.
]]> Portfolio Lending and Mortgage Access Act Display Title Portfolio Lending and Mortgage Access Act Official Title as Introduced To amend the Truth in Lending Act to provide a safe harbor from certain requirements related to qualified mortgages for residential mortgage loans held on an originating insured depository institution's portfolio, and for other purposes. Introduced in House IH Short Titles as Introduced Portfolio Lending and Mortgage Access Act Introduced in House 2015-02-26T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1113ih/xml/BILLS-114hr1113ih.xml 2015-02-26 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.