3.0.0 1210 2023-01-11T13:28:14Z 2023-01-11T13:28:14Z House HR 2015-03-03 114 [Congressional Record Volume 161, Number 36 (Tuesday, March 3, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARR:H.R. 1210.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 H1566]]]> ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2015-11-19T17:33:52Z Hearings by 2015-04-16T21:04:22Z hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Hearings by 2015-06-11T14:08:27Z Reported by 2015-11-16T19:35:43Z Markup by 2015-07-29T13:14:11Z Referred to 2015-03-03T15:00:42Z H. Rept. 114-330 CLEARR Act of 2015 114 1233 HR 2015-03-04 Referred to the House Committee on Financial Services. Related bill CRS Portfolio Lending and Mortgage Access Act 114 1113 HR 2015-02-26 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 Providing for consideration of the bill (H.R. 1210) 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 depository institution's portfolio, and for other purposes; providing for consideration of the bill (H.R 3189) to amend the Federal Reserve Act to establish requirements for policy rules and blackout periods of the Federal Open Market Committee, to establish requirements for certain activities of the Board of Governors of the Federal Reserve System, and to amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited, and for other purposes; and providing for proceedings during the period from November 20, 2015, through November 27, 2015. 114 529 HRES 2015-11-18 Motion to reconsider laid on the table Agreed to without objection. 13:42:24 Related bill House Procedurally-related House 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. Identical bill House Financial CHOICE Act of 2016 114 5983 HR 2016-12-20 Placed on the Union Calendar, Calendar No. 693. Related bill CRS 2015-11-19 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2015-11-18 17:15:29 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2015-11-18 17:15:28 On passage Passed by the Yeas and Nays: 255 - 174 (Roll no. 636). (text: CR H8312) Floor H37100 2 House floor actions 636 https://clerk.house.gov/evs/2015/roll636.xml House 114 2015-11-18T22:15:28Z 1 2015-11-18 17:15:28 Passed/agreed to in House: On passage Passed by the Yeas and Nays: 255 - 174 (Roll no. 636).(text: CR H8312) Floor 8000 9 Library of Congress 636 https://clerk.house.gov/evs/2015/roll636.xml House 114 2015-11-18T22:15:28Z 1 2015-11-18 17:08:24 On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 242 (Roll no. 635). Floor H36110 2 House floor actions hsba00 Financial Services Committee 635 https://clerk.house.gov/evs/2015/roll635.xml House 114 2015-11-18T22:08:24Z 1 2015-11-18 16:38:48 The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H8320) Floor H8A000 2 House floor actions 2015-11-18 16:31:44 DEBATE - The House proceeded with 10 minutes of debate on the Thompson (CA) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment pending a reservation of a point of order. Subsequently, the reservation was removed. The amendment retains features of the Qualified Mortgage rule with respect to consumers who are veterans and members of the Armed Forces. Floor H8D000 2 House floor actions 2015-11-18 16:31:29 Mr. Thompson (CA) moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H8319-8321; text: CR H8319) Floor H36100 2 House floor actions hsba00 Financial Services Committee 2015-11-18 16:30:54 The previous question was ordered pursuant to the rule. (consideration: CR H8319) Floor H35000 2 House floor actions 2015-11-18 15:23:52 DEBATE - Pursuant to the provisions of H. Res. 529, the House proceeded with one hour of general debate on H.R. 1210. Floor H8D000 2 House floor actions 2015-11-18 15:23:32 Considered under the provisions of rule H. Res. 529. (consideration: CR H8311-8322) Floor H30000 2 House floor actions 2015-11-17 17:41:22 Rules Committee Resolution H. Res. 529 Reported to House. Rule provides for consideration of H.R. 1210 and H.R. 3189. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Rule provides that H.R. 1210 shall be amended by the text of Rules Committee Print 114-34 and that the amendment printed in part A of the report from the Committee on Rules shall be separately debatable for 10 minutes. H.R. 3189 shall be amended by the text of Rules Committee Print 114-35 and modified by the amendment printed in Part B of the report. No further amendments other than those printed in Part C of the report shall be in order for H.R. 3189. Floor H1L210 2 House floor actions 2015-11-16 Placed on the Union Calendar, Calendar No. 251. Calendars H12410 2 House floor actions U00251 2015-11-16 Reported by the Committee on Financial Services. H. Rept. 114-330. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2015-11-16 Reported by the Committee on Financial Services. H. Rept. 114-330. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2015-07-29 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported by the Yeas and Nays: 38 - 18. Committee 2015-07-29 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2015-07-28 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2015-06-11 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. Committee 2015-04-16 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2015-03-03 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-03-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-03-03 Introduced in House IntroReferral 1000 9 Library of Congress B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N A000369 Rep. Amodei, Mark E. [R-NV-2] Mark Amodei R NV E. 2 2015-03-03 True B001294 Rep. Blum, Rod [R-IA-1] Rod Blum R IA 1 2015-03-03 True D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2015-03-03 True D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 2015-03-03 True F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2015-03-03 True G000570 Rep. Guinta, Frank C. [R-NH-1] Frank Guinta R NH C. 1 2015-03-03 True H001053 Rep. Hartzler, Vicky [R-MO-4] Vicky Hartzler R MO 4 2015-03-03 True H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2015-03-03 True H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2015-03-03 True J000295 Rep. Joyce, David P. [R-OH-14] David Joyce R OH P. 14 2015-03-03 True K000210 Rep. King, Peter T. [R-NY-2] PETER KING R NY T. 2 2015-03-03 True L000491 Rep. Lucas, Frank D. [R-OK-3] FRANK LUCAS R OK D. 3 2015-03-03 True L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2015-03-03 True M001189 Rep. Messer, Luke [R-IN-6] Luke Messer R IN 6 2015-03-03 True M001182 Rep. Mulvaney, Mick [R-SC-5] Mick Mulvaney R SC 5 2015-03-03 True N000182 Rep. Neugebauer, Randy [R-TX-19] Randy Neugebauer R TX 19 2015-03-03 True R000586 Rep. Renacci, James B. [R-OH-16] James Renacci R OH B. 16 2015-03-03 True R000587 Rep. Ribble, Reid J. [R-WI-8] Reid Ribble R WI J. 8 2015-03-03 True R000598 Rep. Rothfus, Keith J. [R-PA-12] Keith Rothfus R PA J. 12 2015-03-03 True S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2015-03-03 True S001188 Rep. Stutzman, Marlin A. [R-IN-3] Marlin Stutzman R IN A. 3 2015-03-03 True T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2015-03-03 True W000814 Rep. Weber, Randy K., Sr. [R-TX-14] Randy Weber R TX K. 14 2015-03-03 True E000294 Rep. Emmer, Tom [R-MN-6] Tom Emmer R MN 6 2015-03-03 True M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2015-03-04 False R000597 Rep. Rice, Tom [R-SC-7] Tom Rice R SC 7 2015-03-04 False Z000018 Rep. Zinke, Ryan K. [R-MT-At Large] Ryan Zinke R MT K. 0 2015-03-16 False V000129 Rep. Valadao, David G. [R-CA-21] David Valadao R CA G. 21 2015-03-16 False M001187 Rep. Meadows, Mark [R-NC-11] Mark Meadows R NC 11 2015-03-16 False M001177 Rep. McClintock, Tom [R-CA-4] Tom McClintock R CA 4 2015-03-16 False W000798 Rep. Walberg, Tim [R-MI-7] Tim Walberg R MI 7 2015-03-16 False W000812 Rep. Wagner, Ann [R-MO-2] Ann Wagner R MO 2 2015-03-16 False P000611 Rep. Poliquin, Bruce [R-ME-2] Bruce Poliquin R ME 2 2015-03-19 False Y000066 Rep. Young, David [R-IA-3] David Young R IA 3 2015-03-19 False P000592 Rep. Poe, Ted [R-TX-2] Ted Poe R TX 2 2015-03-24 False G000558 Rep. Guthrie, Brett [R-KY-2] Brett Guthrie R KY 2 2015-03-24 False F000459 Rep. Fleischmann, Charles J. "Chuck" [R-TN-3] Charles Fleischmann R TN J. "Chuck" 3 2015-03-25 False B001284 Rep. Brooks, Susan W. [R-IN-5] Susan Brooks R IN W. 5 2015-03-25 False O000168 Rep. Olson, Pete [R-TX-22] Pete Olson R TX 22 2015-03-25 False D000619 Rep. Davis, Rodney [R-IL-13] Rodney Davis R IL 13 2015-04-13 False C001107 Rep. Curbelo, Carlos [R-FL-26] Carlos Curbelo R FL 26 2015-04-14 False W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2015-04-14 False P000588 Rep. Pearce, Stevan [R-NM-2] Stevan Pearce R NM 2 2015-04-14 False C001092 Rep. Collins, Chris [R-NY-27] Chris Collins R NY 27 2015-04-14 False J000292 Rep. Johnson, Bill [R-OH-6] Bill Johnson R OH 6 2015-04-21 False N000184 Rep. Noem, Kristi L. [R-SD-At Large] Kristi Noem R SD L. 0 2015-04-21 False S001192 Rep. Stewart, Chris [R-UT-2] Chris Stewart R UT 2 2015-05-01 False S000250 Rep. Sessions, Pete [R-TX-32] PETE SESSIONS R TX 32 2015-05-13 False C001096 Rep. Cramer, Kevin [R-ND-At Large] Kevin Cramer R ND 0 2015-05-13 False Z000017 Rep. Zeldin, Lee M. [R-NY-1] Lee Zeldin R NY M. 1 2015-05-13 False B001291 Rep. Babin, Brian [R-TX-36] Brian Babin R TX 36 2015-05-13 False G000565 Rep. Gosar, Paul A. [R-AZ-4] Paul Gosar R AZ A. 4 2015-06-01 False P000606 Rep. Pittenger, Robert [R-NC-9] Robert Pittenger R NC 9 2015-07-28 False W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2015-07-28 False 2015-09-29T21:41:59Z H.R. 1210, Portfolio Lending and Mortgage Access Act https://www.cbo.gov/publication/50856 As ordered reported by the House Committee on Financial Services on July 29, 2015 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 2015-03-03 Introduced in House 2015-04-07T14:02:52Z 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.
]]> 36 2015-11-18 Passed House amended 2016-08-29T21:57:28Z 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.
]]> 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 depository institution's portfolio, and for other purposes. Introduced in House IH Short Titles as Introduced Portfolio Lending and Mortgage Access Act Short Titles as Reported to House Portfolio Lending and Mortgage Access Act H House Short Titles as Passed House Portfolio Lending and Mortgage Access Act H House 833 114 HAMDT An amendment made in order as original text consisting of the text of Rules Committee print 114-35, modified by the amendment printed in part B of House Report 114-341. An amendment made in order as original text consisting of the text of Rules Committee print 114-35, modified by the amendment printed in part B of House Report 114-341. 2020-12-15T18:06:31Z Rules Committee 2015-11-18T05:00:00Z House of Representatives 114 HR House H 1210 Portfolio Lending and Mortgage Access Act 2023-01-11T13:28:14Z Committee print 114-35 https://www.congress.gov/committee-print/114th-congress/house-committee-print/97501 House Report 114-341 https://www.congress.gov/congressional-report/114th-congress/house-report/341 2 2015-11-18 House amendment offered Floor 71000 9 Library of Congress Referred in Senate 2015-11-19T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1210rfs/xml/BILLS-114hr1210rfs.xml Engrossed in House 2015-11-18T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1210eh/xml/BILLS-114hr1210eh.xml Reported in House 2015-11-16T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1210rh/xml/BILLS-114hr1210rh.xml Introduced in House 2015-03-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1210ih/xml/BILLS-114hr1210ih.xml 2015-11-19 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.