[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2673 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 2673

To amend the Truth in Lending Act to provide that residential mortgage 
loans held on portfolio qualify as qualified mortgages for purposes of 
  the presumption of the ability to repay requirements under such Act.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 11, 2013

   Mr. Barr introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Truth in Lending Act to provide that residential mortgage 
loans held on portfolio qualify as qualified mortgages for purposes of 
  the presumption of the ability to repay requirements under such Act.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Portfolio Lending and Mortgage 
Access Act''.

SEC. 2. LOANS HELD ON PORTFOLIO TREATED AS QUALIFIED MORTGAGES.

    Section 129C(b)(2) of the Truth in Lending Act (15 U.S.C. 
1639c(b)(2)) is amended by adding at the end the following:
                    ``(F) Loans held on portfolio.--The term `qualified 
                mortgage' includes a residential mortgage loan made by 
                a creditor so long as such loan appears on the balance 
                sheet of such creditor.''.
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