US Congress House Bill 1113 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 17-0)
Status: Introduced on February 26 2015 - 25% progression, died in committee
Action: 2015-02-26 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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

Rep. Garland Barr [R-KY]	Rep. Randy Weber [R-TX]	Rep. Randy Neugebauer [R-TX]	Rep. Stephen Fincher [R-TN]
Rep. Robert Dold [R-IL]	Rep. Scott Tipton [R-CO]	Rep. French Hill [R-AR]	Rep. Frank Lucas [R-OK]
Rep. Keith Rothfus [R-PA]	Rep. Blaine Luetkemeyer [R-MO]	Rep. Steve Stivers [R-OH]	Rep. Peter King [R-NY]
Rep. Randy Hultgren [R-IL]	Rep. Sean Duffy [R-WI]	Rep. Marlin Stutzman [R-IN]	Rep. Frank Guinta [R-NH]
Rep. Reid Ribble [R-WI]

Date	Chamber	Action
2015-02-26	House	Referred to the House Committee on Financial Services.
2015-02-26	House	Introduced in House

HB1210 (Related) 2015-11-19 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB1233 (Related) 2015-03-04 - Referred to the House Committee on Financial Services.
HB1389 (Related) 2015-04-08 - Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
SB2995 (Related) 2016-05-26 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1113/all-info
Text	https://www.congress.gov/114/bills/hr1113/BILLS-114hr1113ih.pdf