US HB1529 | 2015-2016 | 114th Congress
Status
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on March 23 2015 - 25% progression, died in chamber
Action: 2015-04-06 - Placed on the Union Calendar, Calendar No. 38.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 23 2015 - 25% progression, died in chamber
Action: 2015-04-06 - Placed on the Union Calendar, Calendar No. 38.
Text: Latest bill text (Introduced) [PDF]
Summary
Community Institution Mortgage Relief Act of 2015 (Sec. 2) This bill amends the Truth in Lending Act to create a safe harbor from requirements for an escrow or impound account for the payment of taxes and hazard insurance in the case of mortgage loans made by a creditor with consolidated assets of $10 billion or less that holds the loan on its balance sheet for three years after its origination. A creditor shall be deemed to have complied with the three-year balance sheet requirement if it transfers a loan by reason of its bankruptcy or failure, the purchase of it by another, or by a supervisory act or recommendation from a state or federal regulator. The Consumer Financial Protection Bureau is required to exempt mortgage servicers that service 20,000 or fewer mortgage loans from requirements of the Real Estate Settlement Procedures Act of 1974 pertaining to the servicing of mortgage loans and administration of escrow accounts.
Title
Community Institution Mortgage Relief Act of 2015
Sponsors
| Rep. Brad Sherman [D-CA] | Rep. Blaine Luetkemeyer [R-MO] | Rep. Bill Posey [R-FL] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-04-06 | House | Placed on the Union Calendar, Calendar No. 38. |
| 2015-04-06 | House | Reported by the Committee on Financial Services. H. Rept. 114-57. |
| 2015-03-26 | House | Ordered to be Reported by the Yeas and Nays: 48 - 10. |
| 2015-03-26 | House | Committee Consideration and Mark-up Session Held. |
| 2015-03-25 | House | Committee Consideration and Mark-up Session Held. |
| 2015-03-23 | House | Referred to the House Committee on Financial Services. |
| 2015-03-23 | House | Introduced in House |
Same As/Similar To
HB1233 (Related) 2015-03-04 - Referred to the House Committee on Financial Services.
Subjects
Administrative law and regulatory procedures
Banking and financial institutions regulation
Consumer credit
Consumer Financial Protection Bureau
Finance and financial sector
Housing finance and home ownership
Banking and financial institutions regulation
Consumer credit
Consumer Financial Protection Bureau
Finance and financial sector
Housing finance and home ownership
