US HB3971 | 2017-2018 | 115th Congress

Status

Spectrum: Bipartisan Bill
Status: Engrossed on December 13 2017 - 50% progression
Action: 2017-12-13 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Engrossed) [PDF]

Summary

Community Institution Mortgage Relief Act of 2017 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 $25 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 30,000 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.

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Community Institution Mortgage Relief Act of 2017

Sponsors


Roll Calls

2017-12-12 - House - On Motion to Recommit with Instructions (Y: 190 N: 233 NV: 8 Abs: 0) [FAIL]
2017-12-12 - House - On Passage (Y: 294 N: 129 NV: 8 Abs: 0) [PASS]

History

DateChamberAction
2017-12-13SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2017-12-12HouseMotion to reconsider laid on the table Agreed to without objection.
2017-12-12HouseOn passage Passed by the Yeas and Nays: 294 - 129 (Roll no. 675). (text: CR H9799)
2017-12-12HouseOn motion to recommit with instructions Failed by the Yeas and Nays: 190 - 233 (Roll no. 674).
2017-12-12HouseConsidered as unfinished business. (consideration: CR H9828-9830)
2017-12-12HousePOSTPONED PROCEEDINGS - At the conclusion of debate on the Titus motion to recommit, the Chair put the question on passage of the motion to recommit, and by voice vote announced that the noes had prevailed. Ms. Titus demanded the yeas and nays and the Chair postponed further proceedings on the motion to recommit until later in the legislative day.
2017-12-12HouseThe previous question on the motion to recommit with instructions was ordered without objection.
2017-12-12HouseDEBATE - The House proceeded with 10 minutes of debate on the Titus 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 adding a new section pertaining to Protecting Consumers from Excessive Housing Costs and Predatory Lenders.
2017-12-12HouseMs. Titus moved to recommit with instructions to the Committee on Financial Services. (text: CR H9807)
2017-12-12HouseH.Amdt.497 On agreeing to the Sherman amendment (A002) Agreed to by voice vote.
2017-12-12HouseH.Amdt.497 The previous question was ordered on the amendment and the bill pursuant to the rule.
2017-12-12HouseDEBATE - Pursuant to the provisions of H.Res. 647, the House proceeded with 10 minutes of debate on the Sherman amendment No. 1.
2017-12-12HouseH.Amdt.497 Amendment (A002) offered by Mr. Sherman. (consideration: CR H9806-9807; text: CR H9806)
2017-12-12HouseDEBATE - The House proceeded with one hour of debate on H.R. 3971.
2017-12-12HouseProvides for consideration of H.R. 477 and H.R. 3971 under structured rules with one hour of debate, one motion to recommit with or without instructions on each measure. Also provides for consideration of H.J.Res. 123 under a closed rule, with one hour of debate and one motion
2017-12-12HouseConsidered under the provisions of rule H. Res. 647. (consideration: CR H9799-9808)
2017-12-06HouseRules Committee Resolution H. Res. 647 Reported to House. Provides for consideration of H.R. 477 and H.R. 3971 under structured rules with one hour of debate, one motion to recommit with or without instructions on each measure. Also provides for consideration of H.J.Res. 123 under a closed rule, with one hour of debate and one motion
2017-11-30HousePlaced on the Union Calendar, Calendar No. 319.
2017-11-30HouseReported by the Committee on Financial Services. H. Rept. 115-432.
2017-10-12HouseOrdered to be Reported by the Yeas and Nays: 41 - 19.
2017-10-12HouseCommittee Consideration and Mark-up Session Held.
2017-10-11HouseCommittee Consideration and Mark-up Session Held.
2017-10-05HouseReferred to the House Committee on Financial Services.
2017-10-05HouseIntroduced in House

Same As/Similar To

HB10 (Related) 2017-07-13 - Committee on Banking, Housing, and Urban Affairs. Hearings held.
HB3280 (Related) 2017-07-18 - Placed on the Union Calendar, Calendar No. 167.
HB3354 (Related) 2017-09-27 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.
HR647 (Related) 2017-12-07 - Motion to reconsider laid on the table Agreed to without objection.

Subjects


US Congress State Sources


Bill Comments

feedback