US SB2013 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on October 26 2017 - 25% progression, died in committee
Action: 2017-10-26 - 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 (Introduced) [PDF]
Status: Introduced on October 26 2017 - 25% progression, died in committee
Action: 2017-10-26 - 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 (Introduced) [PDF]
Summary
Portfolio Lending and Mortgage Access Act This bill amends the Truth in Lending Act to modify provisions related to residential mortgage loans. In general, a creditor that is a depository institution shall not be subject to suit for violating specified ability-to-pay requirements with respect to a residential mortgage loan if: (1) the creditor has consistently held the loan on its balance sheet, and (2) prepayment penalties associated with the loan comply with specified limitations. Similarly, a mortgage originator shall not be subject to suit for such a violation if: (1) the creditor is a depository institution; and (2) the creditor informs the mortgage originator, which informs the consumer, that the creditor intends to hold the loan on its balance sheet for the life of the loan.
Title
Portfolio Lending and Mortgage Access Act
Sponsors
| Sen. David Perdue [R-GA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2017-10-26 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Same As/Similar To
HB10 (Related) 2017-07-13 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
HB2133 (Related) 2017-07-12 - Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
HB2226 (Same As) 2018-03-07 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB3280 (Related) 2017-07-26 - Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.
HB3354 (Related) 2017-09-27 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.
HB2133 (Related) 2017-07-12 - Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
HB2226 (Same As) 2018-03-07 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB3280 (Related) 2017-07-26 - Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.
HB3354 (Related) 2017-09-27 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.
Subjects
Bank accounts, deposits, capital
Banking and financial institutions regulation
Civil actions and liability
Finance and financial sector
Housing finance and home ownership
Banking and financial institutions regulation
Civil actions and liability
Finance and financial sector
Housing finance and home ownership
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/115th-congress/senate-bill/2013/all-info |
| Text | https://www.congress.gov/115/bills/s2013/BILLS-115s2013is.pdf |
