S. 2013
Referred to CommitteePortfolio Lending and Mortgage Access Act
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
10/26/2017 • Senate
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.
Introduced in Senate • 10/26/2017
Topics & Subjects
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Bill Journey
Originated in the Senate
Introduced
October 26, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Related Bills (5)
H.R. 10
Financial CHOICE Act of 2017
H.R. 2133
CLEARR Act of 2017
H.R. 3280
Financial Services and General Government Appropriations Act, 2018
H.R. 3354
Make America Secure and Prosperous Appropriations Act, 2018
H.R. 2226
Portfolio Lending and Mortgage Access Act