US HB2226 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Republican 40-1)
Status: Engrossed on March 7 2018 - 50% progression, died in committee
Action: 2018-03-07 - 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]
Status: Engrossed on March 7 2018 - 50% progression, died in committee
Action: 2018-03-07 - 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
Portfolio Lending and Mortgage Access Act (Sec. 2) This bill amends the Truth in Lending Act to allow a depository institution or credit union with assets below a specified threshold to forgo certain ability-to-pay requirements regarding residential mortgage loans. Specifically, those requirements are waived if a loan: (1) is originated by and continuously retained by the institution, (2) complies with requirements regarding prepayment penalties and points and fees, and (3) does not have negative amortization or interest-only terms. Furthermore, for such requirements to be waived, the institution must consider and verify the debt, income, and financial resources of the consumer. The bill also provides for circumstances in which such requirements shall be waived with respect to a loan that is transferred: (1) by reason of bankruptcy or failure of the originating institution, (2) to a similar institution, (3) in the event of a merger, or (4) to a wholly owned subsidiary of the institution.
Title
Portfolio Lending and Mortgage Access Act
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2018-03-07 | Senate | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| 2018-03-06 | House | Motion to reconsider laid on the table Agreed to without objection. |
| 2018-03-06 | House | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1389-1390) |
| 2018-03-06 | House | DEBATE - The House proceeded with forty minutes of debate on H.R. 2226. |
| 2018-03-06 | House | Considered under suspension of the rules. (consideration: CR H1389-1393) |
| 2018-03-06 | House | Mr. Barr moved to suspend the rules and pass the bill, as amended. |
| 2018-02-23 | House | Placed on the Union Calendar, Calendar No. 438. |
| 2018-02-23 | House | Reported (Amended) by the Committee on Financial Services. H. Rept. 115-578. |
| 2018-01-18 | House | Ordered to be Reported (Amended) by the Yeas and Nays: 55 - 0. |
| 2018-01-18 | House | Committee Consideration and Mark-up Session Held. |
| 2018-01-17 | House | Committee Consideration and Mark-up Session Held. |
| 2017-04-28 | House | Referred to the House Committee on Financial Services. |
| 2017-04-28 | House | Introduced in House |
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.
HR375 (Similar To) 2017-06-07 - Motion to reconsider laid on the table Agreed to without objection.
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.
SB2013 (Same As) 2017-10-26 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
SB2155 (Related) 2018-05-24 - Became Public Law No: 115-174.
HR905 (Similar To) 2018-05-22 - Motion to reconsider laid on the table Agreed to without objection.
HB2133 (Related) 2017-07-12 - Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
HR375 (Similar To) 2017-06-07 - Motion to reconsider laid on the table Agreed to without objection.
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.
SB2013 (Same As) 2017-10-26 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
SB2155 (Related) 2018-05-24 - Became Public Law No: 115-174.
HR905 (Similar To) 2018-05-22 - Motion to reconsider laid on the table Agreed to without objection.
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
