Portfolio Lending and Mortgage Access Act

Summary

Portfolio Lending and Mortgage Access Act This bill amends the Truth in Lending Act to create a safe harbor from lawsuit for creditors that are depository institutions for any failure to comply with certain requirements with respect to a residential mortgage loan, and the banking regulators are required to treat such a loan as a qualified mortgage, if the creditor has, since the loan's origination, held it on its balance sheet and all prepayment penalties with respect to the loan comply with specified limitations. A safe harbor from lawsuit is also created for mortgage originators for steering a consumer to a residential mortgage loan if: the creditor is a depository institution and has informed the mortgage originator that it intends to hold the loan on its balance sheet for the life of the loan, and the mortgage originator informs the consumer that the creditor intends to do so.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 3 March 2015

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 3 March 2015

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 March 2015

   Introduced

   Introduced in House

   Source: IntroReferral

4. 16 April 2015

   Committee

   Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-49.

   Source: Committee

5. 11 June 2015

   Committee

   Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

   Source: Committee

6. 28 July 2015

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

7. 29 July 2015

   Vote

   Ordered to be Reported by the Yeas and Nays: 38 - 18.

   Source: Committee

8. 29 July 2015

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

9. 16 November 2015

   Calendars

   Placed on the Union Calendar, Calendar No. 251.

   Source: Calendars

10. 16 November 2015

    Reported

    Reported by the Committee on Financial Services. H. Rept. 114-330.

    Source: Committee

11. 16 November 2015

    Reported

    Reported by the Committee on Financial Services. H. Rept. 114-330.

    Source: Committee

12. 17 November 2015

    Reported

    Rules Committee Resolution H. Res. 529 Reported to House. Rule provides for consideration of H.R. 1210 and H.R. 3189. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Rule provides that H.R. 1210 shall be amended by the text of Rules Committee Print 114-34 and that the amendment printed in part A of the report from the Committee on Rules shall be separately debatable for 10 minutes. H.R. 3189 shall be amended by the text of Rules Committee Print 114-35 and modified by the amendment printed in Part B of the report. No further amendments other than those printed in Part C of the report shall be in order for H.R. 3189.

    Source: Floor

13. 18 November 2015

    Floor

    Mr. Thompson (CA) moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H8319-8321; text: CR H8319)

    Source: Floor

14. 18 November 2015

    Floor

    The previous question was ordered pursuant to the rule. (consideration: CR H8319)

    Source: Floor

15. 18 November 2015

    Floor

    DEBATE - Pursuant to the provisions of H. Res. 529, the House proceeded with one hour of general debate on H.R. 1210.

    Source: Floor

16. 18 November 2015

    Floor

    Considered under the provisions of rule H. Res. 529. (consideration: CR H8311-8322)

    Source: Floor

17. 18 November 2015

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

18. 18 November 2015

    Vote

    On passage Passed by the Yeas and Nays: 255 - 174 (Roll no. 636). (text: CR H8312)

    Source: Floor

19. 18 November 2015

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 255 - 174 (Roll no. 636).(text: CR H8312)

    Source: Floor

20. 18 November 2015

    Vote

    On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 242 (Roll no. 635).

    Source: Floor

21. 18 November 2015

    Floor

    The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H8320)

    Source: Floor

22. 19 November 2015

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Referred in Senate · 19 November 2015 · Official file
• Engrossed in House · 18 November 2015 · Official file
• Reported in House · 16 November 2015 · Official file
• Introduced in House · 3 March 2015 · Official file

Documents

10 official files

• Referred in Senate (text)

  Referred in Senate · EN · 19 November 2015

  ViewDownloadOpen at official source

• Referred in Senate (PDF)

  Referred in Senate · EN · 19 November 2015

  ViewDownloadOpen at official source

• Engrossed in House (text)

  Engrossed in House · EN · 18 November 2015

  ViewDownloadOpen at official source

• Engrossed in House (PDF)

  Engrossed in House · EN · 18 November 2015

  ViewDownloadOpen at official source

• Passed House amended

  summary · EN · 18 November 2015

  Open at official source

• Reported in House (text)

  Reported in House · EN · 16 November 2015

  ViewDownloadOpen at official source

• Reported in House (PDF)

  Reported in House · EN · 16 November 2015

  ViewDownloadOpen at official source

• Introduced in House (text)

  Introduced in House · EN · 3 March 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 March 2015

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 March 2015

  Open at official source

Sponsors

• Rep. Barr, Andy [R-KY-6] · R · Sponsor
• Rep. Amodei, Mark E. [R-NV-2] · R · Sponsor
• Rod Blum · R · Sponsor
• Rep. Dold, Robert J. [R-IL-10] · R · Sponsor
• Sean Duffy · R · Sponsor
• Rep. Fincher, Stephen Lee [R-TN-8] · R · Sponsor
• Rep. Guinta, Frank C. [R-NH-1] · R · Sponsor
• Vicky Hartzler · R · Sponsor
• J. Hill · R · Sponsor
• Randy Hultgren · R · Sponsor
• David Joyce · R · Sponsor
• PETER KING · R · Sponsor
• Frank Lucas · R · Sponsor
• Blaine Luetkemeyer · R · Sponsor
• Luke Messer · R · Sponsor
• Mick Mulvaney · R · Sponsor
• Rep. Neugebauer, Randy [R-TX-19] · R · Sponsor
• James Renacci · R · Sponsor
• Rep. Ribble, Reid J. [R-WI-8] · R · Sponsor
• Keith Rothfus · R · Sponsor
• Steve Stivers · R · Sponsor
• Rep. Stutzman, Marlin A. [R-IN-3] · R · Sponsor
• Scott Tipton · R · Sponsor
• Rep. Weber, Randy K. Sr. [R-TX-14] · R · Sponsor
• Tom Emmer · R · Sponsor
• Kenny Marchant · R · Cosponsor
• Tom Rice · R · Cosponsor
• Ryan Zinke · R · Cosponsor
• David Valadao · R · Cosponsor
• Mark Meadows · R · Cosponsor
• Rep. McClintock, Tom [R-CA-5] · R · Cosponsor
• Rep. Walberg, Tim [R-MI-5] · R · Cosponsor
• Ann Wagner · R · Cosponsor
• Bruce Poliquin · R · Cosponsor
• David Young · R · Cosponsor
• Ted Poe · R · Cosponsor
• Brett Guthrie · R · Cosponsor
• Rep. Fleischmann, Charles J. "Chuck" [R-TN-3] · R · Cosponsor
• Susan Brooks · R · Cosponsor
• Pete Olson · R · Cosponsor
• Rodney Davis · R · Cosponsor
• Carlos Curbelo · R · Cosponsor
• Rep. Wilson, Joe [R-SC-2] · R · Cosponsor
• Stevan Pearce · R · Cosponsor
• Chris Collins · R · Cosponsor
• Bill Johnson · R · Cosponsor
• Kristi Noem · R · Cosponsor
• Chris Stewart · R · Cosponsor

Showing 48 of 57 sponsors and actors.

Related records

• related to → CLEARR Act of 2015
• related to → Portfolio Lending and Mortgage Access Act
• related to → Portfolio Lending and Mortgage Access Act
• related to ← American Jobs and Community Revitalization Act of 2015
• related to ← Providing for consideration of the bill (H.R. 1210) to amend the Truth in Lending Act to provide a safe harbor from certain requirements related to qualified mortgages for residential mortgage loans held on an originating depository institution's portfolio, and for other purposes; providing for consideration of the bill (H.R 3189) to amend the Federal Reserve Act to establish requirements for policy rules and blackout periods of the Federal Open Market Committee, to establish requirements for certain activities of the Board of Governors of the Federal Reserve System, and to amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited, and for other purposes; and providing for proceedings during the period from November 20, 2015, through November 27, 2015.
• related to ← Financial CHOICE Act of 2016