United States · Bill · HR
H.R. 3971 (115th)
Community Institution Mortgage Relief Act of 2017
Introduced
5 October 2017
Last action
13 December 2017 · Introduced
Status
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
Rep. Tenney, Claudia [R-NY-24], Rep. Sherman, Brad [D-CA-32], Rep. Williams, Roger [R-TX-25], Rep. Loebsack, David [D-IA-2], Rep. Sessions, Pete [R-TX-17]
Subjects
Taxation
Source updated
7 April 2025
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.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
7 September 2017
Committee
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
Source: Committee
5 October 2017
Introduced
Introduced in House
Source: IntroReferral
5 October 2017
Introduced
Introduced in House
Source: IntroReferral
5 October 2017
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
11 October 2017
Committee
Committee Consideration and Mark-up Session Held.
Source: Committee
12 October 2017
Vote
Ordered to be Reported by the Yeas and Nays: 41 - 19.
Source: Committee
12 October 2017
Committee
Committee Consideration and Mark-up Session Held.
Source: Committee
30 November 2017
Calendars
Placed on the Union Calendar, Calendar No. 319.
Source: Calendars
30 November 2017
Reported
Reported by the Committee on Financial Services. H. Rept. 115-432.
Source: Committee
30 November 2017
Reported
Reported by the Committee on Financial Services. H. Rept. 115-432.
Source: Committee
6 December 2017
Reported
Rules 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
Source: Floor
12 December 2017
Floor
Ms. Titus moved to recommit with instructions to the Committee on Financial Services. (text: CR H9807)
Source: Floor
12 December 2017
Floor
Considered under the provisions of rule H. Res. 647. (consideration: CR H9799-9808)
Source: Floor
12 December 2017
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
12 December 2017
Vote
On passage Passed by the Yeas and Nays: 294 - 129 (Roll no. 675). (text: CR H9799)
Source: Floor
12 December 2017
Vote
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 294 - 129 (Roll no. 675).(text: CR H9799)
Source: Floor
12 December 2017
Vote
On motion to recommit with instructions Failed by the Yeas and Nays: 190 - 233 (Roll no. 674).
Source: Floor
12 December 2017
Floor
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
Source: Floor
12 December 2017
Floor
The previous question on the motion to recommit with instructions was ordered without objection.
Source: Floor
13 December 2017
Introduced
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: IntroReferral
Votes
12 December 2017 · passed · On Passage · Passed · Official source
Yes 294 · No 129 · Abstain — · Absent/not voting 8
- Rep. Ferguson, A. Drew, IV [R-GA-3]Yea
- Rep. McEachin, A. Donald [D-VA-4]Nay
- Rep. Hastings, Alcee L. [D-FL-20]Nay
- Rep. Kinzinger, Adam [R-IL-16]Yea
Showing the first 4 recorded positions. Vote totals above are complete.
12 December 2017 · failed · On Motion to Recommit with Instructions · Failed · Official source
Yes 190 · No 233 · Abstain — · Absent/not voting 8
- Rep. Ferguson, A. Drew, IV [R-GA-3]Nay
- Rep. McEachin, A. Donald [D-VA-4]Yea
- Rep. Hastings, Alcee L. [D-FL-20]Yea
- Rep. Kinzinger, Adam [R-IL-16]Nay
Showing the first 4 recorded positions. Vote totals above are complete.
Versions
- Referred in Senate · 13 December 2017 · Download file
- Engrossed in House · 12 December 2017 · Download file
- Reported in House · 30 November 2017 · Download file
- Introduced in House · 5 October 2017 · Download file
Documents
11 official files
Referred in Senate (text)
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Referred in Senate (text)
Referred in Senate · EN · 13 December 2017
Referred in Senate (PDF)
Referred in Senate · EN · 13 December 2017
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Engrossed in House (text)
Engrossed in House · EN · 12 December 2017
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Engrossed in House (PDF)
Engrossed in House · EN · 12 December 2017
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Passed House amended
summary · EN · 12 December 2017
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Reported in House (text)
Reported in House · EN · 30 November 2017
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Reported in House (PDF)
Reported in House · EN · 30 November 2017
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Reported to House without amendment
summary · EN · 30 November 2017
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Introduced in House (text)
Introduced in House · EN · 5 October 2017
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Introduced in House (PDF)
Introduced in House · EN · 5 October 2017
ViewDownloadOpen at official source
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Introduced in House
summary · EN · 5 October 2017
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Rep. Tenney, Claudia [R-NY-24] · R · Sponsor
- Rep. Sherman, Brad [D-CA-32] · D · Sponsor
- Rep. Williams, Roger [R-TX-25] · R · Sponsor
- Rep. Loebsack, David [D-IA-2] · D · Cosponsor
- Rep. Sessions, Pete [R-TX-17] · R · Cosponsor
- · ssbk00 · Standing
- · hsba00 · Standing
Related records
- related to → Financial CHOICE Act of 2017
- related to → Financial Services and General Government Appropriations Act, 2018
- related to → Make America Secure and Prosperous Appropriations Act, 2018
- related to ← Providing for consideration of the bill (H.R. 477) to amend the Securities Exchange Act of 1934 to exempt from registration brokers performing services in connection with the transfer of ownership of smaller privately held companies; providing for consideration of the bill (H.R. 3971) to amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to modify the requirements for community financial institutions with respect to certain rules relating to mortgage loans, and for other purposes; and providing for consideration of the joint resolution (H.J. Res. 123) making further continuing appropriations for fiscal year 2018, and for other purposes.
- amends ← Pursuant to the provisions of H.Res. 647 the amendment in the nature of a substitute consisting of the text of Rules Committee Print 115-44 is considered as adopted.
- amends ← An amendment numbered 1 printed in Part B of House Report 115-443 to lower the amount of consolidated assets of a creditor eligible for the safe harbor from escrow requirements in the bill from $25,000,000,000 or less to $10,000,000,000 or less; lowers the number of loans that a mortgage servicer eligible for exemptions and adjustments from the Bureau can service annually from 30,000 or fewer mortgage loans to 20,000 or fewer mortgage loans.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/115th-congress/house-bill/3971
- Open data entity: https://api.congress.gov/v3/bill/115/hr/3971
- us · 115-hr-3971 · source updated 7 April 2025