Portfolio Lending and Mortgage Access Act

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.

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

Timeline

1. 26 October 2017

   Introduced

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

   Source: IntroReferral

2. 26 October 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 October 2017 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 October 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 October 2017

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 26 October 2017

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Perdue, David [R-GA] · R · Sponsor
• · ssbk00 · Standing

Related records

• related to → Financial CHOICE Act of 2017
• related to → CLEARR 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 → Portfolio Lending and Mortgage Access Act