H.R. 1210 — 114th Congress
Portfolio Lending and Mortgage Access Act
Sponsor
More bills from this sponsor
114th Congress| Measure | Title |
|---|---|
| H.R. 1259 · Finance and Financial Sector | Helping Expand Lending Practices in Rural Communities Act |
Latest action
Nov 19, 2015Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
CRS summary
As of Nov 18, 2015Passed House amended
Portfolio Lending and Mortgage Access Act
(Sec. 2) 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.
Congressional Research Service, via api.congress.gov (public domain)
Roll-call votes
2 on recordNov 18, 2015 · On Passage
Full roll callYea — 255: 242 R · 11 D · 1 I · 1 L
Nay — 174: 173 D · 1 R
Not Voting — 4: 3 D · 1 R
| Member | State |
|---|---|
| Mark Takai | HI |
| C. A. Dutch Ruppersberger | MD |
| Peter A. DeFazio | OR |
| Daniel Webster | FL |
Nov 18, 2015 · On Motion to Recommit with Instructions
Full roll callYea — 184: 182 D · 2 R
Nay — 242: 240 R · 1 I · 1 L
Not Voting — 7: 5 D · 2 R
| Member | State |
|---|---|
| Mark Takai | HI |
| Bill Foster | IL |
| C. A. Dutch Ruppersberger | MD |
| Betty McCollum | MN |
| Peter A. DeFazio | OR |
| Ken Calvert | CA |
| Robert Hurt | VA |
Member pages currently show roll-call votes from the 119th Congress only. The “Member pages” column marks votes from that congress.