H.R. 3971 — 115th Congress
Community Institution Mortgage Relief Act of 2017
Sponsor
Latest action
Dec 13, 2017Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
CRS summary
As of Dec 12, 2017Passed House amended
Community Institution Mortgage Relief Act of 2017
(Sec. 2) 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 $10 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 20,000 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.
Congressional Research Service, via api.congress.gov (public domain)
Roll-call votes
2 on recordDec 12, 2017 · On Passage
Full roll callYea — 294: 232 R · 59 D · 2 I · 1 L
Nay — 129: 128 D · 1 R
Not Voting — 8: 5 D · 3 R
| Member | State |
|---|---|
| Terri A. Sewell | AL |
| Luis V. Gutiérrez | IL |
| Joseph P. Kennedy III | MA |
| Timothy J. Walz | MN |
| Mark Pocan | WI |
| Steve Scalise | LA |
| Jim Bridenstine | OK |
| Scott DesJarlais | TN |
Dec 12, 2017 · On Motion to Recommit with Instructions
Full roll callYea — 190: 187 D · 2 R · 1 I
Nay — 233: 231 R · 1 I · 1 L
Not Voting — 8: 5 D · 3 R
| Member | State |
|---|---|
| Terri A. Sewell | AL |
| Luis V. Gutiérrez | IL |
| Joseph P. Kennedy III | MA |
| Timothy J. Walz | MN |
| Mark Pocan | WI |
| Steve Scalise | LA |
| Jim Bridenstine | OK |
| Scott DesJarlais | TN |
Member pages currently show roll-call votes from the 119th Congress only. The “Member pages” column marks votes from that congress.