,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #aggi  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,april #bf1 #bjac ,mr4
 ,f9*] 7= himself1 ,mr4 ,?ompson (      
,mississippi1 & ,mr4 ,g>y ,g4 ,mill] (  
,cali=nia7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,f9ancial   
,s]vices  ,a ,,bill  ,to am5d ! ,tru? 9 
,l5d+ ,act to modify ! def9itions ( a   
mortgage orig9ator & a high-co/         
mortgage4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,pres]v+ ,access to        
,manufactur$ ,h\s+ ,act ( #bjac4  #b4   
,mortgage orig9ator def9ition  7a7      
,am5dm5t to def9ition ,section #adja ( !
 ,dodd-,frank ,wall ,/reet ,re=m &      
,consum] ,protection ,act is am5d$1 9   
p>agraph 7#b77;,c77ii7 ( ! matt] propos$
 to be add$ to section #ajc ( ! ,tru? 9 
,l5d+ ,act1 by /rik+ an employee ( a    
retail] ( manufactur$ homes :o is n     
describ$ 9 clause 7i7 or 7iii7 (        
subp>agraph 7,a7 & :o does n advise a   
consum] on loan t]ms 7includ+ rates1    
fees1 & o!r co/s7 & ins]t+ a retail] (  

manufactur$ or modul> homes or its      
employees unless su* retail] or its     
employees receive comp5sation or ga9 =  
engag+ 9 activities describ$ 9          
subp>agraph 7,a7 t is 9 excess ( any    
comp5sation or ga9 receiv$ 9 a comp>able
 ca% transaction4  7b7 ,te*nical        
am5dm5ts  7#a7 ,section #adja ( !       
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act is am5d$1 9 ! 
matt] propos$ to be add$ to section #ajc
 ( ! ,tru? 9 ,l5d+ ,act1 by r$esignat+  
subsection 7cc7 z subsection 7dd74  7#b7
 ,section #adca7;d7 ( ! ,dodd-,frank    
,wall ,/reet ,re=m & ,consum]           
,protection ,act is am5d$--  7,a7 by    
/rik+ subsection 7cc7 & ins]t+          
subsection 7dd72 &  7,b7 9 ! matt]      
propos$ to be add$ to section #ajc ( !  
,tru? 9 ,l5d+ ,act by r$esignat+        
subsection 7dd7 z subsection 7ee74  7c7 
,effective date ,! am5dm5ts made by ?is 
section %all take effect z if includ$ 9 
! provisions ( ! ,dodd-,frank ,wall     
,/reet ,re=m & ,consum] ,protection ,act

 to :i* !y relate4  #c4 ,high-,co/      
mortgage def9ition ,section #ajc ( !    
,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4 #afjb7
 is am5d$--  7#a7 by r$esignat+         
subsection 7aa7 7relat+ to disclosure ( 
great] am\nt or p]c5tage71 z s designat$
 by section #aajj;,a ( ,public ,law     
#aaa-bjc1 z subsection 7bb72  7#b7 by   
r$esignat+ subsection 7bb7 7relat+ to   
high co/ mortgages71 z s designat$ by   
section #aajj;,a ( ,public ,law         
#aaa-bjc1 z subsection 7aa71 & mov+ su* 
subsection to imm$iately foll[          
subsection 7z72 &  7#c7 9 subsection    
7aa77#a77;,a71 z s r$esignat$--  7,a7 9 
clause 7i77,i7--  7i7 by /rik+ 7#h4e    
p]c5tage po9ts1 if ! dwell+ is p]sonal  
prop]ty & ! transaction is = less ?an   
#ej1jjj72 &  7ii7 by /rik+ or at ! end2 
7,b7 9 clause 7i77,,ii71 by add+ or at !
 end2  7,c7 9 clause 7i71 by add+ at !  
end ! foll[+3  7,,iii7 by a fir/        
mortgage on a consum]'s pr9cipal dwell+ 
t is consid]$ p]sonal prop]ty 7or is a  
consum] cr$it transaction t does n      

include ! pur*ase ( real prop]ty on :i* 
a dwell+ is to be plac$71 ! annual      
p]c5tage rate at consummation ( !       
transaction w exce$ ! av]age prime (f]  
rate1 z def9$ 9 section                 
#abi;,c7b77#b77;,b71 = a comp>able      
transaction1 by m ?an--  7aa7 #h4e      
p]c5tage po9ts1 9 ! case ( a transaction
 9 an am\nt ( #ej1jjj or m1 b less ?an  
#ge1jjj 7z su* am\nts are adju/$ by !   
,bureau to reflect ! *ange 9 ! ,consum] 
,price ,index72  7bb7 #aj4e p]c5tage    
po9ts1 9 ! case ( a transaction 9 an    
am\nt ( m ?an #cj1jjj1 b less ?an       
#ej1jjj 7z su* am\nts are adju/$ by !   
,bureau to reflect ! *ange 9 ! ,consum] 
,price ,index72 or  7cc7 #ab4e p]c5tage 
po9ts1 9 ! case ( a transaction 9 an    
am\nt ( #cj1jjj or less 7z su* am\nt is 
adju/$ by ! ,bureau to reflect ! *ange 9
 ! ,consum] ,price ,index71 or a high]  
p]c5tage e/abli%$ by ! ,bureau n to     
exce$ #ad4e p]c5tage po9ts 9 su* cases1 
if ! ,bureau det]m9es t ! l[] rate w\ld 
re/rict access to cr$it & t rais+ ! rate

 w\ld n h a detrim5tal impact on consum]
 protection4  2 &  7,d7 9 clause 7ii7-- 
7i7 9 subclause 7,i71 by /rik+ or at !  
end2 &  7ii7 by add+ at ! end ! foll[+3 
7,,iii7 9 ! case ( a transaction = less 
?an #ge1jjj 7z su* am\nt is adju/$ by ! 
,bureau to reflect ! *ange 9 ! ,consum] 
,price ,index7 9 :i* ! dwell+ is        
consid]$ p]sonal prop]ty 7or is a       
consum] cr$it transaction t does n      
include ! pur*ase ( real prop]ty on :i* 
a dwell+ is to be plac$7 ! great] ( #e  
p]c5t ( ! total transaction am\nt or    
#c1jjj 7z su* am\nt is adju/$ by !      
,bureau to reflect ! *ange 9 ! ,consum] 
,price ,index72 or  4