,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #cebi  ,,in ,,the ,,house ,,of  
,,representatives  ,november #ai1       
#bjac,mr4 ,meadows 7for himself1 ,mrs4  
,capito1 ,mr4 ,murphy of ,florida1 and  
,mr4 ,butterfield7 introduced the       
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to provide exemptions from  
certain mortgage1 servicing1 and        
appraisal requirements for non-profit   
low-income housing providers1 and for   
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,protecting    
,habitat ,homeownership ,act4  #b4      
,exemptions  7a7 ,truth in ,lending ,act
 ,the ,truth in ,lending ,act 7#ae      
,u4,s4,c4 #afja et seq47 is amended--   
7#a7 in section #abh7;f7 7#ae ,u4,s4,c4 
#afch7;f77-- 7,a7 in paragraph 7#c7--   
7i7 by striking apply to any fixed rate 
and inserting the following3 apply to-- 
7,a7 any fixed rate  2  7ii7 by striking
 the period and inserting 2 or2 and     
7iii7 by adding at the end the          

following3  7,b7 any residential        
mortgage loan originated by a non-profit
 low-income housing provider4  2 and    
7,b7 by adding at the end the following3
  7#d7 ,non-profit low-income housing   
provider defined ,for purposes of this  
subsection1 the term non-profit         
low-income housing provider means an    
organization that-- 7,a7 is exempt from 
taxation pursuant to section            
#eja7;c77#c7 of the ,internal ,revenue  
,code of #aihf2  7,b7 makes residential 
mortgage loans-- 7i7 for the purpose of 
promoting or facilitating homeownership 
for poor or low-income1 disabled1 or    
other disadvantaged persons or families2
 and  7ii7 sets interest rates on such  
loans that-- 7,i7 are lower than the    
bank prime loan rate1 as determined     
under the ,federal ,reserve ,statistical
 ,release of selected interest rates    
7commonly referred to as the ,h4#ae7 by 
the ,board of ,governors of the ,federal
 ,reserve ,system1 for the last day of  
the most recent weekly release of such  

rates2 or  7,,ii7 are1 after adjusting  
for inflation1 no-interest loans or     
loans with interest rates significantly 
below the interest rates for loans for  
purchase of single-family housing       
generally available in the market2  7,c7
 except as described under subparagraph 
7,b71 does not engage in the business of
 a loan originator or mortgage broker2  
7,d7 conducts its activities in a manner
 that serves public or charitable       
purposes2  7,e7 receives funding and    
revenue and charges fees in a manner    
that does not incentivize the           
organization or its employees to act    
other than in the best interests of its 
clients2  7,f7 compensates employees in 
a manner that does not incentivize      
employees to act other than in the best 
interests of its clients2 and  7,g7     
meets such other requirements as the    
,bureau determines appropriate4  4  7#b7
 in section #abi;,c7a7 7#ae ,u4,s4,c4   
#afci;c7a771 by adding at the end the   
following3  7#aj7 ,exemption for        

non-profit low-income housing providers 
,this subsection shall not apply to a   
residential mortgage loan made by a     
non-profit low-income housing provider  
7as such term is defined under section  
#abh7;f77#d774  2  7#c7 in section      
#abi;,e 7#ae ,u4,s4,c4 #afch;e71 by     
adding at the end the following3  7l7   
,exemption for non-,profit low-,income  
housing providers ,this section shall   
not apply to a residential mortgage loan
 made by a non-profit low-income housing
 provider 7as such term is defined under
 section #abh7;f77#d771 or any services 
provided with respect to such a mortgage
 loan4  2 and  7#d7 in section #abi;,h  
7#ae ,u4,s4,c4 #afch;h71 by adding at   
the end the following3  7g7 ,exemption  
for non-,profit low-,income housing     
providers ,this section shall not apply 
to a residential mortgage loan made by a
 non-profit low-income housing provider 
7as such term is defined under section  
#abh7;f77#d774  4  7b7 ,real ,estate    
,settlement ,procedures ,act of #aigd   

,section #f7k7 of the ,real ,estate     
,settlement ,procedures ,act of #aigd   
7#ab ,u4,s4,c4 #bfje7k77 is amended by  
adding at the end the following3  7#c7  
,exemption for non-profit low-income    
housing providers ,this subsection and  
subsections 7l7 and 7m7 shall not apply 
to the servicing of a residential       
mortgage loan made by a non-profit      
low-income housing provider 7as such    
term is defined under section           
#abh7;f77#d7 of the ,truth in ,lending  
,act74  4