,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #djdb  ,,in ,,the ,,house ,,of  
,,representatives  ,february #aa1 #bjad 
,mr4 ,luetkemeyer 7for himself1 ,mr4    
,perlmutter1 ,mr4 ,cotton1 ,mr4 ,lucas1 
and ,mr4 ,womack7 introduced the        
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to require a study of       
appropriate capital requirements for    
mortgage servicing assets for           
nonsystemic banking institutions1 and   
for other purposes4  #a4 ,short title   
,this ,act may be cited as the          
,community ,bank ,mortgage ,servicing   
,asset ,capital ,requirements ,study    
,act of #bjad4  #b4 ,definitions ,for   
purposes of this ,act3  7#a7 ,banking   
institution ,the term banking           
institution means a bank holding        
company1 insured depository institution1
 or savings and loan holding company4   
7#b7 ,basel ,,iii capital requirements  
,the term ,basel ,,iii capital          
requirements means the ,global          

,regulatory ,framework for ,more        
,resilient ,banks and ,banking ,systems 
issued by the ,basel ,committee on      
,banking ,supervision on ,december #af1 
#bjaj1 as revised on ,june #a1 #bjaa4   
7#c7 ,federal banking agencies ,the term
 ,federal banking agencies means the    
,board of ,governors of the ,federal    
,reserve ,system1 the ,office of the    
,comptroller of the ,currency1 and the  
,federal ,deposit ,insurance            
,corporation4  7#d7 ,mortgage servicing 
asset ,the term mortgage servicing asset
 means those assets that result from    
contracts to service loans secured by   
real estate1 where such loans are owned 
by third parties4  7#e7 ,nonsystemic    
banking institution ,the term           
nonsystemic banking institution means   
any banking institution other than an   
institution identified by the ,financial
 ,stability ,board as a global          
systemically important bank4  7#f7      
,other definitions ,the terms bank      
holding company1 insured depository     

institution1 and savings and loan       
holding company have the meanings given 
such terms1 respectively1 under section 
#c of the ,federal ,deposit ,insurance  
,act 7#ab ,u4,s4,c4 #ahac74  #c4 ,study 
of the appropriate capital for mortgage 
servicing assets  7a7 ,in general ,the  
,federal banking agencies shall1        
jointly1 conduct a study of the         
appropriate capital requirements for    
mortgage servicing assets for           
nonsystemic banking institutions4  7b7  
,issues ,to be studied ,the study       
required by this section shall include1 
with a specific focus on nonsystemic    
banking institutions--  7#a7 the risk to
 insured depository institutions of     
holding mortgage servicing assets2  7#b7
 the history of the market for mortgage 
servicing assets1 including particularly
 the market for such assets in the      
period of the financial crisis2  7#c7   
the ability of insured depository       
institutions to establish a value for   
their mortgage servicing assets through 

periodic sales or other means2  7#d7    
regulatory approaches to mortgage       
servicing assets in addition to capital 
requirements that could be used to      
address concerns about the value of and 
ability to sell mortgage servicing      
assets2  7#e7 the impact of imposing the
 ,basel ,,iii capital requirements on   
nonsystemic banking institutions on     
their ability to compete in the mortgage
 servicing business1 including the need 
for economies of scale to compete in    
that business1 and on their ability to  
provide service to consumers to whom    
they have made a mortgage loan2  7#f7 an
 analysis of what the mortgage servicing
 marketplace would look like if the     
,basel ,,iii capital requirements on    
mortgage servicing assets were fully    
implemented2  7#g7 the significance of  
problems with mortgage servicing assets1
 if any1 in insured depository          
institution failures and problem insured
 depository institutions1 including     
specifically identifying failed insured 

depository institutions where mortgage  
servicing assets contributed to the     
failure2 and  7#h7 an analysis of the   
relevance of the ,basel ,,iii capital   
requirements on mortgage servicing      
assets to the banking systems of other  
significant developed countries4  7c7   
,report to ,congress ,not later than the
 end of the #a-year period beginning on 
the date of the enactment of this ,act1 
the ,federal banking agencies shall     
issue a report to the ,committee on     
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate and the ,committee on    
,financial ,services of the ,house of   
,representatives containing--  7#a7 the 
results of the study required under     
subsection 7a72 and  7#b7 any analysis  
on the specific issue of mortgage       
servicing assets undertaken by the      
,federal banking agencies prior to      
finalizing regulations implementing the 
,basel ,,iii capital requirements4  #d4 
,delay of rulemaking  7a7 ,rules on     
mortgage servicing assets               

,notwithstanding any other provision of 
law1 no regulation to implement the     
,basel ,,iii capital requirements with  
respect to mortgage servicing assets for
 nonsystemic banking institutions shall 
take effect before the end of the       
#f-month period beginning on the date   
the report is issued under section      
#c7;c74  7b7 ,final rule requirements   
,before any final rule is issued by a   
,federal banking agency with respect to 
capital requirements on mortgage        
servicing assets for nonsystemic banking
 institutions1 the ,federal banking     
agency shall--  7#a7 if the related     
proposed rule was issued before the date
 on which the report is issued under    
section #c7;c71 issue a new proposed    
rule for public comment2 and  7#b7      
consider regulatory approaches to       
mortgage servicing assets that could    
address concerns about the value of and 
ability to sell mortgage servicing      
assets4