,i  #aadth ,,congress  #ast ,session    
,h4 ,r4 #aaac  ,,in ,,the ,,house ,,of  
,,representatives  ,february #bf1 #bjae 
,mr4 ,barr 7for himself1 ,mr4 ,weber of 
,texas1 ,mr4 ,neugebauer1 ,mr4 ,fincher1
 ,mr4 ,dold1 ,mr4 ,tipton1 ,mr4 ,hill1  
,mr4 ,lucas1 ,mr4 ,rothfus1 ,mr4        
,luetkemeyer1 ,mr4 ,stivers1 ,mr4 ,king 
of ,new ,york1 ,mr4 ,hultgren1 ,mr4     
,duffy1 ,mr4 ,stutzman1 ,mr4 ,guinta1   
and ,mr4 ,ribble7 introduced the        
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,truth in      
,lending ,act to provide a safe harbor  
from certain requirements related to    
qualified mortgages for residential     
mortgage loans held on an originating   
insured depository institution's        
portfolio1 and for other purposes4  #a4 
,short title ,this ,act may be cited as 
the ,portfolio ,lending and ,mortgage   
,access ,act4  #b4 ,safe harbor for     
certain loans held on portfolio  7a7 ,in
 general ,section #abi;,c of the ,truth 

in ,lending ,act 7#ae ,u4,s4,c4 #afci;c7
 is amended by adding at the end the    
following3  7j7 ,safe harbor for certain
 loans held on portfolio  7#a7 ,safe    
harbor for creditors that are insured   
depository institutions  7,a7 ,in       
general ,a creditor that is an insured  
depository institution shall not be     
subject to suit for failure to comply   
with subsection 7a71 7c77#a71 or 7f77#b7
 of this section or section #abi;,h with
 respect to a residential mortgage loan1
 and the banking regulators shall treat 
such loan as a qualified mortgage1 if-- 
7i7 the creditor has1 since the         
origination of the loan1 held the loan  
on the balance sheet of the creditor2   
and  7ii7 all prepayment penalties with 
respect to the loan comply with the     
limitations described under subsection  
7c77#c74  7,b7 ,exception for certain   
transfers ,in the case of an insured    
depository institution that transfers a 
loan originated by that institution to  
another insured depository institution  

by reason of the bankruptcy or failure  
of the originating insured depository   
institution or the purchase of the      
originating insured depository          
institution1 the insured depository     
institution transferring such loan shall
 be deemed to have complied with the    
requirement under subparagraph 7,a77i74 
7#b7 ,safe harbor for mortgage          
originators ,a mortgage originator shall
 not be subject to suit for a violation 
of section #abi;,b7c77#c77;,b7 for      
steering a consumer to a residential    
mortgage loan if-- 7,a7 the creditor of 
such loan is an insured depository      
institution and has informed the        
mortgage originator that the creditor   
intends to hold the loan on the balance 
sheet of the creditor for the life of   
the loan2 and  7,b7 the mortgage        
originator informs the consumer that the
 creditor intends to hold the loan on   
the balance sheet of the creditor for   
the life of the loan4  7#c7 ,definitions
 ,for purposes of this subsection3  7,a7

 ,banking regulators ,the term banking  
regulators means the ,federal banking   
agencies and the ,bureau4  7,b7 ,other  
terms ,the terms ,federal banking       
agencies and insured depository         
institution have the meaning given those
 terms1 respectively1 under section #c  
of the ,federal ,deposit ,insurance     
,act4  4  7b7 ,rule of construction     
,nothing in the amendment made by this  
,act may be construed as preventing a   
balloon loan from qualifying for the    
safe harbor provided under section      
#abi;,c7j7 of the ,truth in ,lending    
,act if the balloon loan otherwise meets
 all of the requirements under such     
subsection 7j71 regardless of whether   
the balloon loan meets the requirements 
described under clauses 7i7 through 7iv7
 of section #abi;,c7b77#b77;,e7 of such 
,act4