,i #aaeth ,,congress #ast ,session ,h4 ,r4 #bacc ,,in ,,the ,,house ,,of ,,representatives ,april #be1 #bjag,mr4 ,luetkemeyer introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to provide regulatory relief to community financial institutions1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,community ,lending ,enhancement and ,regulatory ,relief ,act of #bjag or the ,,clearr ,act of #bjag4 #b4 ,community ,institution ,mortgage ,relief 7a7 ,exemption from escrow requirements for loans held by small creditors ,section #abi;,d7c7 of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afci;d7c771 as added by section #adfa7;a7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act1 is amended-- 7#a7 by redesignating paragraphs 7#a71 7#b71 7#c71 and 7#d7 as subparagraphs 7,a71 7,b71 7,c71 and 7,d7 7and conforming the margins accordingly72 7#b7 by striking ,the ,board and inserting the following3 7#a7 ,in general ,the ,bureau 2 and 7#c7 by adding at the end the following new paragraph3 7#b7 ,treatment of loans held by smaller creditors ,the ,bureau shall1 by regulation1 exempt from the requirements of subsection 7a7 any loan secured by a first lien on a consumer's principal dwelling1 if such loan is held by a creditor with assets of #ej1jjj1jjj1jjj or less4 4 7b7 ,modification to exemption for small servicers of mortgage loans ,section #f of the ,real ,estate ,settlement ,procedures ,act of #aigd 7#ab ,u4,s4,c4 #bfje7 is amended by adding at the end the following3 7n7 ,small ,servicer ,exemption ,the ,bureau shall1 by regulation1 provide exemptions to1 or adjustments for1 the provisions of this section for servicers that annually service #cj1jjj or fewer mortgage loans1 in order to reduce regulatory burdens while appropriately balancing consumer protections4 4 #c4 ,access to ,affordable ,mortgages 7a7 ,exemption from property appraisal requirements for lower-,cost dwellings ,section #abi;,h of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afci;h7 is amended by adding at the end the following new subsection3 7g7 ,exemption for certain mortgages ,the ,bureau1 the ,comptroller of the ,currency1 the ,federal ,deposit ,insurance ,corporation1 the ,national ,credit ,union ,administration ,board1 and the ,federal ,housing ,finance ,agency shall exempt1 by rule1 a mortgage loan of #bej1jjj or less from the requirements of this section if such loan appears on the balance sheet of the creditor of such loan for a period of not less than #c years4 4 7b7 ,exemption from penalties for failure ,to report appraisers ,paragraph 7#a7 of section #abi;,e7k7 of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afci;e7k77#a77 is amended by inserting after this section the following3 1 other than subsection 7e714 7c7 ,exemption from appraisal standard requirements for lower-,cost dwellings ,section #aaaj of the ,financial ,institutions ,reform1 ,recovery1 and ,enforcement ,act of #aihi 7#ab ,u4,s4,c4 #ccci7 is amended-- 7#a7 by striking ,each ,federal financial institutions regulatory agency and the ,resolution ,trust ,corporation and inserting the following3 7a7 ,real estate appraisals in connection with federally related transactions ,each ,federal financial institutions regulatory agency 2 7#b7 by striking each such agency or instrumentality and inserting each such agency2 7#c7 in the flush left matter following paragraph 7#c71 by striking ,each such agency or instrumentality and inserting the following3 7b7 ,additional standards ,each such agency described under subsection 7a7 2 and 7#d7 by adding at the end the following new subsection3 7c7 ,exemption for certain mortgage loans ,each such agency described under subsection 7a7 shall exempt1 by rule1 a real estate appraisal or evaluation conducted in connection with a mortgage loan of #bej1jjj or less from the standards prescribed under this section1 if such loan appears on the balance sheet of the creditor of such loan for a period of not less than #c years4 4 #d4 ,changes required to small bank holding company policy statement on assessment of financial and managerial factors ,before the end of the #f-month period beginning on the date of the enactment of this ,act1 the ,board of ,governors of the ,federal ,reserve ,system shall revise the ,small ,bank ,holding ,company ,policy ,statement on ,assessment of ,financial and ,managerial ,factors 7#ab ,c4,f4,r4 part #bbe--;appendix ,c7 to raise the consolidated asset threshold under such policy statement from #a1jjj1jjj1jjj 7as adjusted by ,public ,law #aac-bej7 to #aj1jjj1jjj1jjj4 #e4 ,capital requirements for mortgage servicing assets 7a7 ,repeal of ,basel ,,iii regulations ,not later than the end of the #fj-;day period beginning on the date of the enactment of this ,act1 each ,federal banking agency shall-- 7#a7 repeal all regulations issued by the agency to implement the ,basel ,,iii capital requirements or the ,,ncua capital requirements1 as applicable1 on mortgage servicing assets2 and 7#b7 revive or restore any regulation repealed or revised by a regulation described under paragraph 7#a74 7b7 ,new regulations ,before any final regulation is issued by a ,federal banking agency with respect to capital requirements on mortgage servicing assets1 the ,federal banking agency shall-- 7#a7 issue a new proposed rule for public comment2 7#b7 submit to ,congress a notification of the proposed rule and an explanation for the proposed rule2 and 7#c7 consider-- 7,a7 the history of the market for mortgage servicing assets1 including particularly the market for such assets in the period of the financial crisis2 7,b7 the impact on consumer access to mortgage lending and mortgage servicing2 and 7,c7 competition in the mortgage servicing market1 including analysis of the role community and mid-sized financial institutions play in the mortgage servicing market4 7c7 ,definitions ,for purposes of this section3 7#a7 ,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#b7 ,federal banking agency ,the term ,federal banking agency means the ,board of ,governors of the ,federal ,reserve ,system1 the ,office of the ,comptroller of the ,currency1 the ,federal ,deposit ,insurance ,corporation1 or the ,national ,credit ,union ,administration4 7#c7 ,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#d7 ,,ncua capital requirements ,the term ,,ncua capital requirements means the final rule of the ,national ,credit ,union ,administration entitled ,risk-,based ,capital 7#hj ,fed4 ,reg4 #fffbf 7,oct4 #bi1 #bjae774 #f4 ,bureau ,authority ,over ,unfair and ,deceptive ,acts or ,practices 7a7 ,in general ,section #ajca of the ,consumer ,financial ,protection ,act of #bjaj 7#ab ,u4,s4,c4 #eeca7 is amended-- 7#a7 in the heading of such section1 by striking 1 deceptive1 or abusive and inserting or deceptive2 7#b7 in subsection 7a7-- 7,a7 by striking 1 deceptive1 or abusive and inserting or deceptive2 and 7,b7 by adding at the end the following3 ,the ,bureau may not take any action described under this subsection against a covered person or service provider unless the ,bureau first consults the covered person or service provider's primary financial regulatory agency1 if any42 7#c7 in subsection 7b7-- 7,a7 by striking 1 deceptive1 or abusive and inserting or deceptive2 and 7,b7 by inserting at the end the following3 ,in prescribing any rule under this subsection1 the ,bureau shall comply with the requirements of section #ah of the ,federal ,trade ,commission ,act 7#ae ,u4,s4,c4 #eg;a7 applicable to the ,federal ,trade ,commission when the ,commission prescribes rules and general statements of policy under that section with respect to unfair or deceptive acts or practices in or affecting commerce42 7#d7 by striking subsection 7d72 and 7#e7 by redesignating subsections 7e7 and 7f7 as subsections 7d7 and 7e71 respectively4 7b7 ,conforming amendments 7#a7 ,consumer financial protection act of #bjaj ,the ,consumer ,financial ,protection ,act of #bjaj 7#ab ,u4,s4,c4 #edha et seq47 is amended-- 7,a7 by striking 1 deceptive1 and abusive each place such term appears and inserting and deceptive2 and 7,b7 by striking 1 deceptive1 or abusive each place such term appears and inserting or deceptive4 7#b7 ,dodd-frank wall street reform and consumer protection act ,the table of contents in section #a7;b7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act is amended1 in the item relating to section #ajca1 by striking 1 deceptive1 or abusive and inserting or deceptive4 7#c7 ,omnibus appropriations act1 #bjji ,section #fbf7;a77#a7 of the ,omnibus ,appropriations ,act1 #bjji 7#ae ,u4,s4,c4 #afch note7 is amended by striking 1 deceptive1 or abusive and inserting or deceptive4 #g4 ,amendments to the ,equal ,credit ,opportunity ,act and the ,fair ,housing ,act to require intent to discriminate 7a7 ,amendment to ,equal ,credit ,opportunity ,act ,subsection 7a7 of section #gja of the ,equal ,credit ,opportunity ,act 7#ae ,u4,s4,c4 #afia7;a77 is amended by inserting intentionally before discriminate4 7b7 ,amendment to ,fair ,housing ,act ,the ,fair ,housing ,act 7#db ,u4,s4,c4 #cfja et seq47 is amended-- 7#a7 in section #hjd-- 7,a7 by inserting intentionally before discriminate each place such term appears2 7,b7 in subsection 7a71 by inserting intentionally before refuse2 7,c7 in subsection 7c7-- 7i7 by inserting intentionally before make2 and 7ii7 by inserting intentionally before cause2 7,d7 in subsection 7d71 by inserting intentionally before represent2 and 7,e7 in subsection 7e71 by striking induce or attempt and inserting intentionally induce or intentionally attempt2 7#b7 in section #hje1 by inserting intentionally before discriminate2 and 7#c7 in section #hjf1 by inserting intentionally before discriminate4 #h4 ,amendments to the ,home ,mortgage ,disclosure ,act of #aige 7a7 ,loan volume threshold ,section #cjd7;i7 of the ,home ,mortgage ,disclosure ,act of #aige 7#ab ,u4,s4,c4 #bhjc7;i77 is amended to read as follows3 7i7 ,exemption ,from ,certain ,disclosure ,requirements 7#a7 ,in general ,the requirements of subsections 7b77#d71 7b77#e71 and 7b77#f7 shall not apply with respect to any depository institution described in section #cjc7b77;,a74 7#b7 ,closed-end mortgage loans ,with respect to a depository institution1 the requirements of subsections 7a7 and 7b7 shall not apply with respect to closed-end mortgage loans if the depository institution originated less than #a1jjj closed-end mortgage loans in each of the #b preceding calendar years4 7#c7 ,open-end lines of credit ,with respect to a depository institution1 the requirements of subsections 7a7 and 7b7 shall not apply with respect to open-end lines of credit if the depository institution originated less than #b1jjj open-end lines of credit in each of the #b preceding calendar years4 4 7b7 ,data points ,section #cjd7;b7 of the ,home ,mortgage ,disclosure ,act of #aige 7#ab ,u4,s4,c4 #bhjc7;b77 is amended-- 7#a7 by striking paragraphs 7#e7 and 7#f72 7#b7 in paragraph 7#c71 by inserting and at the end2 and 7#c7 in paragraph 7#d71 by striking age44 #i4 ,repeal of small business loan collection data 7a7 ,repeal ,section #gjd;,b of the ,equal ,credit ,opportunity ,act 7#ae ,u4,s4,c4 #afia;c-#b7 is repealed4 7b7 ,clerical amendment ,the table of sections for title ,,vii of the ,consumer ,credit ,protection ,act is amended by striking the item relating to section #gjd;,b4 #aj4 ,requirements for deposit account termination requests and orders 7a7 ,termination requests or orders must be material 7#a7 ,in general ,an appropriate ,federal banking agency may not formally or informally request or order a depository institution to terminate a specific customer account or group of customer accounts or to otherwise restrict or discourage a depository institution from entering into or maintaining a banking relationship with a specific customer or group of customers unless-- 7,a7 the agency has a material reason for such request or order2 and 7,b7 such reason is not based solely on reputation risk4 7#b7 ,treatment of national security threats ,if an appropriate ,federal banking agency believes a specific customer or group of customers is1 or is acting as a conduit for1 an entity which-- 7,a7 poses a threat to national security2 7,b7 is involved in terrorist financing2 7,c7 is an agency of the government of ,iran1 ,north ,korea1 ,syria1 or any country listed from time to time on the ,state ,sponsors of ,terrorism list2 7,d7 is located in1 or is subject to the jurisdiction of1 any country specified in subparagraph 7,c72 or 7,e7 does business with any entity described in subparagraph 7,c7 or 7,d71 unless the appropriate ,federal banking agency determines that the customer or group of customers has used due diligence to avoid doing business with any entity described in subparagraph 7,c7 or 7,d71 such belief shall satisfy the requirement under paragraph 7#a74 7b7 ,notice requirement 7#a7 ,in general ,if an appropriate ,federal banking agency formally or informally requests or orders a depository institution to terminate a specific customer account or a group of customer accounts1 the agency shall-- 7,a7 provide such request or order to the institution in writing2 and 7,b7 accompany such request or order with a written justification for why such termination is needed1 including any specific laws or regulations the agency believes are being violated by the customer or group of customers1 if any4 7#b7 ,justification requirement ,a justification described under paragraph 7#a77;,b7 may not be based solely on the reputation risk to the depository institution4 7c7 ,customer notice 7#a7 ,notice not required ,nothing in this section shall be construed as requiring a depository institution or an appropriate ,federal banking agency to inform a customer or customers of the justification for the customer's account termination described under subsection 7b74 7#b7 ,notice prohibited in cases of national security ,if an appropriate ,federal banking agency requests or orders a depository institution to terminate a specific customer account or a group of customer accounts based on a belief that the customer or customers pose a threat to national security1 neither the depository institution nor the appropriate ,federal banking agency may inform the customer or customers of the justification for the customer's account termination4 7d7 ,reporting requirement ,each appropriate ,federal banking agency shall issue an annual report to the ,congress stating-- 7#a7 the aggregate number of specific customer accounts that the agency requested or ordered a depository institution to terminate during the previous year2 and 7#b7 the legal authority on which the agency relied in making such requests and orders and the frequency on which the agency relied on each such authority4 7e7 ,definitions ,for purposes of this section3 7#a7 ,appropriate federal banking agency ,the term appropriate ,federal banking agency means-- 7,a7 the appropriate ,federal banking agency1 as defined under section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac72 and 7,b7 the ,national ,credit ,union ,administration1 in the case of an insured credit union4 7#b7 ,depository institution ,the term depository institution means-- 7,a7 a depository institution1 as defined under section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac72 and 7,b7 an insured credit union4 #aa4 ,amendments to civil penalties under ,,firrea ,section #iea of the ,financial ,institutions ,reform1 ,recovery1 and ,enforcement ,act of #aihi 7#ab ,u4,s4,c4 #ahcc;a7 is amended-- 7#a7 in subsection 7c77#b71 by striking affecting a federally insured financial institution and inserting against a federally insured financial institution or by a federally insured financial institution against an unaffiliated third person2 and 7#b7 in subsection 7g7-- 7,a7 in the header1 by striking ,subpoenas and inserting ,investigations2 and 7,b7 by amending paragraph 7#a77;,c7 to read as follows3 7,c7 summon witnesses and require the production of any books1 papers1 correspondence1 memoranda1 or other records which the ,attorney ,general deems relevant or material to the inquiry1 if the ,attorney ,general-- 7i7 requests a court order from a court of competent jurisdiction for such actions and offers specific and articulable facts showing that there are reasonable grounds to believe that the information or testimony sought is relevant and material for conducting an investigation under this section2 or 7ii7 either personally or through delegation no lower than the ,deputy ,attorney ,general1 issues and signs a subpoena for such actions and such subpoena is supported by specific and articulable facts showing that there are reasonable grounds to believe that the information or testimony sought is relevant for conducting an investigation under this section4 4 #ab4 ,waiver of waiting period ,not later than #abj days after the date of the enactment of this ,act1 the ,bureau of ,consumer ,financial ,protection shall issue regulations establishing a process to waive the requirement relating to the timing of providing closing disclosures for mortgage loans described under section #ajbf4ai7;f77#a77;ii7 of title #ab1 ,code of ,federal ,regulations4 #ac4 ,limit on ,bureau ,supervision ,the ,consumer ,financial ,protection ,act of #bjaj 7#ab ,u4,s4,c4 #edha et seq47 is amended-- 7#a7 in section #ajbe7;a71 by striking #aj1jjj1jjj1jjj each place such term appears and inserting #ej1jjj1jjj1jjj2 and 7#b7 in section #ajbf7;a71 by striking #aj1jjj1jjj1jjj each place such term appears and inserting #ej1jjj1jjj1jjj4 #ad4 ,limited exception for reciprocal deposits 7a7 ,in general ,section #bi of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahca;f7 is amended by adding at the end the following new subsection3 7a7 ,limited exception for reciprocal deposits 7#a7 ,in general ,reciprocal deposits of an insured depository institution shall not be considered to be funds obtained1 directly or indirectly1 by or through a deposit broker if-- 7,a7 when the institution was most recently examined1 its composite condition was found to be outstanding or good2 or 7,b7 the total amount of such reciprocal deposits does not exceed the lesser of-- 7i7 #aj1jjj1jjj1jjj2 or 7ii7 an amount equal to #bj percent of the total liabilities of the insured depository institution4 7#b7 ,rule of construction ,nothing in this subsection shall be construed to limit the authority of the ,corporation to require1 on a case-by-case basis1 that an agent institution that is less than adequately capitalized 7as defined in section #ch7;b77#a77;,b77 not accept particular types of deposits upon finding that the acceptance of such deposits constitutes an unsafe or unsound practice with respect to such institution4 7#c7 ,definitions ,in this subsection3 7,a7 ,agent institution ,the term agent institution means an insured depository institution that places a covered deposit through a deposit placement network at other insured depository institutions in amounts that are less than or equal to the standard maximum deposit insurance amount1 specifying the interest rate to be paid for such amounts1 where the agent institution-- 7i7 is well capitalized 7as defined in section #ch7;b77#a77;,a77 or has obtained a waiver pursuant to subsection 7c7 of this section2 or 7ii7 does not receive an amount of reciprocal deposits that causes the total amount of reciprocal deposits held by the agent institution to be greater than the average of the total amount of reciprocal deposits held by the agent institution on the last day of each of the #d calendar quarters preceding the calendar quarter in which the agent institution was determined to be not well capitalized4 7,b7 ,covered deposit ,the term covered deposit means a deposit that-- 7i7 is submitted for placement through a deposit placement network by an agent institution2 and 7ii7 does not consist of funds that were obtained for the agent institution1 directly or indirectly1 by or through a deposit broker before submission for placement through a deposit placement network4 7,c7 ,deposit placement network ,the term deposit placement network means a network in which an insured depository institution participates1 together with other insured depository institutions1 for the processing and receipt of reciprocal deposits4 7,d7 ,network member bank ,the term network member bank means an insured depository institution that is a member of a deposit placement network4 7,e7 ,reciprocal deposits ,the term reciprocal deposits means deposits received by an agent institution through a deposit placement network with the same maturity 7if any7 and in the same aggregate amount as covered deposits placed by the agent institution in other network member banks4 4 7b7 ,applicability ,nothing in this ,act shall be construed to limit the application of any provision of the ,federal ,deposit ,insurance ,act1 other than section #bi of such ,act 7#ab ,u4,s4,c4 #ahca;f71 to an insured depository institution 7as defined in section #c7;c7 of such ,act 7#ab ,u4,s4,c4 #ahac7;c7774 #ae4 ,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 depository institutions 7,a7 ,in general ,a creditor that is a 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 a depository institution that transfers a loan originated by that institution to another depository institution by reason of the bankruptcy or failure of the originating depository institution or the purchase of the originating depository institution1 the 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 a 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 agencies1 the ,bureau1 and the ,national ,credit ,union ,administration4 7,b7 ,depository institution ,the term depository institution has the meaning given that term under section #ai7;b77#a7 of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #eje7;b77#a774 7,c7 ,federal banking agencies ,the term ,federal banking agencies has the meaning given that term 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 #af4 ,amendments to ability to pay requirements for mortgage loans ,section #abi;,c7b77#c7 of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afci;,c7b77#c77 is amended-- 7#a7 by amending subparagraph 7,a7 to read as follows3 7,a7 ,in general 7i7 ,bureau regulations ,the ,bureau shall prescribe regulations to carry out the purposes of this subsection1 except that the ,bureau may not prescribe any regulation that addresses modifies any provision of paragraph 7#b77;,a77iii71 or that addresses modifies any rule promulgated by the ,federal ,housing ,finance ,agency pursuant to subparagraph 7,b77i74 ,any existing regulation of the ,bureau that addresses modifies paragraph 7#b77;,a77iii7 shall have no force or effect as of the date the ,federal ,housing ,finance ,agency prescribes a rule pursuant to subparagraph 7,b77i77,,ii74 7ii7 ,federal ,housing ,finance ,agency regulations ,the ,federal ,housing ,finance ,agency shall only prescribe regulations to carry out the purposes of paragraph 7#b77;,a77iii74 ,the ,federal ,housing ,finance ,agency may not prescribe any regulation that addresses modifies any requirement under clause 7i71 7ii71 7iv71 7v71 7vi71 7vii71 7viii71 or 7ix7 of paragraph 7#b77;,a71 or that addresses modifies any rule promulgated by the ,bureau pursuant to clause 7i7 or subparagraph 7,b77i77,i74 2 7#b7 in subparagraph 7,b7-- 7,a7 by striking ,the ,board may and inserting 7,i7 ,bureau regulations ,the ,bureau may 4 7,b7 in subclause 7,i71 as designated by subparagraph 7,a71 by striking compliance with such actions and inserting 1 except that the ,bureau may not prescribe any regulation that violates the provisions of subparagraph 7,a74 ,the ,bureau may not eliminate any requirement or add any new requirement under clause 7i71 7ii71 7iv71 7v71 7vi71 7vii71 7viii71 or 7ix7 of paragraph 7#b77;,a7 unless it does so by prescribing a rule enacted pursuant to the procedures set forth in section #eec of title #e1 ,united ,states ,code2 7,c7 in clause 7i71 by adding at the end the following new subclause3 7,,ii7 ,federal ,housing ,finance ,agency regulations ,not later than #ahj days after the date of the enactment of this subclause1 the ,federal ,housing ,finance ,agency shall prescribe regulations to carry out the requirements of paragraph 7#b77;,a77iii74 ,notwithstanding the procedures set forth in section #eec of title #e1 ,united ,states ,code1 the ,federal ,housing ,finance ,agency shall review its promulgated standards under such paragraph at least annually1 and shall publish any proposed adjustments to such standards in the ,federal ,register4 ,the ,federal ,housing ,finance ,agency may not eliminate any requirement or add any new requirement under paragraph 7#b77;,a77iii7 unless it does so by prescribing a rule enacted pursuant to the procedures set forth in section #eec of title #e1 ,united ,states ,code4 2 and 7,d7 in clause 7ii71 by striking with the ,board and inserting with the ,bureau with respect to the requirements under clauses 7i71 7ii71 7iv71 7v71 7vi71 7vii71 7viii71 and 7ix7 of paragraph 7#b77;,a71 and in consultation with the ,federal ,housing ,finance ,agency with respect to the requirement under paragraph 7#b77;,a77iii74