,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #bbbf  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,april #bh1 #bjag,mr4 
,b>r 7= himself1 ,mr4 ,amodei1 ,mr4     
,emm]1 ,mr4 ,hill1 ,mr4 ,hultgr51 ,mr4  
,johnson ( ,ohio1 ,mr4 ,lucas1 ,mr4     
,luetkemey]1 ,mr4 ,m>*ant1 ,mr4 ,mess]1 
,mr4 ,pe>ce1 ,mr4 ,pitt5g]1 ,mr4        
,poliqu91 ,mr4 ,royce ( ,cali=nia1 ,mr4 
,ro?fus1 ,mr4 ,/ew>t1 ,mr4 ,/iv]s1 ,mr4 
,tipton1 ,mrs4 ,wagn]1 ,mr4 ,walb]g1    
,mr4 ,williams1 ,mr4 ,davidson1 ,mr4 ,k+
 ( ,new ,york1 ,mr4 ,l\d]milk1 ,mr4     
,mc,henry1 ,mr4 ,posey1 ,mr4 ,ku/(f (   
,t5nessee1 ,mr4 ,huiz5ga1 ,mr4          
,holl+swor?1 ,mr4 ,duffy1 ,mr4 ,trott1 &
 ,mr4 ,blum7 introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices  ,a ,,bill  ,to am5d 
! ,tru? 9 ,l5d+ ,act to provide a safe  
h>bor f c]ta9 requirem5ts relat$ to     
qualifi$ mortgages = resid5tial mortgage
 loans held on an orig9at+ depository   
in/itution's portfolio1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may

 be cit$ z ! ,portfolio ,l5d+ &         
,mortgage ,access ,act4  #b4 ,safe h>bor
 = c]ta9 loans held on portfolio  7a7 ,9
 g5]al ,section #abi;,c ( ! ,tru? 9     
,l5d+ ,act 7#ae ,u4,s4,c4 #afci;c7 is   
am5d$ by add+ at ! end ! foll[+3  7j7   
,safe h>bor = c]ta9 loans held on       
portfolio  7#a7 ,safe h>bor = cr$itors t
 are depository in/itutions  7,a7 ,9    
g5]al ,a cr$itor t is a depository      
in/itution %all n be subject to suit =  
failure to comply ) subsection 7a71     
7c77#a71 or 7f77#b7 ( ?is section or    
section #abi;,h ) respect to a          
resid5tial mortgage loan1 & ! bank+     
regulators %all treat su* loan z a      
qualifi$ mortgage1 if--  7i7 ! cr$itor  
has1 s9ce ! orig9ation ( ! loan1 held ! 
loan on ! balance %eet ( ! cr$itor2 &   
7ii7 all prepaym5t p5alties ) respect to
 ! loan comply ) ! limitations describ$ 
"u subsection 7c77#c74  7,b7 ,exception 
= c]ta9 transf]s ,9 ! case ( a          
depository in/itution t transf]s a loan 
orig9at$ by t in/itution to ano!r       

depository in/itution by reason ( !     
bankruptcy or failure ( ! orig9at+      
depository in/itution or ! pur*ase ( !  
orig9at+ depository in/itution1 !       
depository in/itution transf]r+ su* loan
 %all be deem$ to h compli$ ) !         
requirem5t "u subp>agraph 7,a77i74  7#b7
 ,safe h>bor = mortgage orig9ators ,a   
mortgage orig9ator %all n be subject to 
suit = a violation ( section            
#abi;,b7c77#c77;,b7 = /e]+ a consum] to 
a resid5tial mortgage loan if--  7,a7 ! 
cr$itor ( su* loan is a depository      
in/itution & has in=m$ ! mortgage       
orig9ator t ! cr$itor int5ds to hold !  
loan on ! balance %eet ( ! cr$itor = !  
life ( ! loan2 &  7,b7 ! mortgage       
orig9ator in=ms ! consum] t ! cr$itor   
int5ds to hold ! loan on ! balance %eet 
( ! cr$itor = ! life ( ! loan4  7#c7    
,def9itions ,= purposes ( ?is           
subsection3 7,a7 ,bank+ regulators ,!   
t]m bank+ regulators means ! ,f$]al     
bank+ ag5cies1 ! ,bureau1 & ! ,national 
,cr$it ,union ,adm9i/ration4  7,b7      

,depository in/itution ,! t]m depository
 in/itution has ! mean+ giv5 t t]m "u   
section #ai7;b77#a7 ( ! ,f$]al ,res]ve  
,act 7#ab ,u4,s4,c4 #eje7;b77#a774  7,c7
 ,f$]al bank+ ag5cies ,! t]m ,f$]al     
bank+ ag5cies has ! mean+ giv5 t t]m "u 
section #c ( ! ,f$]al ,deposit          
,insurance ,act4  4  7b7 ,rule (        
con/ruction ,no?+ 9 ! am5dm5t made by   
?is ,act may be con/ru$ z prev5t+ a     
balloon loan f qualify+ = ! safe h>bor  
provid$ "u section #abi;,c7j7 ( ! ,tru? 
9 ,l5d+ ,act if ! balloon loan o!rwise  
meets all ( ! requirem5ts "u su*        
subsection 7j71 reg>dless ( :e!r !      
balloon loan meets ! requirem5ts        
describ$ "u clauses 7i7 ?r\gh 7iv7 (    
section #abi;,c7b77#b77;,e7 ( su* ,act4