,,ib  ,union ,calendar ,no4 #dch  #aaeth
 ,,congress  #b;d ,session  ,h4 ,r4     
#bbbf  ,report ,no4 #aae-egh  ,,in ,,the
 ,,house ,,of ,,representatives  ,april 
#bh1 #bjag ,mr4 ,barr 7for himself1 ,mr4
 ,amodei1 ,mr4 ,emmer1 ,mr4 ,hill1 ,mr4 
,hultgren1 ,mr4 ,johnson of ,ohio1 ,mr4 
,lucas1 ,mr4 ,luetkemeyer1 ,mr4         
,marchant1 ,mr4 ,messer1 ,mr4 ,pearce1  
,mr4 ,pittenger1 ,mr4 ,poliquin1 ,mr4   
,royce of ,california1 ,mr4 ,rothfus1   
,mr4 ,stewart1 ,mr4 ,stivers1 ,mr4      
,tipton1 ,mrs4 ,wagner1 ,mr4 ,walberg1  
,mr4 ,williams1 ,mr4 ,davidson1 ,mr4    
,king of ,new ,york1 ,mr4 ,loudermilk1  
,mr4 ,mc,henry1 ,mr4 ,posey1 ,mr4       
,kustoff of ,tennessee1 ,mr4 ,huizenga1 
,mr4 ,hollingsworth1 ,mr4 ,duffy1 ,mr4  
,trott1 and ,mr4 ,blum7 introduced the  
following bill2 which was referred to   
the ,committee on ,financial ,services  
,february #bc1 #bjah ,additional        
sponsors3 ,mr4 ,arrington1 ,ms4 ,tenney1
 ,mr4 ,ross1 ,mr4 ,king of ,iowa1 ,mr4  
,poe of ,texas1 ,mr4 ,coffman1 ,mr4     

,womack1 ,mr4 ,cole1 and ,mr4 ,brendan  
,f4 ,boyle of ,pennsylvania  ,february  
#bc1 #bjah ,reported with an amendment1 
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed ,for  
text of introduced bill1 see copy of    
bill as introduced on ,april #bh1 #bjag 
,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   
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 ,minimum standards   
for residential mortgage loans ,section 
#abi;,c7b7 of the ,truth in ,lending    
,act 7#ae ,u4,s4,c4 #afci;c7b77 is      
amended by adding at the end the        
following3  7#d7 ,safe harbor  7,a7 ,in 
general ,a residential mortgage loan    
shall be deemed a qualified mortgage    

loan for purposes of this subsection if 
the loan-- 7i7 is originated by1 and    
continuously retained in the portfolio  
of1 a covered institution2  7ii7 is in  
compliance with the limitations with    
respect to prepayment penalties         
described in subsections 7c77#a7 and    
7c77#c72  7iii7 is in compliance with   
the requirements related to points and  
fees under paragraph 7#b77;,a77vii72    
7iv7 does not have negative amortization
 terms or interest-only terms2 and  7v7 
is a loan for which the covered         
institution considers1 documents1 and   
verifies the debt1 income1 and financial
 resources of the consumer in accordance
 with subparagraph 7,c74  7,b7          
,exception for certain transfers        
,subparagraph 7,a7 shall not apply to a 
residential mortgage loan if the legal  
title to such residential mortgage loan 
is sold1 assigned1 or otherwise         
transferred to another person unless the
 legal title to such residential        
mortgage loan is sold1 assigned1 or     

otherwise transferred-- 7i7 to another  
person by reason of the bankruptcy or   
failure of the covered institution that 
originated such loan2  7ii7 to an       
insured depository institution or       
insured credit union that has less than 
#aj1jjj1jjj1jjj in total consolidated   
assets on the date of such sale1        
assignment1 or transfer1 if the loan is 
retained in portfolio by such insured   
depository institution or insured credit
 union2  7iii7 pursuant to a merger of  
the covered institution that originated 
such loan with another person or the    
acquisition of a the covered institution
 that originated such loan by another   
person or of another person by a covered
 institution1 if the loan is retained in
 portfolio by the person to whom the    
loan is sold1 assigned1 or otherwise    
transferred2 or  7iv7 to a wholly owned 
subsidiary of the covered institution   
that originated such loan if the loan is
 considered to be an asset of such      
covered institution for regulatory      

accounting purposes4  7,c7              
,consideration and documentation        
requirements ,the consideration and     
documentation requirements described in 
subparagraph 7,a77v7 shall--  7i7 not be
 construed to require compliance with1  
or documentation in accordance with1    
appendix ,q to part #ajbf of title #ab1 
,code of ,federal ,regulations1 or any  
successor regulation2 and  7ii7 be      
construed to permit multiple methods of 
documentation4  7,d7 ,definitions ,in   
this paragraph-- 7i7 the term covered   
institution means an insured depository 
institution or an insured credit union  
that1 together with its affiliates1 has 
less than #aj1jjj1jjj1jjj in total      
consolidated assets on the date on the  
origination of a residential mortgage   
loan2  7ii7 the term insured credit     
union has the meaning given the term in 
section #aja of the ,federal ,credit    
,union ,act 7#ab ,u4,s4,c4 #ageb72      
7iii7 the term insured depository       
institution has the meaning given the   

term in section #c of the ,federal      
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac72  7iv7 the term interest-only    
term means a term of a residential      
mortgage loan that allows one or more of
 the periodic payments made under the   
loan to be applied solely to accrued    
interest and not to the principal of the
 loan2 and  7v7 the term negative       
amortization term means a term of a     
residential mortgage loan under which   
the payment of periodic payments will   
result in an increase in the principal  
of the loan4  ,february #bc1 #bjah      
,reported with an amendment1 committed  
to the ,committee of the ,whole ,house  
on the ,state of the ,union1 and ordered
 to be printed