,,ib  ,union ,cal5d> ,no4 #dch  #aae?   
,,congress  #b;d ,session  ,h4 ,r4 #bbbf
  ,report ,no4 #aae-egh  ,,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  ,febru>y #bc1 #bjah 
,additional sponsors3 ,mr4 ,arr+ton1    
,ms4 ,t5ney1 ,mr4 ,ross1 ,mr4 ,k+ (     
,i[a1 ,mr4 ,poe ( ,texas1 ,mr4 ,c(fman1 
,mr4 ,womack1 ,mr4 ,cole1 & ,mr4 ,br5dan
 ,f4 ,boyle ( ,p5nsylvania  ,febru>y    

#bc1 #bjah ,report$ ) an am5dm5t1       
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
pr9t$ ,= text ( introduc$ bill1 see copy
 ( bill z introduc$ on ,april #bh1 #bjag
  ,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 ,m9imum /&>ds = resid5tial   
mortgage loans ,section #abi;,c7b7 ( !  
,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4       
#afci;c7b77 is am5d$ by add+ at ! end ! 
foll[+3  7#d7 ,safe h>bor  7,a7 ,9 g5]al
 ,a resid5tial mortgage loan %all be    
deem$ a qualifi$ mortgage loan =        
purposes ( ?is subsection if ! loan--   
7i7 is orig9at$ by1 & cont9u\sly reta9$ 
9 ! portfolio (1 a cov]$ in/itution2    
7ii7 is 9 compliance ) ! limitations )  
respect to prepaym5t p5alties describ$ 9

 subsections 7c77#a7 & 7c77#c72  7iii7  
is 9 compliance ) ! requirem5ts relat$  
to po9ts & fees "u p>agraph             
7#b77;,a77vii72  7iv7 does n h negative 
amortization t]ms or int]e/-only t]ms2 &
  7v7 is a loan = :i* ! cov]$ in/itution
 consid]s1 docum5ts1 & v]ifies ! debt1  
income1 & f9ancial res\rces ( ! consum] 
9 accordance ) subp>agraph 7,c74  7,b7  
,exception = c]ta9 transf]s ,subp>agraph
 7,a7 %all n apply to a resid5tial      
mortgage loan if ! legal title to su*   
resid5tial mortgage loan is sold1       
assign$1 or o!rwise transf]r$ to ano!r  
p]son unless ! legal title to su*       
resid5tial mortgage loan is sold1       
assign$1 or o!rwise transf]r$-- 7i7 to  
ano!r p]son by reason ( ! bankruptcy or 
failure ( ! cov]$ in/itution t orig9at$ 
su* loan2  7ii7 to an insur$ depository 
in/itution or insur$ cr$it union t has  
less ?an #aj1jjj1jjj1jjj 9 total        
consolidat$ assets on ! date ( su* sale1
 assignm5t1 or transf]1 if ! loan is    
reta9$ 9 portfolio by su* insur$        

depository in/itution or insur$ cr$it   
union2  7iii7 pursuant to a m]g] ( !    
cov]$ in/itution t orig9at$ su* loan )  
ano!r p]son or ! acquisition ( a ! cov]$
 in/itution t orig9at$ su* loan by ano!r
 p]son or ( ano!r p]son by a cov]$      
in/itution1 if ! loan is reta9$ 9       
portfolio by ! p]son to :om ! loan is   
sold1 assign$1 or o!rwise transf]r$2 or 
7iv7 to a :olly own$ subsidi>y ( ! cov]$
 in/itution t orig9at$ su* loan if !    
loan is consid]$ to be an asset ( su*   
cov]$ in/itution = regulatory acc\nt+   
purposes4  7,c7 ,consid]ation &         
docum5tation requirem5ts ,! consid]ation
 & docum5tation requirem5ts describ$ 9  
subp>agraph 7,a77v7 %all--  7i7 n be    
con/ru$ to require compliance )1 or     
docum5tation 9 accordance )1 app5dix ,q 
to "p #ajbf ( title #ab1 ,code ( ,f$]al 
,regulations1 or any successor          
regulation2 &  7ii7 be con/ru$ to p]mit 
multiple me?ods ( docum5tation4  7,d7   
,def9itions ,9 ?is p>agraph-- 7i7 ! t]m 
cov]$ in/itution means an insur$        

depository in/itution or an insur$ cr$it
 union t1 toge!r ) its affiliates1 has  
less ?an #aj1jjj1jjj1jjj 9 total        
consolidat$ assets on ! date on !       
orig9ation ( a resid5tial mortgage loan2
  7ii7 ! t]m insur$ cr$it union has !   
mean+ giv5 ! t]m 9 section #aja ( !     
,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4
 #ageb72  7iii7 ! t]m insur$ depository 
in/itution has ! mean+ giv5 ! t]m 9     
section #c ( ! ,f$]al ,deposit          
,insurance ,act 7#ab ,u4,s4,c4 #ahac72  
7iv7 ! t]m int]e/-only t]m means a t]m (
 a resid5tial mortgage loan t all[s "o  
or m ( ! p]iodic paym5ts made "u ! loan 
to be appli$ solely to accru$ int]e/ & n
 to ! pr9cipal ( ! loan2 &  7v7 ! t]m   
negative amortization t]m means a t]m ( 
a resid5tial mortgage loan "u :i* !     
paym5t ( p]iodic paym5ts w result 9 an  
increase 9 ! pr9cipal ( ! loan4         
,febru>y #bc1 #bjah ,report$ ) an       
am5dm5t1 committ$ to ! ,committee ( !   
,:ole ,h\se on ! ,/ate ( ! ,union1 &    
ord]$ to be pr9t$