,,ib  ,union ,calendar ,no4 #ddh  #aaeth
 ,,congress  #b;d ,session  ,h4 ,r4     
#cbba  ,report ,no4 #aae-eij  ,,in ,,the
 ,,house ,,of ,,representatives  ,july  
#ac1 #bjag ,mr4 ,kustoff of ,tennessee  
7for himself and ,mr4 ,luetkemeyer7     
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services  ,march #h1        
#bjah;,additional sponsor3 ,ms4 ,tenney 
,march #h1 #bjah ,committed to the      
,committee of the ,whole ,house on the  
,state of the ,union and ordered to be  
printed  ,a ,,bill  ,to provide         
exemptions under the ,truth in ,lending 
,act and the ,financial ,institutions   
,reform1 ,recovery1 and ,enforcement    
,act of #aihi to encourage access to    
affordable mortgages1 and for other     
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,securing ,access to
 ,affordable ,mortgages ,act4  #b4      
,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   
,march #h1 #bjah ,committed to the      
,committee of the ,whole ,house on the  
,state of the ,union and ordered to be  
printed