,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #cech  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bh1 #bjag,mr4  
,ru% introduc$ ! foll[+ bill2 :i* 0     
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to am5d ! ,tru? 9 
,l5d+ ,act to create additional         
requirem5ts = orig9al & new cr$itors (  
mortgage loans 9 ! case ( a sale1       
transf]1 or assignm5t ( a mortgage loan1
 & = o!r purposes4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,mortgage ,sale   
,transp>5cy ,act ( #bjag4  #b4          
,additional requirem5ts = orig9al & new 
cr$itors ( mortgage loans 9 ! case ( a  
sale1 transf]1 or assignm5t ( a mortgage
 loan ,section #aca7;g7 ( ! ,tru? 9     
,l5d+ ,act 7#ae ,u4,s4,c4 #afda7;g77 is 
am5d$--  7#a7 by r$esignat+ p>agraph    
7#b7 z p>agraph 7#c72 &  7#b7 by ins]t+ 
aft] p>agraph 7#a7 ! foll[+ new         
p>agraph3  7#b7 ,additional requirem5ts 
7,a7 ,notice f orig9al cr$itor ,9       
addition to o!r disclosures requir$ by  
?is sub*apt]1 n lat] ?an #ij days be=e !

 date on :i* a cr$itor sells1 transf]s1 
or assigns a mortgage loan to ano!r     
cr$itor1 ! orig9al cr$itor %all notify !
 borr[] 9 writ+ ( su* sale1 transf]1 or 
assignm5t4  7,b7 ,no borr[] liability 9 
case ( error 9 transf] ,) respect to a  
mortgage loan describ$ 9 p>agraph 7#a71 
! borr[] ( su* mortgage loan may n be   
subject to a f9ancial p5alty f ! orig9al
 cr$itor or ! cr$itor t is ! new own] or
 assignee ( su* mortgage loan if ei!r   
cr$itor makes an error1 z det]m9$ by !  
,bureau1 9 ! sale1 transf]1 or assignm5t
 ( su* mortgage loan4  7,c7 ,misdirect$ 
mortgage loan paym5ts ,dur+ ! #ij-;day  
p]iod beg9n+ on ! date on :i* a mortgage
 loan is sold1 transf]r$1 or assign$ to 
ano!r cr$itor1 a borr[] ( ! mortgage    
loan t submits a paym5t on su* mortgage 
loan to ! orig9al cr$itor on or be=e !  
due date = su* paym5t may n be subject  
to a f9ancial p5alty = a late paym5t f !
 cr$itor t is ! new own] or assignee ( !
 mortgage loan4  4