#aaeth ,,congress  #b;d ,session  ,h4   
,r4 #eiec  ,,an ,,act  ,to provide      
regulatory relief to charitable         
organizations that provide housing      
assistance1 and for other purposes4  #a4
 ,short title ,this ,act may be cited as
 the ,building ,up ,independent ,lives  
and ,dreams ,act or the ,,build ,act4   
#b4 ,mortgage loan transaction          
disclosure requirements  7a7 ,,tila     
,amendment ,section #aje of the ,truth  
in ,lending ,act 7#ae ,u4,s4,c4 #afjd7  
is amended by inserting after subsection
 7d7 the following3  7e7 ,disclosure for
 charitable mortgage loan transactions  
,with respect to a mortgage loan        
transaction involving a residential     
mortgage loan offered at zero percent   
interest primarily for charitable       
purposes by an organization having      
tax-exempt status under section         
#eja7;c77#c7 of the ,internal ,revenue  
,code of #aihf1 forms ,,hud-#a and ,,gfe
 7as defined under section #ajbd4b7;b7  
of title #ab1 ,code of ,federal         

,regulations71 together with a          
disclosure substantially in the form of 
the ,loan ,model ,form ,h-#b 7as defined
 under ,appendix ,h to section #ajbf of 
title #ab1 ,code of ,federal            
,regulations7 shall1 collectively1 be an
 appropriate model form for purposes of 
subsection 7b74  4  7b7 ,,respa         
amendment ,section #d of the ,real      
,estate ,settlement ,procedures ,act of 
#aigd 7#ab ,u4,s4,c4 #bfjc7 is amended  
by adding at the end the following3  7d7
 ,with respect to a mortgage loan       
transaction involving a residential     
mortgage loan offered at zero percent   
interest primarily for charitable       
purposes1 an organization having        
tax-exempt status under section         
#eja7;c77#c7 of the ,internal ,revenue  
,code of #aihf may use forms ,,hud-#a   
and ,,gfe 7as defined under section     
#ajbd4b7;b7 of title #ab1 ,code of      
,federal ,regulations7 together with a  
disclosure substantially in the form of 
the ,loan ,model ,form ,h-#b 7as defined

 under ,appendix ,h to section #ajbf of 
title #ab1 ,code of ,federal            
,regulations71 collectively1 in lieu of 
the disclosure published under          
subsection 7a74  4  7c7 ,regulations    
,not later than #ahj days after the date
 of the enactment of this ,act1 the     
,director of the ,bureau of ,consumer   
,financial ,protection shall issue such 
regulations as may be necessary to      
implement the amendments made by        
subsections 7a7 and 7b74  7d7 ,effective
 date ,the amendments made by           
subsections 7a7 and 7b7 shall take      
effect on the date of the enactment of  
this ,act4  ,passed the ,house of       
,representatives ,july #aj1             
#bjah4;,clerk4