,,ii  #aaeth ,,congress  #ast ,session  
,s4 #acae  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #h1      
#bjag,ms4 ,heitkamp 7for herself and    
,mr4 ,portman7 introduced the following 
bill2 which was read twice and referred 
to the ,committee on ,banking1 ,housing1
 and ,urban ,affairs  ,a ,,bill  ,to    
require the ,bureau of ,consumer        
,financial ,protection to amend its     
regulations relating to qualified       
mortgages1 and for other purposes4  #a4 
,short title ,this ,act may be cited as 
the ,relationship ,lending ,preservation
 ,act of #bjag4  #b4 ,qualified mortgage
 amendment  7a7 ,definitions ,in this   
section-- 7#a7 the term affiliate has   
the meaning given the term in section   
#b7k7 of the ,bank ,holding ,company    
,act of #aief 7#ab ,u4,s4,c4 #ahda7k772 
7#b7 the term ,bureau means the ,bureau 
of ,consumer ,financial ,protection2    
7#c7 the terms community financial      
institution and ,federal ,home ,loan    
,bank ,system have the meanings given   

those terms in section #b of the        
,federal ,home ,loan ,bank ,act 7#ab    
,u4,s4,c4 #adbb72  7#d7 the term        
creditor has the meaning given that term
 in section #ajc of the ,truth in       
,lending ,act 7#ae ,u4,s4,c4 #afjb72    
7#e7 the term ,federal ,home ,loan ,bank
 means a bank established under the     
authority of the ,federal ,home ,loan   
,bank ,act 7#ab ,u4,s4,c4 #adba et      
seq472 and  7#f7 the term qualified     
mortgage has the meaning given the term 
in section #abi;,c7b77#b77;,a7 of the   
,truth in ,lending ,act 7#ae ,u4,s4,c4  
#afci;c7b77#b77;,a774  7b7 ,requirement 
,to issue regulations ,not later than #i
 months after the date of enactment of  
this ,act1 the ,bureau shall issue      
regulations that provide that the term  
qualified mortgage includes any mortgage
 loan that--  7#a7 is extended by a     
creditor that-- 7,a7 together with its  
affiliates1 has less than               
#aj1jjj1jjj1jjj in total consolidated   
assets2 and  7,b7 is a member of a      

,federal ,home ,loan ,bank2  7#b7 meets 
the requirements of clauses 7i71 7ii71  
7iv71 7v71 7vii71 and 7viii7 of section 
#abi;,c7b77#b77;,a7 of the ,truth in    
,lending ,act 7#ae ,u4,s4,c4            
#afci;c7b77#b77;,a772  7#c7 is eligible 
to be purchased by a ,federal ,home     
,loan ,bank pursuant to requirements    
established by the ,federal ,home ,loan 
,bank1 including underwriting and       
documentation requirements2 and  7#d7 is
 eligible to be purchased and is held by
 a ,federal ,home ,loan ,bank pursuant  
to regulations issued by the ,federal   
,housing ,finance ,agency4  7c7         
,assessment of regulations  7#a7 ,in    
general ,the ,bureau shall conduct1 in  
consultation with the ,federal ,housing 
,finance ,agency1 an assessment of the  
regulations issued under subsection 7b71
 which shall--  7,a7 address1 among     
other relevant factors1 the usage of the
 regulations by community financial     
institutions1 the impact of the         
regulations on access to residential    

mortgage loans1 and whether the ,federal
 ,home ,loan ,banks have established    
underwriting and documentation          
requirements2 and  7,b7 reflect         
available evidence and any data that the
 ,bureau reasonably may collect4  7#b7  
,report ,not later than #d years after  
the date on which the ,bureau issues the
 regulations under subsection 7b71 the  
,bureau shall publish and submit to the 
,committee on ,banking1 ,housing1 and   
,urban ,affairs of the ,senate and the  
,committee on ,financial ,services of   
the ,house of ,representatives a report 
on the assessment conducted under       
paragraph 7#a74  7#c7 ,public comment   
required ,before publishing the report  
under paragraph 7#b71 the ,bureau shall 
invite public comment on recommendations
 for modifying1 expanding1 or           
eliminating the regulations issued under
 subsection 7b74  7d7 ,revision of      
regulations ,beginning #e years after   
the date on which the ,bureau issues the
 regulations under subsection 7b71 the  

,bureau may revise those regulations if 
the ,bureau determines that the revision
 is necessary--  7#a7 to protect the    
safety of mortgage loan borrowers or    
lenders2 or  7#b7 to increase access to 
mortgage credit4