,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #bdde  ,,in ,,the ,,house ,,of  
,,representatives  ,may #a1 #bjai,mr4   
,emmer 7for himself and ,mr4 ,foster7   
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services  ,a ,,bill  ,to    
provide minimum standards for           
transactions secured by a dwelling1 and 
for other purposes4  #a4 ,short title   
,this ,act may be cited as the          
,self-,employed ,mortgage ,access ,act  
of #bjai4  #b4 ,ability to repay  7a7   
,definitions ,in this section--  7#a7   
the term ,appendix ,q means ,appendix ,q
 to part #ajbf of title #ab1 ,code of   
,federal ,regulations2  7#b7 the term   
,bureau means the ,bureau of ,consumer  
,financial ,protection2  7#c7 the terms 
consumer and creditor have the meanings 
given those terms in section #ajbf4b of 
title #ab1 ,code of ,federal            
,regulations2  7#d7 the term enterprise 
has the meaning given the term in       
section #acjc of the ,federal ,housing  

,enterprises ,financial ,safety and     
,soundness ,act of #aiib 7#ab ,u4,s4,c4 
#dejb72 and  7#e7 the term ,federal     
,home ,loan ,bank has the meaning given 
the term in section #b of the ,federal  
,home ,loan ,bank ,act 7#ab ,u4,s4,c4   
#adbb74  7b7 ,determination of creditor 
requirements ,not later than #a year    
after the date of enactment of this     
,act1 the ,bureau shall amend section   
#ajbf4dc of title #ab1 ,code of ,federal
 ,regulations1 to provide that1 with    
respect to any creditor requirements    
under clauses 7v7 and 7vi7 of subsection
 7e77#b7 of that section1 the creditor  
may1 in satisfying those requirements1  
rely on--  7#a7 the standards under     
,appendix ,q2 or  7#b7 a guide or       
handbook that--  7,a7 provides standards
 with respect to determining income and 
debt2 and  7,b7 is maintained by--  7i7 
an enterprise or a ,federal ,home ,loan 
,bank1 subject to the approval of the   
,federal ,housing ,finance ,agency2     
7ii7 the ,department of ,housing and    

,urban ,development with respect to     
carrying out a program under title ,,ii 
of the ,national ,housing ,act 7#ab     
,u4,s4,c4 #agjg et seq472  7iii7 the    
,department of ,veterans ,affairs2  7iv7
 the ,department of ,agriculture with   
respect to carrying out the ,doug       
,bereuter ,section #ejb ,single ,family 
,housing ,loan ,guarantee ,act 7#db     
,u4,s4,c4 #adgb7;h772 or  7v7 the ,rural
 ,housing ,service4