,one ,hundred ,sixteenth ,congress of   
the ,united ,states of ,america  #b;d   
,session ,begun and held at the ,city of
 ,washington on ,friday1 the third day  
of ,january1 two thousand and twenty ,s4
 #cga  ,,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 #j percent     
interest with only bonafide and         
reasonable fees and that is primarily   
for charitable purposes by an           

organization described in section       
#eja7;c77#c7 of the ,internal ,revenue  
,code of #aihf and exempt from taxation 
under section #eja7;a7 of such ,code1   
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
 depicted in ,appendix ,h to part #ajbf 
of title #ab1 ,code of ,federal         
,regulations7 shall1 collectively1 be an
 appropriate model form for purposes of 
subsection 7b7 of this section4  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 ,disclosure for         
charitable mortgage loan transactions   
,with respect to a mortgage loan        
transaction involving a residential     
mortgage loan offered at #j percent     
interest with only bonafide and         
reasonable fees and that is primarily   

for charitable purposes1 an organization
 described in section #eja7;c77#c7 of   
the ,internal ,revenue ,code of #aihf   
and exempt from taxation under section  
#eja7;a7 of such ,code 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     
depicted in ,appendix ,h to part #ajbf  
of title #ab1 ,code of ,federal         
,regulations71 collectively1 in lieu of 
the disclosure published under          
subsection 7a7 of this section4  4  7c7 
,effective date ,the amendments made by 
subsections 7a7 and 7b7 shall take      
effect on the date of the enactment of  
this ,act4  ,speaker of the ,house of   
,representatives  ,vice ,president of   
the ,united ,states and ,president of   
the ,senate