#aafth ,,congress  #b;d ,session  ,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  ,passed the ,senate         
,december #ba1 #bjbj4,secretary