,,ii  #aafth ,,congress  #ast ,session  
,s4 #edj  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,february #be1      
#bjai,mr4 ,warner 7for himself1 ,mr4    
,rounds1 and ,mr4 ,booker7 introduced   
the following bill2 which was read twice
 and referred to the ,committee on      
,banking1 ,housing1 and ,urban ,affairs 
,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