Portfolio Lending and Mortgage Access Act
Latest action · Sep 16, 2014 Committee on Banking, Housing, and Urban Affairs. Hearings held.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 11, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Portfolio Lending and Mortgage Access Act - Amends the Truth in Lending Act with respect to the permission that a creditor may presume that a residential mortgage loan has met the requirement that, at the time the loan is consummated, the consumer has a reasonable ability to repay it, if the loan is a qualified mortgage.
Treats as a qualified mortgage any residential mortgage loan made by a creditor so long as it appears on the creditor's balance sheet (held on portfolio).
Cosponsors 55
Members who signed on, in the order they did. Signatures ran from May 6, 2014 to Nov 18, 2014.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-MO | Blaine Luetkemeyer | May 6, 2014 | |
| R-CA | Gary G. Miller | May 7, 2014 | |
| R-IL | Randy Hultgren | May 20, 2014 | |
| R-AR | Tim Griffin | May 21, 2014 | |
| R-AR | Steve Womack | May 28, 2014 | |
| R-KS | Lynn Jenkins | Jun 5, 2014 | |
| R-LA | Vance M. McAllister | Jun 10, 2014 | |
| R-TX | Blake Farenthold | Jun 18, 2014 | |
| R-OH | Bill Johnson | Jun 19, 2014 | |
| R-WI | Sean P. Duffy | Jun 19, 2014 | |
| R-MO | Billy Long | Jun 23, 2014 | |
| R-OK | Jim Bridenstine | Jun 23, 2014 | |
| R-OK | Frank D. Lucas | Jun 24, 2014 | |
| R-ND | Kevin Cramer | Jun 24, 2014 | |
| R-TN | Diane Black | Jul 3, 2014 |
Actions 5
Everything that happened, newest first.
- Sep 16, 2014Committee on Banking, Housing, and Urban Affairs. Hearings held.
- May 22, 2014Committee Consideration and Mark-up Session Held.
- May 22, 2014Ordered to be Reported by the Yeas and Nays: 36 - 23.
- Jul 11, 2013Introduced in House
- Jul 11, 2013Referred to the House Committee on Financial Services.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2641 | A bill to amend the Truth in Lending Act to provide that residential mortgage loans held in portfolio qualify and qualified mortgages for purposes of the presumption of the ability to repay requirements under such Act, and for other purposes. | Related bill | Jul 22, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jul 11, 2013Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.