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 | |
| R-NC | Renee L. Ellmers | Jul 8, 2014 | |
| R-MT | Steve Daines | Jul 8, 2014 | |
| R-OK | Tom Cole | Jul 8, 2014 | |
| R-TN | Charles J. "Chuck" Fleischmann | Jul 9, 2014 | |
| R-OK | James Lankford | Jul 9, 2014 | |
| R-OK | Markwayne Mullin | Jul 9, 2014 | |
| R-MS | Gregg Harper | Jul 15, 2014 | |
| R-NC | Mark Meadows | Jul 15, 2014 | |
| R-NC | Walter B. Jones | Jul 15, 2014 | |
| R-UT | Chris Stewart | Jul 16, 2014 | |
| R-UT | Rob Bishop | Jul 17, 2014 | |
| R-TN | Stephen Lee Fincher | Jul 17, 2014 | |
| R-MS | Steven M. Palazzo | Jul 22, 2014 | |
| R-KS | Tim Huelskamp | Jul 22, 2014 | |
| R-LA | Steve Scalise | Jul 23, 2014 | |
| R-LA | Charles W. Boustany, Jr. | Jul 24, 2014 | |
| R-UT | Jason Chaffetz | Jul 24, 2014 | |
| R-TN | John J. Duncan, Jr. | Jul 24, 2014 | |
| R-TX | Pete Sessions | Jul 24, 2014 | |
| R-IA | Tom Latham | Jul 24, 2014 | |
| R-FL | Richard B. Nugent | Jul 25, 2014 | |
| R-MS | Alan Nunnelee | Jul 29, 2014 | |
| R-PA | Mike Kelly | Jul 29, 2014 | |
| R-OH | Robert E. Latta | Jul 29, 2014 | |
| R-OH | Brad R. Wenstrup | Jul 30, 2014 | |
| R-LA | John Fleming | Jul 30, 2014 | |
| R-PA | Keith J. Rothfus | Jul 31, 2014 | |
| R-CO | Scott R. Tipton | Jul 31, 2014 | |
| R-CO | Cory Gardner | Sep 8, 2014 | |
| R-CO | Doug Lamborn | Sep 8, 2014 | |
| R-KY | Ed Whitfield | Sep 8, 2014 | |
| R-MN | Erik Paulsen | Sep 8, 2014 | |
| D-GA | John Barrow | Sep 8, 2014 | |
| R-TN | Marsha Blackburn | Sep 8, 2014 | |
| D-NY | William L. Owens | Sep 8, 2014 | |
| R-NY | Christopher P. Gibson | Sep 9, 2014 | |
| D-TN | Jim Cooper | Sep 9, 2014 | |
| R-MN | John Kline | Sep 9, 2014 | |
| D-MN | Collin C. Peterson | Sep 11, 2014 | |
| R-PA | Tom Marino | Nov 18, 2014 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jul 11, 2013Markup May 22, 2014 |
| Senate | Banking, Housing, and Urban Affairs Committee | Hearings Sep 16, 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.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Congressional Budget Office cost estimate
- Sep 3, 2014H.R. 2673, Portfolio Lending and Mortgage Access ActAs ordered reported by the House Committee on Financial Services on May 22, 2014
Constitutional authority
The sponsor’s statement, as printed in the page H4484.
Printed hearings 3
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| S. Hrg. 113-535 | EXAMINING THE STATE OF SMALL DEPOSITORY INSTITUTIONS284 pages | Banking, Housing, and Urban Affairs Committee | Sep 16, 2014 |
| Serial No. 113-94 | ASSESSING THE IMPACT OF THE DODD-FRANK ACT FOUR YEARS LATER169 pages | Financial Services Committee | Jul 23, 2014 |
| Serial No. 113-045 | REGULATORY LANDSCAPE: BURDENS ON SMALL FINANCIAL INSTITUTIONS82 pages | Small Business Committee | Dec 3, 2013 |
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R43837 | An Overview of Selected Legislation in the 113th Congress Related to the Consumer Financial Protection Bureau (CFPB) Archived | Report | Dec 29, 2014 |
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 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Truth in Lending Act to provide that residential mortgage loans held on portfolio qualify as qualified mortgages for purposes of the presumption of the ability to repay requirements under such Act.
- Short Titles as Introduced
- Portfolio Lending and Mortgage Access Act
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
