HR 3221 · 115th Congress 2017–2019, ended

Securing Access to Affordable Mortgages Act

Introduced Jul 13, 2017 Originated House Sponsor David Kustoff R-TN

Latest action · Mar 8, 2018 Placed on the Union Calendar, Calendar No. 448.

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 13, 2017
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Securing Access to Affordable Mortgages Act

(Sec. 2) This bill amends the Truth in Lending Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to exempt from property appraisal requirements a mortgage loan of $250,000 or less if it appears on the loan creditor's balance sheet for at least three years.

The bill exempts mortgage lenders and others involved in real estate transactions from incurring penalties for failing to report appraiser misconduct.

Cosponsors 2

Members who signed on, in the order they did. Signatures ran from Jul 13, 2017 to Nov 14, 2017; 1 is an original cosponsor, there from the day it was introduced.

Seat	Cosponsor		Signed on
R-MO	Blaine Luetkemeyer	Original	Jul 13, 2017
R-NY	Claudia Tenney		Nov 14, 2017

Committees 1

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 13, 2017Markup Nov 15, 2017Reported Mar 8, 2018
	Consumer Protection and Financial Institutions Subcommittee	Hearings Jul 12, 2017

Actions 7

Everything that happened, newest first.

Mar 8, 2018Reported by the Committee on Financial Services. H. Rept. 115-590.
Mar 8, 2018Placed on the Union Calendar, Calendar No. 448.
Nov 15, 2017Committee Consideration and Mark-up Session Held.
Nov 15, 2017Ordered to be Reported by the Yeas and Nays: 32 - 26.
Jul 13, 2017Introduced in House
Jul 13, 2017Referred to the House Committee on Financial Services.
Jul 12, 2017Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.

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.

Committee report

H. Rept. 115-590

Congressional Budget Office cost estimate

Mar 8, 2018H.R. 3221, Securing Access to Affordable Mortgages ActAs ordered reported by the House Committee on Financial Services on November 15, 2017

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: The Constitutional Authority on which this bill rests is the explicit power of Congress to regulate in commerce in and among the states, as enumerated in Article 1, Section 8, Clause 3, the Commerce Clause, of the United States Constitution. Additionally, Article 1, Section 7, Clause 2 of the Constitution allows for every bill passed by the House of Representatives and the Senate and signed by the President to be codified into law; and therefore implicitly allows Congress to repeal any bill that has been passed by both chambers and signed into law by the President.

The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 118, July 13, 2017, page H5832.

CRS reports 2

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 2

Products on other subjects that cite it, usually among other measures.

Product	Title	Kind	Published
R45073	Economic Growth, Regulatory Relief, and Consumer Protection Act (P.L. 115-174) and Selected Policy Issues Archived	Report	Jun 6, 2018
IN10876	Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and House Legislation: Common Issue Areas Archived	Insight	May 17, 2018

Related bills 1

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
HR 2133	CLEARR Act of 2017	Related bill	Jul 12, 2017

Titles 3

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To provide exemptions under the Truth in Lending Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to encourage access to affordable mortgages, and for other purposes.
Short Titles as Introduced: Securing Access to Affordable Mortgages Act
Short Titles as Reported to House: Securing Access to Affordable Mortgages Act

Subjects

Assigned by the Library of Congress. Policy area: Housing and Community Development.

Text 2

Each version as it was printed, newest first.

Mar 8, 2018Reported in House
Jul 13, 2017Introduced in House

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

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.