Securing Access to Affordable Mortgages Act
USA115th CongressHR-3221| House
| Updated: 3/8/2018
David Kustoff
Republican Representative
Tennessee
Consumer Protection and Financial Institutions Subcommittee, Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
(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.
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Timeline
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
Introduced in House
Referred to the House Committee on Financial Services.
Ordered to be Reported by the Yeas and Nays: 32 - 26.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 448.
Reported by the Committee on Financial Services. H. Rept. 115-590.
Housing and Community Development
Accounting and auditingAdministrative law and regulatory proceduresBanking and financial institutions regulationBusiness recordsDepartment of the TreasuryFederal Deposit Insurance Corporation (FDIC)Federal Reserve SystemHousing finance and home ownershipReal estate business
Securing Access to Affordable Mortgages Act
USA115th CongressHR-3221| House
| Updated: 3/8/2018
(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.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
Introduced in House
Referred to the House Committee on Financial Services.
Ordered to be Reported by the Yeas and Nays: 32 - 26.
Committee Consideration and Mark-up Session Held.
Placed on the Union Calendar, Calendar No. 448.
Reported by the Committee on Financial Services. H. Rept. 115-590.
David Kustoff
Republican Representative
Tennessee
Consumer Protection and Financial Institutions Subcommittee, Financial Services Committee
Housing and Community Development
Related Bills
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Accounting and auditingAdministrative law and regulatory proceduresBanking and financial institutions regulationBusiness recordsDepartment of the TreasuryFederal Deposit Insurance Corporation (FDIC)Federal Reserve SystemHousing finance and home ownershipReal estate business