Portfolio Lending and Mortgage Access Act
This bill amends the Truth in Lending Act to create a safe harbor from lawsuit for creditors that are depository institutions for any failure to comply with certain requirements with respect to a residential mortgage loan, and the banking regulators are required to treat such a loan as a qualified mortgage, if the creditor has, since the loan's origination, held it on its balance sheet and all prepayment penalties with respect to the loan comply with specified limitations.
A safe harbor from lawsuit is also created for mortgage originators for steering a consumer to a residential mortgage loan if:
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2015-11-19 | IntroReferral | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
| 2015-11-18 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2015-11-18 | Vote | On passage Passed by the Yeas and Nays: 255 - 174 (Roll no. 636). (text: CR H8312) | House floor actions |
| 2015-11-18 | Vote | On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 242 (Roll no. 635). | House floor actions |
| 2015-11-18 | Floor | The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H8320) | House floor actions |
| 2015-11-18 | Floor | DEBATE - The House proceeded with 10 minutes of debate on the Thompson (CA) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment pending a reservation of a point of order. Subsequently, the reservation was removed. The amendment retains features of the Qualified Mortgage rule with respect to consumers who are veterans and members of the Armed Forces. | House floor actions |
| 2015-11-18 | Floor | Mr. Thompson (CA) moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H8319-8321; text: CR H8319) | House floor actions |
| 2015-11-18 | Floor | The previous question was ordered pursuant to the rule. (consideration: CR H8319) | House floor actions |
| 2015-11-18 | Floor | DEBATE - Pursuant to the provisions of H. Res. 529, the House proceeded with one hour of general debate on H.R. 1210. | House floor actions |
| 2015-11-18 | Floor | Considered under the provisions of rule H. Res. 529. (consideration: CR H8311-8322) | House floor actions |
| 2015-11-17 | Floor | Rules Committee Resolution H. Res. 529 Reported to House. Rule provides for consideration of H.R. 1210 and H.R. 3189. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Rule provides that H.R. 1210 shall be amended by the text of Rules Committee Print 114-34 and that the amendment printed in part A of the report from the Committee on Rules shall be separately debatable for 10 minutes. H.R. 3189 shall be amended by the text of Rules Committee Print 114-35 and modified by the amendment printed in Part B of the report. No further amendments other than those printed in Part C of the report shall be in order for H.R. 3189. | House floor actions |
| 2015-11-16 | Calendars | Placed on the Union Calendar, Calendar No. 251. | House floor actions |
| 2015-11-16 | Committee | Reported by the Committee on Financial Services. H. Rept. 114-330. | House floor actions |
| 2015-07-29 | Committee | Ordered to be Reported by the Yeas and Nays: 38 - 18. | House committee actions |
| 2015-07-29 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2015-07-28 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2015-06-11 | Committee | Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. | House committee actions |
| 2015-04-16 | Committee | Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-49. | Senate |
| 2015-03-03 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
| 2015-03-03 | IntroReferral | Introduced in House | Library of Congress |