Portfolio Lending and Mortgage Access Act

House Bill 2673 - Portfolio Lending and Mortgage Access Act: Overview, Status, and Impact

Hozzl · 2024-03-14T12:48:45Z

Explore the details of House Bill 2673 Portfolio Lending and Mortgage Access Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/14/2024, 12:48 PM

Congressional Summary of HR 2673

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).

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Current Status of Bill HR 2673

Bill HR 2673 is currently in the status of Bill Introduced since July 11, 2013. Bill HR 2673 was introduced during Congress 113 and was introduced to the House on July 11, 2013. Bill HR 2673's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of September 16, 2014

Bipartisan Support of Bill HR 2673

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 2673

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Consumer credit

- Housing finance and home ownership

Alternate Title(s) of Bill HR 2673

Portfolio Lending and Mortgage Access Act

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.

Portfolio Lending and Mortgage Access Act