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Portfolio Lending and Mortgage Access Act
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).
Read the Full Bill
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
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
55Democrat Cosponsors
4Republican Cosponsors
51Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 2673
Primary Policy Focus
Finance and Financial SectorPotential 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
Comments
Sponsors and Cosponsors of HR 2673
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