H.R. 2673 · 113th Congress
Portfolio Lending and Mortgage Access Act
- Stage
- Reported from committee
- Sponsor
- Andy Barr
- Introduced
- 2013-07-11
- Latest action
- 2014-09-16 · Committee on Banking, Housing, and Urban Affairs. Hearings held.
Summary
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).