S. 1315 · 115th Congress
Relationship Lending Preservation Act of 2017
- Stage
- In committee
- Sponsor
- Heidi Heitkamp
- Introduced
- 2017-06-08
- Latest action
- 2017-06-08 · Introduced in Senate
Summary
Relationship Lending Preservation Act of 2017
This bill directs the Consumer Financial Protection Bureau to issue regulations that include as a "qualified mortgage" any mortgage loan that: (1) is extended by a Federal Home Loan Bank member that, together with its affiliates, has less than $10 billion in total consolidated assets; (2) meets specified qualifying criteria under the Truth in Lending Act; and (3) is eligible to be purchased by a Federal Home Loan Bank pursuant to regulations of the Federal Housing Finance Agency and requirements established by the bank. Current law provides certain protections for lenders against lawsuits by distressed borrowers with respect to qualified mortgages.