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HR 3971 115th Congress House Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Consumer Financial Protection Bureau Consumer credit Housing finance and home ownership

Community Institution Mortgage Relief Act of 2017

Introduced: October 5, 2017 Introduced by: Tenney, Claudia Republican · New York See on congress.gov
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 Everywhere this bill has been 23 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 13, 2017
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 12, 2017
Motion to reconsider laid on the table Agreed to without objection.
Dec 12, 2017
On passage Passed by the Yeas and Nays: 294 - 129 (Roll no. 675). (text: CR H9799)
Dec 12, 2017
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 294 - 129 (Roll no. 675).(text: CR H9799)
Dec 12, 2017
On motion to recommit with instructions Failed by the Yeas and Nays: 190 - 233 (Roll no. 674).
Dec 12, 2017
Considered as unfinished business. (consideration: CR H9828-9830)
Dec 12, 2017
POSTPONED PROCEEDINGS - At the conclusion of debate on the Titus motion to recommit, the Chair put the question on passage of the motion to recommit, and by voice vote announced that the noes had prevailed. Ms. Titus demanded the yeas and nays and the Chair postponed further proceedings on the motion to recommit until later in the legislative day.
Dec 12, 2017
The previous question on the motion to recommit with instructions was ordered without objection.
Dec 12, 2017
DEBATE - The House proceeded with 10 minutes of debate on the Titus 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 adding a new section pertaining to Protecting Consumers from Excessive Housing Costs and Predatory Lenders.
Dec 12, 2017
Ms. Titus moved to recommit with instructions to the Committee on Financial Services. (text: CR H9807)
Dec 12, 2017
DEBATE - Pursuant to the provisions of H.Res. 647, the House proceeded with 10 minutes of debate on the Sherman amendment No. 1.
Dec 12, 2017
Provides for consideration of H.R. 477 and H.R. 3971 under structured rules with one hour of debate, one motion to recommit with or without instructions on each measure. Also provides for consideration of H.J.Res. 123 under a closed rule, with one hour of debate and one motion
Dec 12, 2017
Considered under the provisions of rule H. Res. 647. (consideration: CR H9799-9808)
Dec 12, 2017
DEBATE - The House proceeded with one hour of debate on H.R. 3971.
Dec 6, 2017
Rules Committee Resolution H. Res. 647 Reported to House. Provides for consideration of H.R. 477 and H.R. 3971 under structured rules with one hour of debate, one motion to recommit with or without instructions on each measure. Also provides for consideration of H.J.Res. 123 under a closed rule, with one hour of debate and one motion
Nov 30, 2017
Placed on the Union Calendar, Calendar No. 319.
Nov 30, 2017
Reported by the Committee on Financial Services. H. Rept. 115-432.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Ordered to be Reported by the Yeas and Nays: 41 - 19.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Oct 5, 2017
Introduced in House
Oct 5, 2017
Referred to the House Committee on Financial Services.
Sep 7, 2017
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
 Votes taken on this bill 2
DateChamberWhat was voted onResultYes–No
Dec 12, 2017 House · vote #675 On Passage Passed 294–129 See who voted →
Dec 12, 2017 House · vote #674 On Motion to Recommit with Instructions Failed 190–233 See who voted →
 Plain-English summary Congressional Research Service

Community Institution Mortgage Relief Act of 2017

(Sec. 2) This bill amends the Truth in Lending Act to create a safe harbor from requirements for an escrow or impound account for the payment of taxes and hazard insurance in the case of mortgage loans made by a creditor with consolidated assets of $10 billion or less that holds the loan on its balance sheet for three years after its origination.

A creditor shall be deemed to have complied with the three-year balance sheet requirement if it transfers a loan by reason of its bankruptcy or failure, the purchase of it by another, or by a supervisory act or recommendation from a state or federal regulator.

The Consumer Financial Protection Bureau is required to exempt mortgage servicers that service 20,000 or fewer mortgage loans from requirements of the Real Estate Settlement Procedures Act of 1974 pertaining to the servicing of mortgage loans and administration of escrow accounts.

What's happening now December 13, 2017

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 3
 Cosponsors 3
All 3 Democratic 1 Republican 2