H.R.2673 - Portfolio Lending and Mortgage Access Act113th Congress (2013-2014)
|Sponsor:||Rep. Barr, Andy [R-KY-6] (Introduced 07/11/2013)|
|Committees:||House - Financial Services|
|Latest Action:||09/16/2014 Committee on Banking, Housing, and Urban Affairs. Hearings held. (All Actions)|
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Summary: H.R.2673 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (07/11/2013)
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).