H.R.4521 - Community Institution Mortgage Relief Act of 2014113th Congress (2013-2014)
|Sponsor:||Rep. Luetkemeyer, Blaine [R-MO-3] (Introduced 04/30/2014)|
|Committees:||House - Financial Services|
|Latest Action:||05/22/2014 Ordered to be Reported by the Yeas and Nays: 43 - 16.|
This bill has the status Introduced
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Summary: H.R.4521 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (04/30/2014)
Community Institution Mortgage Relief Act of 2014 - Amends the Truth in Lending Act (TILA) to require the Board of Governors of the Federal Reserve System to exempt from certain escrow or impound requirements a loan secured by a first lien on a consumer's principal dwelling if the loan is held by a creditor with assets of $10 billion or less.
Amends the Real Estate Settlement Procedures Act of 1974 to direct the Consumer Financial Protection Bureau (CFPB) to provide either exemptions or adjustments from the mortgage loan servicing and escrow account administration requirements of the Act for servicers that annually service 20,000 or fewer mortgage loans.