H.R.5148 - Access to Affordable Mortgages Act of 2014113th Congress (2013-2014)
|Sponsor:||Rep. Luetkemeyer, Blaine [R-MO-3] (Introduced 07/17/2014)|
|Committees:||House - Financial Services|
|Latest Action:||House - 07/30/2014 Ordered to be Reported by the Yeas and Nays: 31 - 23. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5148 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (07/17/2014)
Access to Affordable Mortgages Act of 2014 - Amends the Truth in Lending Act to exempt from property appraisal requirements certain higher-risk mortgage loans of $250,000 or less if such a loan appears on the balance sheet of the creditor of the loan for at least three years.
Exempts certain individuals required to make such reports from penalties for failure to report any appraisers reasonably suspected of failing to comply with the Uniform Standards of Professional Appraisal Practice, of violating applicable laws, or of otherwise engaging in unethical or unprofessional conduct.
Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to exempt such higher-risk mortgage loans from property appraisal or evaluation standard requirements.