Summary: S.1315 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.1315. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (06/08/2017)

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.