I 
114TH CONGRESS 
1ST SESSION H. R. 1113 
To amend the Truth in Lending Act to provide a safe harbor from certain 
requirements related to qualified mortgages for residential mortgage 
loans held on an originating insured depository institution’s portfolio, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 26, 2015 
Mr. BARR (for himself, Mr. WEBER of Texas, Mr. NEUGEBAUER, Mr. 
FINCHER, Mr. DOLD, Mr. TIPTON, Mr. HILL, Mr. LUCAS, Mr. ROTHFUS, 
Mr. LUETKEMEYER, Mr. STIVERS, Mr. KING
of New York, Mr. 
HULTGREN, Mr. DUFFY, Mr. STUTZMAN, Mr. GUINTA, and Mr. RIBBLE) 
introduced the following bill; which was referred to the Committee on Fi-
nancial Services 
A BILL 
To amend the Truth in Lending Act to provide a safe harbor 
from certain requirements related to qualified mortgages 
for residential mortgage loans held on an originating 
insured depository institution’s portfolio, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Portfolio Lending and 
Mortgage Access Act’’. 
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SEC. 2. SAFE HARBOR FOR CERTAIN LOANS HELD ON 
PORTFOLIO. 
(a) IN GENERAL.—Section 129C of the Truth in 
Lending Act (15 U.S.C. 1639c) is amended by adding at 
the end the following: 
‘‘(j) SAFE HARBOR FOR CERTAIN LOANS HELD ON 
PORTFOLIO.— 
‘‘(1) SAFE HARBOR FOR CREDITORS THAT ARE 
INSURED DEPOSITORY INSTITUTIONS.— 
‘‘(A) IN GENERAL.—A creditor that is an 
insured depository institution shall not be sub-
ject to suit for failure to comply with subsection 
(a), (c)(1), or (f)(2) of this section or section 
129H with respect to a residential mortgage 
loan, and the banking regulators shall treat 
such loan as a qualified mortgage, if— 
‘‘(i) the creditor has, since the origi-
nation of the loan, held the loan on the 
balance sheet of the creditor; and 
‘‘(ii) all prepayment penalties with re-
spect to the loan comply with the limita-
tions described under subsection (c)(3). 
‘‘(B) EXCEPTION
FOR
CERTAIN
TRANS-
FERS.—In the case of an insured depository in-
stitution that transfers a loan originated by 
that institution to another insured depository 
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institution by reason of the bankruptcy or fail-
ure of the originating insured depository insti-
tution or the purchase of the originating in-
sured depository institution, the insured deposi-
tory institution transferring such loan shall be 
deemed to have complied with the requirement 
under subparagraph (A)(i). 
‘‘(2) SAFE HARBOR FOR MORTGAGE ORIGINA-
TORS.—A mortgage originator shall not be subject 
to suit for a violation of section 129B(c)(3)(B) for 
steering a consumer to a residential mortgage loan 
if— 
‘‘(A) the creditor of such loan is an in-
sured depository institution and has informed 
the mortgage originator that the creditor in-
tends to hold the loan on the balance sheet of 
the creditor for the life of the loan; and 
‘‘(B) the mortgage originator informs the 
consumer that the creditor intends to hold the 
loan on the balance sheet of the creditor for the 
life of the loan. 
‘‘(3) DEFINITIONS.—For purposes of this sub-
section: 
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‘‘(A) BANKING
REGULATORS.—The term 
‘banking regulators’ means the Federal banking 
agencies and the Bureau. 
‘‘(B) OTHER TERMS.—The terms ‘Federal 
banking agencies’ and ‘insured depository insti-
tution’ have the meaning given those terms, re-
spectively, under section 3 of the Federal De-
posit Insurance Act.’’. 
(b) RULE
OF
CONSTRUCTION.—Nothing in the 
amendment made by this Act may be construed as pre-
venting a balloon loan from qualifying for the safe harbor 
provided under section 129C(j) of the Truth in Lending 
Act if the balloon loan otherwise meets all of the require-
ments under such subsection (j), regardless of whether the 
balloon loan meets the requirements described under 
clauses (i) through (iv) of section 129C(b)(2)(E) of such 
Act. 
Æ 
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