I 
113TH CONGRESS 
1ST SESSION H. R. 3529 
To provide exemptions from certain mortgage, servicing, and appraisal re-
quirements for non-profit low-income housing providers, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 19, 2013 
Mr. MEADOWS (for himself, Mrs. CAPITO, Mr. MURPHY of Florida, and Mr. 
BUTTERFIELD) introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To provide exemptions from certain mortgage, servicing, and 
appraisal requirements for non-profit low-income housing 
providers, 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 ‘‘Protecting Habitat 
Homeownership Act’’. 
SEC. 2. EXEMPTIONS. 
(a) TRUTH IN LENDING ACT.—The Truth in Lend-
ing Act (15 U.S.C. 1601 et seq.) is amended— 
(1) in section 128(f) (15 U.S.C. 1638(f))— 
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(A) in paragraph (3)— 
(i) by striking ‘‘apply to any fixed 
rate’’ and inserting the following: ‘‘apply 
to— 
‘‘(A) any fixed rate’’; 
(ii) by striking the period and insert-
ing ‘‘; or’’; and 
(iii) by adding at the end the fol-
lowing: 
‘‘(B) any residential mortgage loan origi-
nated by a non-profit low-income housing pro-
vider.’’; and 
(B) by adding at the end the following: 
‘‘(4) NON-PROFIT LOW-INCOME HOUSING PRO-
VIDER DEFINED.—For purposes of this subsection, 
the term ‘non-profit low-income housing provider’ 
means an organization that— 
‘‘(A) is exempt from taxation pursuant to 
section 501(c)(3) of the Internal Revenue Code 
of 1986; 
‘‘(B) makes residential mortgage loans— 
‘‘(i) for the purpose of promoting or 
facilitating homeownership for poor or low- 
income, disabled, or other disadvantaged 
persons or families; and 
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‘‘(ii) sets interest rates on such loans 
that— 
‘‘(I) are lower than the bank 
prime loan rate, as determined under 
the Federal Reserve Statistical Re-
lease of selected interest rates (com-
monly referred to as the H.15) by the 
Board of Governors of the Federal 
Reserve System, for the last day of 
the most recent weekly release of such 
rates; or 
‘‘(II) are, after adjusting for in-
flation, no-interest loans or loans with 
interest rates significantly below the 
interest rates for loans for purchase of 
single-family housing generally avail-
able in the market; 
‘‘(C) except as described under subpara-
graph (B), does not engage in the business of 
a loan originator or mortgage broker; 
‘‘(D) conducts its activities in a manner 
that serves public or charitable purposes; 
‘‘(E) receives funding and revenue and 
charges fees in a manner that does not 
incentivize the organization or its employees to 
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‘‘(g) EXEMPTION
FOR NON-PROFIT LOW-INCOME 
HOUSING PROVIDERS.—This section shall not apply to a 
residential mortgage loan made by a non-profit low-income 
housing provider (as such term is defined under section 
128(f)(4)).’’. 
(b) REAL ESTATE SETTLEMENT PROCEDURES ACT 
OF 1974.—Section 6(k) of the Real Estate Settlement 
Procedures Act of 1974 (12 U.S.C. 2605(k)) is amended 
by adding at the end the following: 
‘‘(3) EXEMPTION
FOR
NON-PROFIT
LOW-IN-
COME
HOUSING
PROVIDERS.—This subsection and 
subsections (l) and (m) shall not apply to the serv-
icing of a residential mortgage loan made by a non- 
profit low-income housing provider (as such term is 
defined under section 128(f)(4) of the Truth in 
Lending Act).’’. 
Æ 
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