1460 
† HR 4173 PP
‘‘(I) by 1.5 or more percentage 
points, in the case of a first lien resi-
dential mortgage loan having an origi-
nal principal obligation amount that 
is equal to or less than the amount of 
the maximum limitation on the origi-
nal principal obligation of a mortgage 
in effect for a residence of the applica-
ble size, as of the date on which such 
interest rate is set, pursuant to the 
sixth sentence of section 305(a)(2) of 
the Federal Home Loan Mortgage Cor-
poration Act (12 U.S.C. 1454(a)(2)); 
‘‘(II) by 2.5 or more percentage 
points, in the case of a first lien resi-
dential mortgage loan having an origi-
nal principal obligation amount that 
is more than the amount of the max-
imum limitation on the original prin-
cipal obligation of a mortgage in effect 
for a residence of the applicable size, as 
of the date on which such interest rate 
is set, pursuant to the sixth sentence of 
section 305(a)(2) of the Federal Home
1461 
† HR 4173 PP
Loan Mortgage Corporation Act (12 
U.S.C. 1454(a)(2)); or 
‘‘(III) by 3.5 or more percentage 
points, in the case of a subordinate 
lien residential mortgage loan; 
‘‘(vi) for which the income and finan-
cial resources relied upon to qualify the ob-
ligors on the loan are verified and docu-
mented; 
‘‘(vii) for which the underwriting proc-
ess is based on a payment schedule that 
fully amortizes the loan over the loan term 
and takes into account all applicable taxes, 
insurance, and assessments; 
‘‘(viii) that does not cause the total 
monthly debts of the consumer, including 
amounts under the loan, to exceed a per-
centage established by regulation of the 
monthly gross income of the consumer, or 
such other maximum percentage of such in-
come, as may be prescribed by regulation 
under subsection (g), which rules shall take 
into consideration the income of the con-
sumer available to pay regular expenses
1462 
† HR 4173 PP
after payment of all installment and revolv-
ing debt; 
‘‘(ix) for which the total points and 
fees payable in connection with the loan do 
not exceed 2 percent of the total loan 
amount, where the term ‘points and fees’ 
means points and fees as defined by Section 
103(aa)(4) of the Truth in Lending Act (15 
U.S.C. 1602(aa)(4)); and 
‘‘(x) for which the term of the loan does 
not exceed 30 years, except as such term 
may be extended under subsection (g); and 
‘‘(B) any reverse mortgage that is insured 
by the Federal Housing Administration or com-
plies with the condition established in subpara-
graph (A)(v). 
‘‘(4) RESIDENTIAL MORTGAGE LOAN.—The term 
‘residential mortgage loan’ means any consumer cred-
it transaction that is secured by a mortgage, deed of 
trust, or other equivalent consensual security interest 
on a dwelling or on residential real property that in-
cludes a dwelling, other than a consumer credit trans-
action under an open end credit plan or an extension 
of credit relating to a plan described in section 
101(53D) of title 11, United States Code.’’.
1463 
† HR 4173 PP
(b) CONFORMING AMENDMENTS.—Section 129(c) of the 
Truth in Lending Act (15 U.S.C. 1639(c)) is amended— 
(1) by striking paragraph (2); 
(2) by striking ‘‘(1) IN GENERAL.—’’; and 
(3) by redesignating subparagraphs (A) and (B) 
as paragraphs (1) and (2), respectively. 
SEC. 1076. ASSISTANCE FOR ECONOMICALLY VULNERABLE 
INDIVIDUALS AND FAMILIES. 
(a) HERA AMENDMENTS.—Section 1132 of the Hous-
ing and Economic Recovery Act of 2008 (12 U.S.C. 1701x 
note) is amended— 
(1) in subsection (a), by inserting in each of 
paragraphs (1), (2), (3), and (4) ‘‘or economically 
vulnerable individuals and families’’ after ‘‘home-
buyers’’ each place that term appears; 
(2) in subsection (b)(1), by inserting ‘‘or eco-
nomically vulnerable individuals and families’’ after 
‘‘homebuyers’’; 
(3) in subsection (c)(1)— 
(A) in subparagraph (A), by striking ‘‘or’’ 
at the end; 
(B) in subparagraph (B), by striking the 
period at the end and inserting ‘‘; or’’; and 
(C) by adding at the end the following: 
‘‘(C) a nonprofit corporation that—
1464 
† HR 4173 PP
‘‘(i) is exempt from taxation under sec-
tion 501(c)(3) of the Internal Revenue Code 
of 1986; and 
‘‘(ii) specializes or has expertise in 
working with economically vulnerable indi-
viduals and families, but whose primary 
purpose is not provision of credit counseling 
services.’’; and 
(4) in subsection (d)(1), by striking ‘‘not more 
than 5’’. 
(b) APPLICABILITY.—Amendments made by subsection 
(a) shall not apply to programs authorized by section 1132 
of the Housing and Economic Recovery Act of 2008 (12 
U.S.C. 1701x note) that are funded with appropriations 
prior to fiscal year 2011. 
SEC. 1077. REMITTANCE TRANSFERS. 
(a) TREATMENT OF REMITTANCE TRANSFERS.—The 
Electronic Fund Transfer Act (15 U.S.C. 1693 et seq.) is 
amended— 
(1) in section 902(b) (15 U.S.C. 1693(b)), by in-
serting ‘‘and remittance’’ after ‘‘electronic fund’’; 
(2) by redesignating sections 919, 920, 921, and 
922 as sections 920, 921, 922, and 923, respectively; 
and 
(3) by inserting after section 918 the following: