114TH CONGRESS 
1ST SESSION H. R. 1210 
AN ACT 
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 
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’’. 
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 
DEPOSITORY INSTITUTIONS.— 
‘‘(A) IN GENERAL.—A creditor that is a 
depository institution shall not be subject 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 a depository institution 
that transfers a loan originated by that institu-
tion to another depository institution by reason 
of the bankruptcy or failure of the originating 
depository institution or the purchase of the 
originating depository institution, the depository 
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 a deposi-
tory institution and has informed the mortgage 
originator that the creditor intends 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: 
‘‘(A) BANKING
REGULATORS.—The term 
‘banking regulators’ means the Federal banking 
agencies, the Bureau, and the National Credit 
Union Administration. 
‘‘(B) 
DEPOSITORY
INSTITUTION.—The 
term ‘depository institution’ has the meaning 
given that term under section 19(b)(1) of the 
Federal Reserve Act (12 U.S.C. 505(b)(1)). 
‘‘(C) FEDERAL BANKING AGENCIES.—The 
term ‘Federal banking agencies’ has the mean-
ing given that term under section 3 of the Fed-
eral Deposit 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. 
Passed the House of Representatives November 18, 
2015. 
Attest: 
Clerk.
114TH CONGRESS 
1ST SESSION 
H. R. 1210 
AN ACT 
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 depository institu-
tion’s portfolio, and for other purposes.