Home Mortgage Disclosure Adjustment Act

Bill: 115-hr-2954
Sponsor: Rep. Emmer, Tom [R-MN-6]
Introduced: 2017-06-20 in the House
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation
Business records
Consumer credit
Executive agency funding and structure
Housing finance and home ownership
Securities and Exchange Commission (SEC)
User charges and fees

Summary:
action_date: 2017-06-20
text: 

Home Mortgage Disclosure Adjustment Act

 
This bill amends the Home Mortgage Disclosure Act of 1975 to exempt a depository institution from certain records and disclosure requirements: (1) with respect to closed-end mortgage loans, if the depository institution originated fewer than 1,000 such loans in each of the two preceding years; and (2) with respect to open-end lines of credit, if the depository institution originated fewer than 2,000 such lines of credit in each of the two preceding years.
 
In addition, the bill lessens requirements for depository institutions to itemize and disclose specified mortgage loan data. 

action_date: 2018-01-08
text: 

Home Mortgage Disclosure Adjustment Act

 
This bill amends the Home Mortgage Disclosure Act of 1975 to exempt a depository institution from certain records and disclosure requirements related to the itemization of loan data: (1) with respect to closed-end mortgage loans, if the depository institution originated fewer than 500 such loans in each of the two preceding years; and (2) with respect to open-end lines of credit, if the depository institution originated fewer than 500 such lines of credit in each of the two preceding years.

action_date: 2018-01-18
text: 

Home Mortgage Disclosure Adjustment Act

 
(Sec. 2) This bill amends the Home Mortgage Disclosure Act of 1975 to exempt a depository institution from certain records and disclosure requirements related to the itemization of loan data: (1) with respect to closed-end mortgage loans, if the depository institution originated fewer than 500 such loans in each of the two preceding years; and (2) with respect to open-end lines of credit, if the depository institution originated fewer than 500 such lines of credit in each of the two preceding years.
 
(Sec. 3) The amount deposited in the Securities and Exchange Commission Reserve Fund for FY2018 may not exceed $48 million.


Legislative actions:
action_date: 2018-01-19
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2018-01-18
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2018-01-18
text: On passage Passed by the Yeas and Nays: 243 - 184 (Roll no. 32).
action_date: 2018-01-18
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 243 - 184 (Roll no. 32).
action_date: 2018-01-18
text: On motion to recommit with instructions Failed by the Yeas and Nays: 191 - 236 (Roll no. 31).
action_date: 2018-01-18
text: Considered as unfinished business. (consideration: CR H536-537)
action_date: 2018-01-18
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the motion to recommit, the Chair put the question on the motion, and by voice vote, announced that the noes had prevailed. Mr. Ellison demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
action_date: 2018-01-18
text: The previous question on the motion to recommit with instructions was ordered without objection.
action_date: 2018-01-18
text: DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with instructions to add language mandating certain officers and institutions to confirm that they abide by requirements outlined within the amendment.
action_date: 2018-01-18
text: Mr. Ellison moved to recommit with instructions to the Committee on Financial Services. (text: CR H520-521)
action_date: 2018-01-18
text: The previous question was ordered pursuant to the rule.
action_date: 2018-01-18
text: DEBATE - The House proceeded with one hour of debate on H.R. 2954.
action_date: 2018-01-18
text: The rule provides for one hour of general debate on both measures. Only those amendments printed in Part A of the report shall be considered for H.R. 3326. The amendment printed in Part B of the report, relating to H.R. 2954, shall be considered as adopted. The rule allows for one motion to recommit with or without instructions for both measures.
action_date: 2018-01-18
text: Considered under the provisions of rule H. Res. 693. (consideration: CR H513-521)
action_date: 2018-01-17
text: Rule H. Res. 693 passed House.
action_date: 2018-01-16
text: Rules Committee Resolution H. Res. 693 Reported to House. The rule provides for one hour of general debate on both measures. Only those amendments printed in Part A of the report shall be considered for H.R. 3326. The amendment printed in Part B of the report, relating to H.R. 2954, shall be considered as adopted. The rule allows for one motion to recommit with or without instructions for both measures.
action_date: 2018-01-08
text: Placed on the Union Calendar, Calendar No. 359.
action_date: 2018-01-08
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 115-485.
action_date: 2018-01-08
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 115-485.
action_date: 2017-10-12
text: Ordered to be Reported (Amended) by the Yeas and Nays: 36 - 24.
action_date: 2017-10-12
text: Committee Consideration and Mark-up Session Held.
action_date: 2017-10-11
text: Committee Consideration and Mark-up Session Held.
action_date: 2017-06-20
text: Referred to the House Committee on Financial Services.
action_date: 2017-06-20
text: Introduced in House
action_date: 2017-06-20
text: Introduced in House