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Community Mortgage Lender Regulatory Act of 2016
Legislative Progress
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vs 6,526 other HR bills in the 114th — cohort avg 56d
Community Mortgage Lender Regulatory Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to prohibit the Consumer Financial Protection Bureau (CFPB) from auditing, investigating, or taking an enforcement action against a responsible community mortgage lender unless requested to do so by one of several specified regulators or agencies. A "responsible community mortgage lender" is one that: (1) meets certain restrictions with respect to number and volume of mortgage loan originations and amount of either assets or net worth; and (2) has not, with respect to its mortgage loan originations and within a specified time frame, been subject to a cease and desist order or found by a court to have violated the law. Furthermore, the CFPB and other federal banking agencies are prohibited from requiring such a lender to audit one of its vendors or third-party contractors unless the CFPB or other agency has reasonable cause to believe that the vendor or contractor is causing the lender to violate the law. The bill also revises the methodology for calculating mortgage loan originations with respect to the qualified mortgage requirement in 2016.
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Filing registrants (2)
2016 · fourth_quarter · Financial Institutions/Investments/Securities
Regulator streamlining for small lenders; CML Regulatory Act proposal, HR 5907; GSE reform issues incl. CSP work, and capital.
Client expense: Not reported · Firm income: $21,000
Referred to the House Committee on Financial Services.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Banking
HR 414Burdensome Data Collection Relief Act HR 650Preserving Access to Manufactured Housing Act of 2015 HR 685 Mortgage Choice Act 2015 HR 766 Financial Institution Customer Protection Act of 2015 HR 957 CFPB-IG Act of 2015 HR 1210Portfolio Lending and Mortgage Access Act HR 1259Helping Expand Lending Practices in Rural Communities Act HR 1261Bureau of Consumer Financial Protection Accountability Act of 2015 HR 1263Consumer Financial Protection Safety and Soundness Improvement Act of 2015 HR 1265Bureau Advisory Commission Transparency Act HR 1266Financial Product Safety Commission Act of 2015 HR 1408Mortgage Servicing Asset Capital Requirements Act of 2015 HR 1480SAFE Act Confidentiality and Privilege Enhancement Act HR 1486TABS Act of 2015 HR 1491Partnership to Strengthen Homeownership Act of 2015 HR 2121SAFE Transitional Licensing Act of 2015 HR 2214A bill to provide for a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974 and the Truth in Lending Act, and for other purposes HR 2631Regulatory Predictability for Business Growth Act of 2015 HR 2643The State Licensing Efficiency Act HR 2995Fiscal year 2016 Financial Services and General Government Appropriations HR 3192 Homebuyers Assistance Act HR 3808To require the withdrawal and study of the Federal Housing Finance Agency's proposed rule on Federal Home Loan Bank membership, and for other purposeS HR 4620Preserving Access to CRE Capital Act of 2016 HR 4893Risk Management and Homeowner Stability Act of 2016 HR 5907 Community Mortgage Lender Regulatory Act of 2016 HR 5983 Financial CHOICE Act of 2016 S 351Mortgage Debt Tax Relief Act S 372SAFE Act Confidentiality and Privilege Enhancement Act S 495Mortgage Finance Act of 2015 S 510CFPB-IG Act of 2015 S 608Mortgage Forgiveness Tax Relief Act S 871A bill to provide for an application process for interested parties to apply for an area to be designated as a rural area, and for other purposes S 881A bill to ensure that Federal financial regulators perform a comprehensive review of regulations to identify outdated or otherwise unnecessary regulatory requirements imposed on financial institutions, and for other purposes S 1484Financial Regulatory Improvement Act S 1487Regulatory Predictability for Business Growth Act of 2015 S 1491CommunityLenderRegulatoryReliefandConsumerProtectionActof2015 S 1711A bill to provide for a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974 and the Truth in Lending Act, and for other purposes S 1910Financial Services and General Government Appropriations Act, 2016 S 2012Energy Policy Modernization Act of 2015 S 2038Jumpstart GSE Reform Act S 2995Portfolio Lending and Mortgage Access Act
Client expense: $830,000 · Firm income: Not reported
Government targets: Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of
2016 · fourth_quarter · Housing
HR 480Housing America's Workforce Act of 2015 HR 650Preserving Access to Manufactured Housing Act of 2015 HR 685 Mortgage Choice Act 2015 HR 957CFPB-IG Act of 2015 HR 1210Portfolio Lending and Mortgage Access Act HR 1259Helping Expand Lending Practices in Rural Communities Act HR 1263Consumer Financial Protection Safety and Soundness Improvement Act of 2015 HR 1354Permanently Protecting Tenants at Foreclosure Act of 2015 HR 1408Mortgage Servicing Asset Capital Requirements Act of 2015 HR 1480SAFE Act Confidentiality and Privilege Enhancement Act HR 1491Partnership to Strengthen Homeownership Act of 2015 HR 2214A bill to provide for a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974 and the Truth in Lending Act, and for other purposes HR 2243Equity in Government Compensation Act of 2015 HR 2577Transportation, Housing and Urban Development Appropriations Act of 2016 HR 2631Regulatory Predictability for Business Growth Act of 2015 HR 3192Homebuyers Assistance Act HR 3796Nursing Home Accountability Act of 2015 HR 3808To require the withdrawal and study of the Federal Housing Finance Agency's proposed rule on Federal Home Loan Bank membership, and for other purposeS HR 5907 Community Mortgage Lender Regulatory Act of 2016 S 351Mortgage Debt Tax Relief Act S 372SAFE Act Confidentiality and Privilege Enhancement Act S 495Mortgage Finance Act of 2015 S 608Mortgage Forgiveness Tax Relief Act S 812CLEAR Relief Act of 2015 S 871A bill to provide for an application process for interested parties to apply for an area to be designated as a rural area, and for other purposeS S 1487Regulatory Predictability for Business Growth Act of 2015 S 1679Flood Insurance Market Parity and Modernization Act S 1711A bill to provide for a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974 and the Truth in Lending Act, and for other purposes S 1910Financial Services and General Government Appropriations Act, 2016 S 2038Jumpstart GSE Reform Act S 3083The Housing Opportunity Through Modernization Act of 2016 S 3146Preventing Abandoned Foreclosures and Preserving Communities ACT of 2016
Client expense: $830,000 · Firm income: Not reported
Government targets: Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of