H.R.4521 - Community Institution Mortgage Relief Act of 2014

To modify exemptions for small creditors and mortgage loan servicers, to require a study of appropriate capital requirements for mortgage servicing assets for nonsystemic banking institutions, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To modify exemptions for small creditors and mortgage loan servicers, to require a study of appropriate capital requirements for mortgage servicing assets for nonsystemic banking institutions, and for other purposes. as introduced.
  • Short: Community Institution Mortgage Relief Act of 2014 as introduced.

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Introduced
 
House
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Senate
Passes
 
President
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04/30/14
 
 
 
 
 
 
 

Official Summary

Community Institution Mortgage Relief Act of 2014 - Amends the Truth in Lending Act (TILA) to require the Board of Governors of the Federal Reserve System to exempt from certain escrow or impound requirements a loan secured by a first lien on a consumer's principal dwelling if the loan

Official Summary

Community Institution Mortgage Relief Act of 2014 - Amends the Truth in Lending Act (TILA) to require the Board of Governors of the Federal Reserve System to exempt from certain escrow or impound requirements a loan secured by a first lien on a consumer's principal dwelling if the loan is held by a creditor with assets of $10 billion or less. Amends the Real Estate Settlement Procedures Act of 1974 to direct the Consumer Financial Protection Bureau (CFPB) to provide either exemptions or adjustments from the mortgage loan servicing and escrow account administration requirements of the Act for servicers that annually service 20,000 or fewer mortgage loans.

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