Federal - HR 1699

A bill to amend the Truth in Lending Act to modify the definitions of a mortgage originator and a high-cost mortgage, to amend the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 to modify the definition of a loan originator, and for other purposes.

Introduced

March 23, 2017

Description

A bill to amend the Truth in Lending Act to modify the definitions of a mortgage originator and a high-cost mortgage, to amend the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 to modify the definition of a loan originator, and for other purposes.

Our Position

Support

Original Sponsor 1

Co-Sponsors 65

Latest Actions See More/Less

  • Dec. 21, 2017Pocan, D-Wis., House speech: Personal explanation for roll call vote no.650, and would have voted yea if present. Congressional Record p. E1747

  • Dec. 5, 2017Courtney, D-Conn., House speech: Personal explanation for roll call vote no.645, and would have voted nay if present. Congressional Record p. E1656

  • Dec. 4, 2017Scalise, R-La., House speech: Personal explanation for roll call vote no.645, and would have voted yea if present. Congressional Record p. E1647

  • Dec. 4, 2017Scalise, R-La., House speech: Personal explanation for roll call vote no.644, and would have voted yea if present. Congressional Record p. E1647

  • Dec. 4, 2017 — Received in the Senate and referred to the Senate Banking, Housing and Urban Affairs Committee. Congressional Record p. S7819

  • Dec. 1, 2017D. Collins, R-Ga., House speech: Personal explanation for roll call vote no.645, and would have voted yea if present. Congressional Record p. E1639

  • Dec. 1, 2017D. Collins, R-Ga., House speech: Personal explanation for roll call vote no.644, and would have voted yea if present. Congressional Record p. E1639

  • Dec. 1, 2017Webster, R-Fla., House speech: Personal explanation for roll call vote no.645, and would have voted yea if present. Congressional Record p. E1638

  • Dec. 1, 2017Webster, R-Fla., House speech: Personal explanation for roll call vote no.644, and would have voted yea if present. Congressional Record p. E1638

  • Dec. 1, 2017Renacci, R-Ohio, House speech: Personal explanation for roll call vote no.650, and would have voted nay if present. Congressional Record p. H9586

  • Dec. 1, 2017Renacci, R-Ohio, House speech: Personal explanation for roll call vote no.651, and would have voted yea if present. Congressional Record p. H9586

  • Dec. 1, 2017Taylor, R-Va., House speech: Personal explanation for roll call vote no.651, and would have voted yea if present. Congressional Record p. H9586

  • Dec. 1, 2017Taylor, R-Va., House speech: Personal explanation for roll call vote no.650, and would have voted nay if present. Congressional Record p. H9586

  • Dec. 1, 2017Webster, R-Fla., House speech: Personal explanation for roll call vote no.651, and would have voted yea if present. Congressional Record p. H9585

  • Dec. 1, 2017Webster, R-Fla., House speech: Personal explanation for roll call vote no.650, and would have voted nay if present. Congressional Record p. H9585

  • Dec. 1, 2017Frankel, D-Fla., House speech: Personal explanation for roll call vote no.651, and would have voted nay if present. Congressional Record p. H9585

  • Dec. 1, 2017House Vote 651 Manufactured Housing Lending Regulation — Passage
    Passage of the bill that would change the definitions of "mortgage originator" and "loan originator" to exempt companies that manufacture homes and sell manufactured homes from various mortgage-related regulatory requirements. It would increase the maximum allowable rates and fees that may be applied to a manufactured home loan before the loan is classified as a high-cost mortgage. Passed 256-163. Congressional Record p. H9585

  • Dec. 1, 2017House Vote 650 Manufactured Housing Lending Regulation — Recommit
    Waters, D-Calif., motion to recommit the bill to the House Financial Services Committee with instructions to report it back immediately with an amendment that would prohibit companies and lenders that have been convicted of fraud, or shown to have engaged in deceptive, unfair or abusive lending practices, from utilizing the provisions of the bill. Motion rejected 193-227. Congressional Record p. H9583-H9585

  • Dec. 1, 2017 — Considered by the House. Congressional Record p. H9573-H9585

  • Nov. 30, 2017Jayapal, D-Wash., House speech: Personal explanation for roll call vote no.645, and would have voted nay if present. Congressional Record p. H9559

  • Nov. 30, 2017Jayapal, D-Wash., House speech: Personal explanation for roll call vote no.644, and would have voted nay if present. Congressional Record p. H9559

  • Nov. 30, 2017Taylor, R-Va., House speech: Personal explanation for roll call vote no.645, and would have voted yea if present. Congressional Record p. H9538

  • Nov. 30, 2017Taylor, R-Va., House speech: Personal explanation for roll call vote no.644, and would have voted yea if present. Congressional Record p. H9538

  • Nov. 30, 2017Hastings, D-Fla., House speech: Personal explanation for roll call vote no.645, and would have voted nay if present. Congressional Record p. H9538

  • Nov. 30, 2017House Vote 645 Federal Workforce Probation and Home Lending Regulation — Rule
    Adoption of the rule (H Res 635) that would provide for House floor consideration of the bill (HR 4182) that would change the probationary period for certain federal employees in new or promoted positions and provide for consideration of the bill (HR 1699) that would modify federal regulations regarding high-cost mortgages as they apply to manufactured housing. Adopted 226-186. Congressional Record p. H9538

  • Nov. 30, 2017House Vote 644 Federal Workforce Probation and Home Lending Regulation — Previous Question
    Woodall, R-Ga., motion to order the previous question (thus ending debate and the possibility of amendment) on the rule (H Res 635) that would provide for House floor consideration of the bill (HR 4182), that would change the probationary period for certain federal employees in new or promoted positions and provide for consideration of the bill (HR 1699) that would modify federal regulations regarding high-cost mortgages as they apply to manufactured housing. Motion agreed to 229-189. Congressional Record p. H9537-H9538

  • Nov. 29, 2017 — Rules Committee resolution, H Res 635, reported to the House as a rule for HR 1699.

  • Nov. 29, 2017 — House Rules Committee granted a closed rule providing for consideration of the bill. Congressional Record p. H9514

  • Nov. 29, 2017 — Full committee proceeding held by the House Rules Committee.

  • Nov. 21, 2017 — Reported to the House by the House Financial Services Committee and placed on the Union Calendar. H Rept 115-416Congressional Record p. H9432

  • Oct. 23, 2017 — Additional cosponsor(s): 1

    Comer, (R-Ky.)
  • Oct. 19, 2017 — Additional cosponsor(s): 6

    Banks, (R-Ind.)Bucshon, (R-Ind.)Massie, (R-Ky.)
    Brooks, S. (R-Ind.)Gottheimer, (D-N.J.)Moolenaar, (R-Mich.)
  • Oct. 12, 2017 — Full committee consideration and markup held by the House Financial Services Committee.

    Oct. 12, 2017 — Committee Vote: Access to Manufactured Housing — Vote to Report

    Amend the 1968 Truth in Lending Act (PL 90-321) as well as the 2008 Secure and Fair Enforcement for Mortgage Licensing Act (PL 110-289) to specify that manufactured home retailers are not mortgage originators under either law. The bill also would increase the annual percentage rate ceiling to 10 percent from 8.5 percent on certain dwellings at which mortgages are considered high-cost mortgages under the 1968 law.

    Amend the 1968 Truth in Lending Act (PL 90-321) as well as the 2008 Secure and Fair Enforcement for Mortgage Licensing Act (PL 110-289) to specify that manufactured home retailers are not mortgage originators under either law. The bill also would increase the annual percentage rate ceiling to 10 percent from 8.5 percent on certain dwellings at which mortgages are considered high-cost mortgages under the 1968 law.

    Ordered reported favorably to the full House 42-18.
  • Oct. 11, 2017 — Full committee consideration and markup held by the House Financial Services Committee.

    Oct. 11, 2017 — Committee Vote: Access to Manufactured Housing — Default and Delinquency Rates
      Ellison, D-Minn. —

    Amendment that would require each privately owned creditor of residential mortgage loans secured by manufactured homes to issue an annual report containing default and delinquency rates on such residential mortgage loans extended by the creditor. It also would require that the report be made publicly available on the creditor's website.

    Amendment that would require each privately owned creditor of residential mortgage loans secured by manufactured homes to issue an annual report containing default and delinquency rates on such residential mortgage loans extended by the creditor. It also would require that the report be made publicly available on the creditor's website.

    Rejected by voice vote.

    Oct. 11, 2017 — Committee Vote: Access to Manufactured Housing — Manufactured Home Appraisals
      Ellison, D-Minn. —

    Amendment that would require a written appraisal on a manufactured home before a creditor can extend credit in the form of a higher-risk mortgage.

    Amendment that would require a written appraisal on a manufactured home before a creditor can extend credit in the form of a higher-risk mortgage.

    Rejected by voice vote.
  • Oct. 11, 2017 — Additional cosponsor(s): 2

    Messer, (R-Ind.)Mitchell, (R-Mich.)
  • Sept. 27, 2017 — Additional cosponsor(s): 1

    Peters, S. (D-Calif.)
  • Sept. 26, 2017 — Additional cosponsor(s): 1

    Rokita, (R-Ind.)
  • Sept. 14, 2017 — Additional cosponsor(s): 1

    Johnson, S. (R-Texas)
  • Sept. 13, 2017 — Additional cosponsor(s): 1

    Estes, (R-Kan.)
  • July 27, 2017 — Additional cosponsor(s): 4

    Dent, (R-Pa.)Knight, (R-Calif.)
    Gosar, (R-Ariz.)Poe, (R-Texas)
  • July 24, 2017 — Additional cosponsor(s): 1

    Goodlatte, (R-Va.)
  • July 13, 2017 — Additional cosponsor(s): 4

    Buck, (R-Colo.)Schweikert, (R-Ariz.)
    DeSantis, (R-Fla.)Wittman, (R-Va.)
  • July 12, 2017 — Additional cosponsor(s): 4

    Biggs, (R-Ariz.)McSally, (R-Ariz.)
    Gallagher, (R-Wis.)Walberg, (R-Mich.)
  • July 11, 2017 — Additional cosponsor(s): 2

    Garrett, (R-Va.)Ratcliffe, (R-Texas)
  • June 29, 2017 — Additional cosponsor(s): 3

    DesJarlais, (R-Tenn.)Lucas, (R-Okla.)O'Halleran, (D-Ariz.)
  • June 28, 2017 — Additional cosponsor(s): 2

    Cole, (R-Okla.)Mullin, (R-Okla.)
  • June 27, 2017 — Additional cosponsor(s): 6

    Blackburn, M. (R-Tenn.)Duncan, John (R-Tenn.)Franks, (R-Ariz.)
    Bridenstine, (R-Okla.)Flores, (R-Texas)Roe, (R-Tenn.)
  • June 23, 2017 — Additional cosponsor(s): 1

    Russell, (R-Okla.)
  • June 21, 2017 — Additional cosponsor(s): 2

    Barton, (R-Texas)Fleischmann, (R-Tenn.)
  • June 8, 2017 — Additional cosponsor(s): 2

    DeFazio, (D-Ore.)Roby, (R-Ala.)
  • May 25, 2017 — Additional cosponsor(s): 2

    Rogers, M. (R-Ala.)Walorski, (R-Ind.)
  • May 24, 2017 — Additional cosponsor(s): 1

    Aderholt, R. (R-Ala.)
  • May 17, 2017 — Additional cosponsor(s): 1

    Sessions, (R-Texas)
  • May 16, 2017 — Additional cosponsor(s): 4

    Jenkins, E. (R-W.Va.)Mooney, (R-W.Va.)
    McKinley, (R-W.Va.)Rothfus, (R-Pa.)
  • May 4, 2017 — Additional cosponsor(s): 1

    Harper, (R-Miss.)
  • May 1, 2017 — Additional cosponsor(s): 3

    Byrne, (R-Ala.)Thompson, G. (R-Pa.)Williams, (R-Texas)
  • April 28, 2017 — Additional cosponsor(s): 4

    Duncan, Jeff (R-S.C.)Kelly, T. (R-Miss.)
    Hollingsworth, (R-Ind.)Palazzo, (R-Miss.)
  • March 23, 2017 — Original cosponsor(s): 5

    Kustoff, (R-Tenn.)Rice, K. (D-N.Y.)Sinema, (D-Ariz.)
    Poliquin, (R-Maine)Sewell, (D-Ala.)
  • March 23, 2017 — Read twice and referred to: House Financial Services.Congressional Record p. H2369

MHI is the national trade organization representing all segments of the factory-built housing industry. MHI serves its membership by providing industry research, promotion, education and government relations programs, and by building and facilitating consensus within the industry.