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

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about housing and community development
You can read the bill
Sponsor Blaine Luetkemeyer, R-Mo.
Total Cosponsors 37 (2 Democrats, 35 Republicans)
Introduced April 30, 2014
Latest Major Action May 22, 2014
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill 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.

(Source: Congressional Research Service)

Bill Actions

Date Description
May 22, 2014 Ordered to be Reported by the Yeas and Nays: 43 - 16.
May 22, 2014 Committee Consideration and Mark-up Session Held.
April 30, 2014 Referred to the House Committee on Financial Services.