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H.R. 2226, Portfolio Lending and Mortgage Access Act (CBO Report for Congress)

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Congress 115th
Date Requested Jan. 18, 2018
Requested By House Committee on Financial Services
Date Sent Feb. 9, 2018
Description:

Under current law, a “qualified mortgage” has certain characteristics designed to make it more affordable than some other types of loans. Eligible borrowers are presumed to be able to repay amounts owed, and lenders are provided certain legal protections when issuing such mortgages. H.R. 2226 would amend the Truth in Lending Act to deem residential mortgages qualified mortgages if certain criteria are met regarding the financial institution that originates and retains them, the terms of the loans, and the interest and fees charged for those loans.

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