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H.R. 3192 (114th): Homebuyers Assistance Act

The text of the bill below is as of Oct 1, 2015 (Reported by House Committee).


IB

Union Calendar No. 210

114th CONGRESS

1st Session

H. R. 3192

[Report No. 114–278]

IN THE HOUSE OF REPRESENTATIVES

July 23, 2015

(for himself and Mr. Sherman) introduced the following bill; which was referred to the Committee on Financial Services

October 1, 2015

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed


A 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.


1.

Short title

This Act may be cited as the Homebuyers Assistance Act.

2.

Enforcement safe harbor

The integrated disclosure requirements for mortgage loan transactions under section 4(a) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2603(a)), section 105(b) of the Truth in Lending Act (15 U.S.C. 1604(b)), and regulations issued under such sections may not be enforced against any person until February 1, 2016, and no suit may be filed against any person for a violation of such requirements occurring before such date, so long as such person has made a good faith effort to comply with such requirements.

October 1, 2015

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed