skip to main content

H.R. 2954: Home Mortgage Disclosure Adjustment Act

Jan 18, 2018 at 7:30 p.m. ET. On Passage of the Bill in the House.

This was a vote to pass H.R. 2954 (115th) in the House.

H.R. 2954 amends the Home Mortgage Disclosure Act of 1975 (HMDA) to exempt from maintenance of mortgage loan records and disclosure requirements depository institutions that have originated in each of the two preceding calendar years:

  • Fewer than 500 closed-end mortgage loans; and
  • Fewer than 500 open-end lines of credit.

Additionally, the bill lessens requirements for depository institutions to itemize and disclose specified mortgage loan data including the number and dollar amount of mortgage loans groups according to measurements of certain fees and costs, and the number and dollar amount of mortgage loans and completed applications grouped according to measurements related to a consumer credit profile.

Home Mortgage Disclosure Act (HMDA)requires many depository institutions and other lenders to report information about the home loans that they decision, originate, or purchase.

The Dodd-Frank Act directed the Consumer Financial Protection Bureau (CFPB) to expand HMDA data reporting to include additional information about the applicants, lenders, and loans. In October 2015, the CFPB released a final rule requiring most lenders to report additional information about mortgage applications and loans, for a total of 48 unique data fields on each mortgage loan. The rule adds 25 new data fields to the current 23, while also modifying 20 of the existing fields. This is more than double the number of data fields lenders are currently required to collect, and even beyond the number of fields required by the Dodd-Frank Act.

The majority of the provisions will be effective on January 1, 2018, and institutions will collect the new HMDA information in 2018 and report it by March 1, 2019.

Source: Republican Policy Committee

Totals

All Votes R D
Yea 57%
 
 
243
234
 
9
 
Nay 43%
 
 
184
1
 
183
 
Not Voting
 
 
3
2
 
1
 

Passed. Simple Majority Required. Source: house.gov.

Ideology Vote Chart

Key:
Republican - Yea Democrat - Yea Republican - Nay Democrat - Nay
Seat position based on our ideology score.

Cartogram Map

Each hexagon represents one congressional district. Solid hexes are Yea votes.

What you can do

Vote Details

Notes: The Speaker’s Vote? “Aye” or “Yea”?
Download as CSV

Statistically Notable Votes

Statistically notable votes are the votes that are most surprising, or least predictable, given how other members of each voter’s party voted and other factors.

All Votes

Study Guide

How well do you understand this vote? Use this study guide to find out.

You can find answers to most of the questions below here on the vote page. For a guide to understanding the bill this vote was about, see here.

What was the procedure for this vote?

  1. What was this vote on?
  2. Not all votes are meant to pass legislation. In the Senate some votes are not about legislation at all, since the Senate must vote to confirm presidential nominations to certain federal positions.

    This vote is related to a bill. However, that doesn’t necessarily tell you what it is about. Congress makes many decisions in the process of passing legislation, such as on the procedures for debating the bill, whether to change the bill before voting on passage, and even whether to vote on passage at all.

    You can learn more about the various motions used in Congress at EveryCRSReport.com. If you aren’t sure what the House was voting on, try seeing if it’s on this list.

  3. What is the next step after this vote?
  4. Take a look at where this bill is in the legislative process. What might come next? Keep in mind what this specific vote was on, and the context of the bill. Will there be amendments? Will the other chamber of Congress vote on it, or let it die?

    For this question it may help to briefly examine the bill itself.

What is your analysis of this vote?

  1. What trends do you see in this vote?
  2. Members of Congress side together for many reasons beside being in the same political party, especially so for less prominent legislation or legislation specific to a certain region. What might have determined how the roll call came out in this case? Does it look like Members of Congress voted based on party, geography, or some other reason?

    One tool that will be helpful in answering this question is the cartogram at the top of the page. A cartogram is a stylized map of the United States that shows each district as an identical hexagon. This view allows you to see the how the representatives from each district voted arranged by their geography and colored by their political party. What trends can you see in the cartogram for this vote?

  3. How did your representative vote?
  4. There is one vote here that should be more important to you than all the others. These are the votes cast by your representative, which is meant to represent you and your community. Do you agree with how your representative voted? Why do you think they voted the way they did?

    If you don’t already know who your Members of Congress are you can find them by entering your address here.

Each vote’s study guide is a little different — we automatically choose which questions to include based on the information we have available about the vote. Study guides are a new feature to GovTrack. You can help us improve them by filling out this survey or by sending your feedback to hello@govtrack.us.