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U.S. GOVERNMENT
INFORMATION
Gp
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-485
HOME MORTGAGE DISCLOSURE ADJUSTMENT ACT
JANuARY 8, 2017.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 2954]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 2954) to amend the Home Mortgage Disclosure Act of
1975 to specify which depository institutions are subject to the
maintenance of records and disclosure requirements of such Act,
and for other purposes, having considered the same, report favor-
ably thereon with an amendment and recommend that the bill as
amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Home Mortgage Disclosure Adjustment Act.
SEC. 2. DEPOSITORY INSTITUTIONS SUBJECT TO MAINTENANCE OF RECORDS AND DISCLO-
SURE REQUIREMENTS.
(a) IN GENERAL.-Section 304 of the Home Mortgage Disclosure Act of 1975 (12
U.S.C. 2803) is amended-
(1) by redesignating subsection (i) as paragraph (3) and adjusting the margins
accordingly; and
(2) by inserting before paragraph (3), as so redesignated, the following:
(i) EXEMPTIONS.-
(1) CLOSED-END MORTGAGE LOANS.-With respect to a depository institution,
the requirements of paragraphs (5) and (6) of subsection (b) shall not apply with
respect to closed-end mortgage loans if the depository institution originated less
than 500 closed-end mortgage loans in each of the 2 preceding calendar years.
(2) OPEN-END LINES OF CREDIT.-With respect to a depository institution, the
requirements of paragraphs (5) and (6) of subsection (b) shall not apply with
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