Home Loan Quality Transparency Act of 2019

II 116TH CONGRESS 1ST SESSION S. 331 To amend the Home Mortgage Disclosure Act of 1975 to modify the exemptions from certain disclosure requirements. IN THE SENATE OF THE UNITED STATES FEBRUARY 5, 2019 Ms. CORTEZ MASTO (for herself, Mr. MENENDEZ, Mr. DURBIN, Ms. DUCKWORTH, Mr. BOOKER, Ms. CANTWELL, Mrs. FEINSTEIN, Mrs. GILLIBRAND, Ms. HARRIS, Ms. WARREN, Mr. WYDEN, Ms. SMITH, and Mr. VAN HOLLEN) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Home Mortgage Disclosure Act of 1975 to modify the exemptions from certain disclosure requirements. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Home Loan Quality 4 Transparency Act of 2019’’. 5 VerDate Sep 11 2014 20:59 Feb 13, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S331.IS S331 pamtmann on DSKBFK8HB2PROD with BILLS 2 •S 331 IS SEC. 2. EXEMPTION FROM CERTAIN DISCLOSURE REQUIRE- 1 MENTS. 2 (a) IN GENERAL.—Section 304 of the Home Mort- 3 gage Disclosure Act of 1975 (12 U.S.C. 2803) is amend- 4 ed— 5 (1) by striking subsection (i) and inserting the 6 following: 7 ‘‘(i) EXEMPTION FROM CERTAIN DISCLOSURE RE- 8 QUIREMENTS.—The requirements of paragraphs (4), (5), 9 and (6) of subsection (b) shall not apply with respect to 10 any depository institution described in section 303(3)(A) 11 that has total assets, as of the most recent full fiscal year 12 of the institution, of $30,000,000 or less.’’; and 13 (2) by striking subsection (o). 14 (b) TECHNICAL AND CONFORMING AMENDMENT.— 15 Section 104 of the Economic Growth, Regulatory Relief, 16 and Consumer Protection Act (Public Law 115–174) is 17 amended by striking subsection (b). 18 Æ VerDate Sep 11 2014 20:59 Feb 13, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S331.IS S331 pamtmann on DSKBFK8HB2PROD with BILLS