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House Passes ABA-Advocated Portfolio Lending Bill

Posted on 11/19/2015

By a bipartisan 255-174 vote, the House yesterday passed H.R. 1210, which would designate all mortgage loans that institutions originate and hold in portfolio as Qualified Mortgages and thus subject to the safe harbor provisions of the Ability-to-Repay Rule. The bill is a signature part of ABA's Agenda for America's Hometown Banks, and was also strongly advocated by the state bankers associations.

"It's clear that new regulatory requirements have restrained mortgage lending, and have made it particularly difficult for some creditworthy borrowers to obtain a home loan," said ABA EVP James Ballentine. "This legislation is a common-sense approach that will help borrowers gain access to some of the lowest-risk mortgage products offered by banks."



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