---
kind: "diff"
citation: "H.R. 3971"
bill: "115-hr-3971"
heading: "Community Institution Mortgage Relief Act of 2017"
from: "rh"
from_label: "Reported in House"
to: "eh"
to_label: "Engrossed in House"
sections_amended: 1
sections_added: 0
sections_removed: 0
url: "https://uscodex.org/bills/115/hr/3971/changes/eh"
---

# H.R. 3971 — what changed

H.R. 3971, Community Institution Mortgage Relief Act of 2017 — 1 section amended between Reported in House and Engrossed in House.

Edits are marked `<del>struck</del>` and `<ins>inserted</ins>`.

## Sec. 2 Community financial institution mortgage relief

- (a) Exemption from escrow requirements for loans held by smaller creditors— Section 129D of the Truth in Lending Act (15 U.S.C. 1639d) is amended—
  - (1) by adding at the end the following:
    - “(k) Safe harbor for loans held by smaller creditors
    - “(1) In general—A creditor shall not be in violation of subsection (a) with respect to a loan if—
    - “(A) the creditor has consolidated assets of <del>$25,000,000,000 </del><ins>$10,000,000,000 </ins>or less; and
    - “(B) the creditor holds the loan on the balance sheet of the creditor for the 3-year period beginning on the date of the origination of the loan.
    - “(2) Exception for certain transfers—In the case of a creditor that transfers a loan to another person by reason of the bankruptcy or failure of the creditor, the purchase of the creditor, or a supervisory act or recommendation from a State or Federal regulator, the creditor shall be deemed to have complied with the requirement under paragraph (1)(B).”
  - (2) by striking the term “Board” each place such term appears and inserting “Bureau”.
- (b) Modification to exemption for small servicers of mortgage loans— Section 6 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2605) is amended by adding at the end the following:
  - “(n) Small Servicer Exemption—The Bureau shall, by regulation, provide exemptions to, or adjustments for, the provisions of this section for a servicer that annually services <del>30,000 </del><ins>20,000 </ins>or fewer mortgage loans, in order to reduce regulatory burdens while appropriately balancing consumer protections.”