Sec. 2. Community Institution Mortgage Relief
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Section 129D(c) of the Truth in Lending Act ( 15 U.S.C. 1639d(c) ), as added by section 1461(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended— by redesignating paragraphs (1), (2), (3), and
(4)as subparagraphs (A), (B), (C), and
(D)(and conforming the margins accordingly); by striking The Board and inserting the following: The Bureau ; and by adding at the end the following new paragraph: The Bureau shall, by regulation, exempt from the requirements of subsection
(a)any loan secured by a first lien on a consumer’s principal dwelling, if such loan is held by a creditor with assets of $50,000,000,000 or less. . 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: The Bureau shall, by regulation, provide exemptions to, or adjustments for, the provisions of this section for servicers that annually service 30,000 or fewer mortgage loans, in order to reduce regulatory burdens while appropriately balancing consumer protections. .
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