Political Quotes

“Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 5953) to provide regulatory relief to charitable organizations that provide housing assistance, and for other purposes. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 5953 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. (a) Short Title.--This Act may be cited as the ``Building Up Independent Lives and Dreams Act'' or the ``BUILD Act''. SEC. 2. MORTGAGE LOAN TRANSACTION DISCLOSURE REQUIREMENTS. (a) TILA Amendment.--Section 105 of the Truth in Lending Act (15 U.S.C. 1604) is amended by inserting after subsection (d) the following: ``(e) Disclosure for Charitable Mortgage Loan Transactions.--With respect to a mortgage loan transaction involving a residential mortgage loan offered at zero percent interest primarily for charitable purposes by an organization having tax-exempt status under section 501(c)(3) of the Internal Revenue Code of 1986, forms HUD-1 and GFE (as defined under section 1024.2(b) of title 12, Code of Federal Regulations), together with a disclosure substantially in the form of the Loan Model Form H-2 (as defined under Appendix H to section 1026 of title 12, Code of Federal Regulations) shall, collectively, be an appropriate model form for purposes of subsection (b).''. (b) RESPA Amendment.--Section 4 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C.…”