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Legislative Update—U.S. House of Representatives

May 28th, 2013 Comments off

From the Manufactured Housing Institute (MHI)’s newsletter MHProNews learns Rep. Blaine Luetkemeyer (R-MO), a member of the House Financial Services Committee, has introduced the Community Lending Enhancement and Regulatory Relief Act (CLEAR Act). H. R. 1750 is designed to help smaller financial institutions obtain capital and provide loans to their clients. The newsletter says: “Among the changes included in the bill is an increase from $500 million to $5 billion in the threshold included in the Federal Reserve’s Small Bank Holding Company capital guidelines, relief from escrow requirements, mortgage relief for loans held in portfolio and an increase in the smaller servicer exemption threshold from 5,000 to 20,000 loans.”

(Image credit: Manufactured Housing Institute)