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S. 639Senate115th Congress (2017-2019)In Committee

HOME Act

Sponsored by Rob PortmanSen. Rob Portman (R-OH)
Introduced March 15, 2017

AI-Generated Summary

Updated April 15, 2026 at 1:43 PM UTC

The HOME Act clarifies that nonprofit groups such as Habitat for Humanity can receive donated mortgage appraisal services without violating the Truth in Lending Act. It treats those donated appraisals as "customary and reasonable," removing a regulatory barrier for charities that rely on volunteer appraisers.

Key Provisions

  • Amends the Truth in Lending Act to add a rule stating that if a fee appraiser voluntarily donates appraisal services to a qualifying nonprofit, the donation is considered customary and reasonable for purposes of the Act.

Legislative Activity

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1 earlier action
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

March 15, 2017

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SenateIntro Referral

Introduced in Senate

March 15, 2017

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

March 15, 2017

Bill Text

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Introduced in SenateIssued March 15, 2017

II

115th CONGRESS

1st Session

S. 639

IN THE SENATE OF THE UNITED STATES

March 15, 2017

Mr. Portman (for himself, Mr. Bennet, and Mrs. Capito) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To clarify that nonprofit organizations such as Habitat for Humanity may accept donated mortgage appraisals, and for other purposes.

1.

Short title

This Act may be cited as the Housing Opportunities Made Easier Act or the HOME Act.

2.

Exemption from Truth in Lending Act

Section 129E(i) of the Truth in Lending Act (15 U.S.C. 1639e(i)) is amended by adding at the end the following:

(4)

Rule of construction related to appraisal donations

For purposes of paragraph (1), if a fee appraiser voluntarily donates appraisal services to an organization described in section 170(c)(2) of the Internal Revenue Code of 1986, such voluntary donation shall be deemed customary and reasonable.

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