HOME MORTGAGE DISCLOSURE.

SEC. 565. HOME MORTGAGE DISCLOSURE. (a) Applicability to Mortgage Banking Affiliates.— (1) Section 303(2) of the Home Mortgage Disclosure Act of 1975 is amended— (A) by striking “or” the first place it appears; and (B) by inserting before the semicolon at the end the following: “, mortgage banking subsidiary of a bank holding company or savings and loan holding company, or savings and loan service corporation that originates or purchases mortgage loans”. (2) Section 304 of the Home Mortgage Disclosure Act of 1975 is amended by adding at the end the following new subsection: “(g) The requirements of subsections (a) and (b) shall not apply with respect to mortgage loans that are— “(1) made by any mortgage banking subsidiary of a bank holding company or savings and loan holding company or by any savings and loan service corporation that originates or purchases mortgage loans; and “(2) approved by the Secretary for insurance under title I or II of the National housing Act.”. (3) The first sentence of section 311 of the Home Mortgage Disclosure Act of 1975 is amended by inserting after “306(b)” the following: “(and for each mortgagee making mortgage loans exempted under section 304(g))”. (4) The amendments made by this subsection shall be applicable to calendar years beginning after December 31, 1986. (b) Permanent Extension of General Authority.— The Home Mortgage Disclosure Act of 1975 is amended by striking section 312.