Community Lending Enhancement and Regulatory Relief Act of 2017 or the CLEARR Act of 2017

This bill

• exempts small banks from certain mortgage escrow requirements and from mandatory disclosures of loan servicing transfers;
• exempts small mortgage loans from specified property appraisal requirements;
• requires federal banking agencies to revise regulations regarding capital requirements for mortgage servicing assets;
• modifies the authority of the Consumer Financial Protection Bureau (CFPB) over unfair, deceptive, or abusive acts;
• limits the institutions over which the CFPB has a supervisory role;
• limits prohibitions on discrimination under the Equal Credit Opportunity Act and the Fair Housing Act to intentional acts;
• modifies certain mortgage loan recordkeeping and disclosure requirements;
• limits the authority of a federal banking agency to request or order a deposit institution to terminate a customer account;
• limits the liability of creditors and mortgage originators for violating certain ability-to-pay requirements; and
• otherwise modifies provisions related to financial institutions.