; and (II) shall consult with State and local governments and bond-issuing authorities. . 109. Escrow requirements relating to certain consumer credit transactions Section 129D(c) of the Truth in Lending Act ( 15 U.S.C. 1639d(c) ) is amended— (1) by redesignating paragraphs (1) through (4) as subparagraphs (A) through (D), respectively, and adjusting the margins accordingly; (2) in the matter preceding subparagraph (A), as so redesignated, by striking The Board and inserting the following: (1) In general The Bureau ; (3) in paragraph (1), as so redesignated, by striking the Board each place that term appears and inserting the Bureau ; and (4) by adding at the end the following: (2) Treatment of loans held by smaller institutions The Bureau shall, by regulation, exempt from the requirements of subsection (a) any loan made by an insured depository institution or an insured credit union secured by a first lien on the principal dwelling of a consumer if— (A) the insured depository institution or insured credit union has assets of $10,000,000,000 or less; (B) during the preceding calendar year, the insured depository institution or insured credit union and its affiliates originated 1,000 or fewer loans secured by a first lien on a principal dwelling; and (C) the transaction otherwise satisfies the criteria in sections 1026.35(b)(2)(iii) and 1026.35(b)(2)(v) of title 12, Code of Federal Regulations, or any successor regulation. . 110. No wait for lower mortgage rates (a) In general Section 129(b) of the Truth in Lending Act ( 15 U.S.C. 1639(b) ) is amended— (1) by redesignating paragraph (3) as paragraph (4)