1. Short title This Act may be cited as the Securing Access to Affordable Mortgages Act . 2. Access to affordable mortgages (a) Exemption from property appraisal requirements for lower-Cost dwellings Section 129H of the Truth in Lending Act ( 15 U.S.C. 1639h ) is amended by adding at the end the following new subsection: (g) Exemption for certain mortgages The Bureau, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration Board, and the Federal Housing Finance Agency shall exempt, by rule, a mortgage loan of $250,000 or less from the requirements of this section if such loan appears on the balance sheet of the creditor of such loan for a period of not less than 3 years. . (b) Exemption from penalties for failure To report appraisers Paragraph (1) of section 129E(k) of the Truth in Lending Act ( 15 U.S.C. 1639e(k)(1) ) is amended by inserting after this section the following: , other than subsection (e), . (c) Exemption from appraisal standard requirements for lower-Cost dwellings Section 1110 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 3339 ) is amended— (1) by striking Each Federal financial institutions regulatory agency and the Resolution Trust Corporation and inserting the following: (a) Real estate appraisals in connection with federally related transactions Each Federal financial institutions regulatory agency ; (2) by striking each such agency or instrumentality and inserting each such agency ; (3) in the flush left matter following paragraph (3), by striking Each such agency or instrumentality and inserting the following: (b) Additional standards Each such agency described under subsection (a)