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- H.R.162
H.R.162: To amend the Truth in Lending Act to allow certain loans that are not fully amortizing to be used in seller carryback financing on residential mortgage loans.
About This Bill
- Introduced Jan. 6, 2015
- Latest Major Action Jan. 6, 2015
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Amends the Truth in Lending Act to modify the exclusion from the definition of "mortgage originator" of a seller providing mortgage financing of three properties in a 12-month period to remove the requirement that a residential mortgage loan be fully amortizing. (Allows treatment as a mortgage originator of any seller providing mortgage financing of three properties in a 12-month period even if the mortgage loan involved is not fully amortizing.)
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| Jan. 6, 2015 |
Referred to the House Committee on Financial Services.
|
| Jan. 6, 2015 |
Introduced in the House by David Schweikert (R-Ariz.) |