H.R. 245
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.
Referred to the House Committee on Financial Services.
Sponsor
Rep. Schweikert, David [R-AZ-6]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- House
- Bill Type
- HR
- Bill Number
- 245
- Congress
- 113
- Introduced Date
- Jan 14, 2013
- Policy Area
- Housing and Community Development
- Is Law
- No
Referred to the House Committee on Financial Services.
Source: House floor actions
Introduced in House
Source: Library of Congress
Introduced in House
Source: Library of Congress
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.)
Financial Services Committee
Introduced in House
Jan 14, 2013