Bill113th CongressFiled Jan 14, 2013Housing and Community Development
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.
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What it doesSummary introduced in house (Jan 14, 2013)
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.)
What just happenedJan 14, 2013
Referred to the House Committee on Financial Services.
Who’s behind it
Rep. Schweikert, David [R-AZ-6](R-AZ)Sponsor
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- Introduced in HouseJan 14, 2013
- Jan 14, 2013IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Jan 14, 2013IntroReferralIntro-H
Introduced in House
- Jan 14, 2013IntroReferral1000
Introduced in House