< Back to H.R. 6694 (112th Congress, 2011–2013)

Text of the To amend the definition of mortgage originator under the Dodd-Frank Wall Street Reform and Consumer Protection Act to include certain ...

...to include certain employees of a retailer of manufactured homes.

This bill was introduced on December 20, 2012, in a previous session of Congress, but was not enacted. The text of the bill below is as of Dec 20, 2012 (Introduced).

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Source: GPO

I

112th CONGRESS

2d Session

H. R. 6694

IN THE HOUSE OF REPRESENTATIVES

December 20, 2012

introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the definition of mortgage originator under the Dodd-Frank Wall Street Reform and Consumer Protection Act to include certain employees of a retailer of manufactured homes.

1.

Mortgage originator definition

(a)

Amendment to definition

Section 1401 of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended, in paragraph (2)(C)(ii) of the matter proposed to be added to section 103 of the Truth in Lending Act, by striking who is not described in clause (i) or (iii) of subparagraph (A) and who does not advise a consumer on loan terms (including rates, fees, and other costs) and inserting unless such employee receives compensation or gain for engaging in activities described in subparagraph (A) that is in excess of any compensation or gain received in a comparable cash transaction.

(b)

Technical amendments

(1) Section 1401 of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended, in the matter proposed to be added to section 103 of the Truth in Lending Act, by redesignating subsection (cc) as subsection (dd).

(2)

Section 1431(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended—

(A)

by striking subsection (cc) and inserting subsection (dd); and

(B)

in the matter proposed to be added to section 103 of the Truth in Lending Act by redesignating subsection (dd) as subsection (ee).