< Back to H.R. 245 (113th Congress, 2013–2015)

Text of the To amend the Truth in Lending Act to allow certain loans that are not fully amortizing to be used in ...

...be used in seller carryback financing on residential mortgage loans.

This bill was introduced on January 14, 2013, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jan 14, 2013 (Introduced).

I

113th CONGRESS

1st Session

H. R. 245

IN THE HOUSE OF REPRESENTATIVES

January 14, 2013

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

A BILL

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.

1.

Removing limitation

Section 103(cc)(2)(E) of the Truth in Lending Act (as added by section 1401 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) is amended—

(1)

by striking clause (ii); and

(2)

by redesignating clauses (iii), (iv), and (v) as clauses (ii), (iii), and (iv), respectively.