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.

113th Congress, 2013–2015. Text as of Jan 14, 2013 (Introduced).

Status & Summary | PDF | Source: GPO and Cato Institute Deepbills

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.