H. R. 245
IN THE HOUSE OF REPRESENTATIVES
January 14, 2013
Mr. Schweikert introduced the following bill; which was referred to the Committee on Financial Services
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.
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—
by striking clause (ii); and
by redesignating clauses (iii), (iv), and (v) as clauses (ii), (iii), and (iv), respectively.