US HB162 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 6 2015 - 25% progression, died in committee
Action: 2015-01-06 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 6 2015 - 25% progression, died in committee
Action: 2015-01-06 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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. 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.)
Title
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.
Sponsors
| Rep. David Schweikert [R-AZ] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-01-06 | House | Referred to the House Committee on Financial Services. |
| 2015-01-06 | House | Introduced in House |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/house-bill/162/all-info |
| Text | https://www.congress.gov/114/bills/hr162/BILLS-114hr162ih.pdf |
