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.

H.R. 162 · 114th Congress · Jan 6, 2015 · Lineage

A BILL

Section 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.

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 1 Removing limitation

Cite this provision

Incoming references