H.R. 245 — Introduced in House

I 113th CONGRESS 1st Session 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 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.