,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #effg  ,,in ,,the ,,house ,,of  
,,representatives  ,september #ah1 #bjad
 ,mr4 ,williams introduced the following
 bill2 which was referred to the        
,committee on ,financial ,services  ,a  
,,bill  ,to exempt small mortgage       
originators from certain licensing      
requirements and debt-to-income         
requirements for qualified mortgages4   
#a4 ,short title ,this ,act may be cited
 as the ,seller ,finance ,regulation    
,reduction ,act4  #b4 ,exemptions for   
seller financers  7a7 ,loan originator  
license or registration requirements    
,section #aejd of the ,s4,a4,f4,e4      
,mortgage ,licensing ,act of #bjjh 7#ab 
,u4,s4,c4 #eajc7 is amended by adding at
 the end the following3  7c7 ,exception 
for seller financers ,the requirements  
of this title shall not apply to any    
person 7other than a depository         
institution7 who--  7#a7 has less than  
#be1jjj1jjj in assets2 and  7#b7 only   
originates residential mortgage loans   

that--  7,a7 are with respect to        
property that is owned by such person2  
and  7,b7 are in an amount of #aej1jjj  
or less4  4  7b7 ,debt-to-,income ratios
 under qualified mortgages ,section     
#abi;,c7b77#b77;,a7 of the ,truth in    
,lending ,act 7#ae ,u4,s4,c4            
#afci;c7b77#b77;,a77 is amended by      
inserting at the end the following      
flush-left text3  ,in determining       
whether a residential mortgage loan is a
 qualified mortgage1 guidelines and     
regulations issued pursuant to clause   
7vi7 shall not apply to a loan          
originated by a person 7other than a    
depository institution 7as defined under
 section #c of the ,federal ,deposit    
,insurance ,act7 or a credit union7 who 
has less than #be1jjj1jjj in assets and 
where such loan is with respect to      
property that is owned by such person   
and such loan is in an amount of        
#aej1jjj or less4 4