,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #ajcf  ,,in ,,the ,,house ,,of  
,,representatives  ,february #g1        
#bjai,mr4 ,riggleman introduced the     
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,truth in      
,lending ,act to clarify the exclusion  
for seller-financers from the definition
 of mortgage originator1 and for other  
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,preserving ,access 
to ,rural ,installment ,transactions for
 ,years ,act of #bjai or the ,,parity   
,act of #bjai4  #b4 ,amendments related 
to the exclusion of seller-financers in 
the definition of mortgage originator   
,section #ajc7;dd77#b77;,e7 of the      
,truth in ,lending ,act 7#ae ,u4,s4,c4  
#afjb7;dd77#b77;,e77 is amended--  7#a7 
in the matter preceding clause 7i7--    
7,a7 by striking #c properties and      
inserting #e properties2  7,b7 by       
striking a person1 estate1 or trust and 
inserting a person or entity 7including 

a corporation1 partnership1             
proprietorship1 association1            
cooperative1 estate1 or trust72 and     
7,c7 by striking such person1 estate1 or
 trust and inserting such a person or   
entity2  7#b7 in clause 7i7--  7,a7 by  
inserting or after the semicolon2  7,b7 
by striking a person1 estate1 or trust  
that has constructed and inserting  such
 a person or entity that-- 7,i7 has     
constructed  2 and  7,c7 by inserting at
 the end the following new subclause3   
7,,ii7 has received any other           
compensation related to such loan1      
including origination points or fees and
 excluding interest payments2  2  7#c7  
by striking clauses 7ii71 7iii71 and    
7iv72 and  7#d7 by inserting after      
clause 7i7 the following new clauses3   
7ii7 is not a high-cost mortgage2  7iii7
 does not include terms under which the 
outstanding principal balance will      
increase at any time over the course of 
the loan because the regular periodic   
payments do not cover the full amount of

 interest due2  7iv7 has-- 7,i7 a fixed 
rate2 or  7,,ii7 an adjustable rate that
 was not determined by a prior          
contractual obligation between the      
consumer and such a person or entity    
and--  7aa7 is adjustable after #e or   
more years 7as determined by the        
addition of a margin to a widely        
available index rate7 subject to        
reasonable annual and lifetime          
limitations on interest rate increases  
or is determined by a prior obligation  
that is included in or assumed by the   
terms of the loan2 or  7bb7 with respect
 to any part of such loan contractually 
required to be used to make payments on 
an existing mortgage loan secured by    
such a property1 is adjustable on or    
after the date of a rate adjustment on  
such existing mortgage loan2 and  4