Seller Finance Regulation Reduction Act

Summary

Seller Finance Regulation Reduction Act - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to exempt from certain licensing and registration requirements any person (other than a depository institution) who: (1) has less than $25 million in assets; and (2) only originates residential mortgage loans with respect to property owed by the person, and in an amount of $150,000 or less. Amends the Truth in Lending Act, with respect to minimum standards for residential mortgage loans, to prohibit, in determining whether a residential mortgage loan is a qualified mortgage, from applying to loans originated by such a person certain guidelines and regulations relating to ratios of total monthly debt to monthly income.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 September 2014

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• Introduced in House (PDF)

  Introduced in House · EN · 18 September 2014

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• Introduced in House

  summary · EN · 18 September 2014

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