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HR 245 113th Congress House Housing and Community Development Housing finance and home ownership

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.

Introduced: January 14, 2013 Introduced by: Schweikert, David Republican · Arizona See on congress.gov
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 14, 2013
Referred to the House Committee on Financial Services.
Jan 14, 2013
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Truth in Lending Act to modify the exclusion from the definition of "mortgage originator" of a seller providing mortgage financing of three properties in a 12-month period to remove the requirement that a residential mortgage loan be fully amortizing. (Allows treatment as a mortgage originator of any seller providing mortgage financing of three properties in a 12-month period even if the mortgage loan involved is not fully amortizing.)

What's happening now January 14, 2013

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 245: 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.. 113th Congress. Open America. https://openamerica.io/bill/113-HR-245/
MLA
"H.R. 245: 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.." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-245/.
Bluebook (legal)
H.R. 245, 113th Cong. (2026), https://openamerica.io/bill/113-HR-245/.
Markdown link
[H.R. 245: 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.](https://openamerica.io/bill/113-HR-245/)
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