To exempt small seller financers from certain licensing requirements.
Seller Finance Enhancement Act
This bill amends the S.A.F.E. Mortgage Licensing Act of 2008 to exempt from certain licensing and registration requirements a person (other than a depository institution) that: (1) originates not more than 24 residential mortgage loans in a 12-month period, and (2) originates residential mortgage loans only with respect to property owned by the person.
The Department of Housing and Urban Development and the Department of the Treasury shall jointly study and report to Congress on specified issues related to seller financing.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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