Sept 24th, 2014 — The Seller Finance Coalition (SFC) today praised the introduction of the Seller Financing Regulation Reduction Act in the U.S. House of Representatives by Representative Roger Williams (R-TX-25). This legislation is aimed at addressing the unnecessary and overly burdensome federal regulations that threaten the survival of the seller finance industry. H.R. 5667 would relieve seller-financers from the unintended consequences stemming from both the Secure and Fair Enforcement for Licensing (SAFE) Act and the Wall Street Reform and Consumer Protection (Dodd-Frank) Act.
H.R. 5667: To exempt small mortgage originators from certain licensing requirements and debt-to-income requirements for qualified mortgages.
You can go to GovTrack.us to learn all the details on this bill, to track the bill, and to contact your legislators with your opinion.