Seller Finance Enhancement Act
Latest action · Mar 2, 2017 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 2, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 23
Members who signed on, in the order they did. Signatures ran from Mar 2, 2017 to Jun 1, 2018; 2 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-KY | Andy Barr | Original | Mar 2, 2017 |
| D-TX | Henry Cuellar | Original | Mar 2, 2017 |
| R-TX | Kenny Marchant | Apr 6, 2017 | |
| R-MN | Tom Emmer | Apr 6, 2017 | |
| R-TX | John Abney Culberson | Apr 25, 2017 | |
| R-CO | Scott R. Tipton | Apr 25, 2017 | |
| R-TX | Brian Babin | Jun 21, 2017 | |
| R-NC | Robert Pittenger | Jun 21, 2017 | |
| R-TX | Lamar Smith | Jul 25, 2017 | |
| R-TX | Ted Poe | Jul 27, 2017 | |
| R-NE | Don Bacon | Sep 5, 2017 | |
| R-MO | Sam Graves | Sep 5, 2017 | |
| R-OH | Steve Stivers | Sep 5, 2017 | |
| I-MI | Paul Mitchell | Sep 14, 2017 | |
| R-TX | John Ratcliffe | Oct 10, 2017 | |
| R-OH | Bob Gibbs | Oct 12, 2017 | |
| R-OH | Brad R. Wenstrup | Oct 23, 2017 | |
| R-OH | Robert E. Latta | Oct 24, 2017 | |
| R-NC | Ted Budd | Oct 24, 2017 | |
| R-MI | Mike Bishop | Jan 10, 2018 | |
| R-IN | Todd Rokita | Jan 17, 2018 | |
| R-CA | Duncan Hunter | Apr 16, 2018 | |
| D-TX | Vicente Gonzalez | Jun 1, 2018 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Mar 2, 2017 |
Actions 2
Everything that happened, newest first.
- Mar 2, 2017Introduced in House
- Mar 2, 2017Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 37, March 2, 2017, page H1532.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To exempt small seller financers from certain licensing requirements.
- Short Titles as Introduced
- Seller Finance Enhancement Act
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Mar 2, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
