Sec. 14006. Certain loans included as qualified mortgages
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Section 129C(b)(2) of the Truth in Lending Act ( 15 U.S.C. 1639c(b)(2) ) is amended— in subparagraph (A)— in clause (viii), by striking and at the end; in clause (ix), by striking the period at the end and inserting ; and ; and by adding at the end the following: that is originated and retained in portfolio for a period of at least 3 years by a creditor having less than $10,000,000,000 in total assets. ; and in subparagraph (E)— by striking The Board may, by regulation and inserting The Bureau shall, by regulation ; and by amending clause
(iv)to read as follows: that is extended by a creditor that— originates and retains the balloon loans in portfolio for a period of at least 3 years; and together with all affiliates, has total assets of $10,000,000,000 or less. .
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Sec. 14006
Certain loans included as qualified mortgages
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