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Code · BILL · 113th Congress · H.R. 5148 (Introduced in House) — To amend the Truth in Lending Act to exempt certain higher-risk mortgages from property appraisal requirements and to... · Sec. 2

Sec. 2. Exemption from property appraisal requirements for lower-cost dwellings

62 words·~1 min read·/bill/113/hr/5148/ih/section-2

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Section 129H of the Truth in Lending Act ( 15 U.S.C. 1639h ) is amended by adding at the end the following new subsection: This section shall not apply to a higher-risk mortgage loan of $250,000 or less if such loan appears on the balance sheet of the creditor of such loan for a period of not less than 3 years. .
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Sec. 2
Exemption from property appraisal requirements for lower-cost dwellings
U.S.C.§ 1639h
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