Sec. 501. Mortgage originator definition
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/bill/115/hr/10/rh/section-501A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 103 of the Truth in Lending Act ( 15 U.S.C. 1602 ) is amended— by redesignating the second subsection
(cc)and subsection
(dd)as subsections
(dd)and (ee), respectively; and in paragraph (2)(C) of subsection (dd), as so redesignated, by striking an employee of a retailer of manufactured homes who is not described in clause
(i)or
(iii)of subparagraph
(A)and who does not advise a consumer on loan terms (including rates, fees, and other costs) and inserting a retailer of manufactured or modular homes or its employees unless such retailer or its employees receive compensation or gain for engaging in activities described in subparagraph
(A)that is in excess of any compensation or gain received in a comparable cash transaction .
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Sec. 501
Mortgage originator definition
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