HR 5614
Affordable Homeownership Access Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Affordable Homeownership Access Act aims to make it easier for small businesses to provide financing for homes, known as ‘seller financing.’ It exempts these ‘seller financers’ from certain licensing requirements typically imposed on mortgage lenders, provided they meet specific criteria regarding the value of loans they originate and the number of loans they provide. The bill also clarifies that seller financing doesn't fall under existing definitions related to mortgage originations and directs agencies to study the impact of seller financing on affordable homeownership.
Sponsors
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Primary sponsor
Cosponsors
Alexander X. Mooney
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