1. Short title This Act may be cited as the Affordable Homeownership Access Act 2. Findings Congress finds the following: (1) Real-estate seller financing is a transaction in which the owner of a real estate property provides financing for the buyer of that property and the buyer makes some form of a down payment to the seller and then makes installment payments to the seller over a defined period of time. (2) Seller financers provide financing in lieu of the buyer choosing to obtain a loan from a bank. (3) The seller finance industry consists of small business owners who own real estate and provide financing on those properties to underserved borrowers who cannot or would prefer not to obtain traditional financing. (4) It is recognized that seller financers are governed by each State’s particular real estate and consumer protection laws (including ability to repay, deceptive trade practices, and usury laws), as well as State and Federal fair housing and equal opportunity laws. (5) Neither of those laws described under paragraph (4), nor the amendments made by this Act, are applicable to transactions known as contracts for deed, land installment contracts, lease options, options to buy, or rent-to-own agreements. 3. Exception for seller financers with respect to loan originator license or registration requirements Section 1504 of the S.A.F.E. Mortgage Licensing Act of 2008 ( 12 U.S.C. 5103 ) is amended by adding at the end the following: (c) Exception for seller financers The requirements of this title shall not apply to the following: (1) Real property seller financers Any person (other than a depository institution) who, during any 12-month period— (A) originates no residential mortgage loan or extension of credit secured by real property that (together with any improvements thereto) has a value of more than $200,000 (as calculated based on the principal amount of the loan or extension of credit and the amount of downpayment, if any)