Bill Text: MA H3691 | 2009-2010 | 186th General Court | Introduced

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Bill Title: Private mortgage insurance and the Affordable Housing Trust Fund

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 4/28 at 10:30 AM in Hearing Room B2 [H3691 Detail]

Download: Massachusetts-2009-H3691-Introduced.html

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The Commonwealth of Massachusetts

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PRESENTED BY:

Steven M. Walsh

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
                Court assembled:

                The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:

An Act relative to private mortgage insurance and the affordable housing trust fund.

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PETITION OF:

 

Name:	District/Address:
Steven M. Walsh	11th Essex

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 1294 OF 2007-2008.]

The Commonwealth of Massachusetts

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In the Year Two Thousand and Nine

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An Act relative to private mortgage insurance and the affordable housing trust fund.

                Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

            Section 3 of Chapter 121D of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by inserting at the end of the section the following:-

(e) Persons or parties who are issued loans as part of the fund which exceed eighty per cent of the value of the real estate shall not be required to insure or guarantee the loan by a mortgage insurance company as otherwise required in Section 2 of 167E.