US Congress House Bill 2162 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Engrossed on July 10 2019 - 50% progression, died in committee
Action: 2019-07-10 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Engrossed) [PDF]

Modifies the discount given by the Federal Housing Administration (FHA) on single-family mortgage-insurance premium payments for first-time homebuyers who complete a financial-management counseling program. Under current law, the maximum premium amount for such homebuyers is 2.75% of the original insured principal obligation of the mortgage (compared to 3% for other homebuyers). The bill instead requires that the premium amount for such homebuyers be 25 basis points (0.25% of the original insured principal obligation of mortgage) lower than the amount otherwise established by the FHA. The bill also specifies that first-time homebuyers must complete the financial-management counseling program prior to applying for a mortgage or entering into a sales agreement.

Housing Financial Literacy Act of 2019

Rep. Joyce Beatty [D-OH]

Rep. Steve Stivers [R-OH]

Rep. David Scott [D-GA]

Date	Chamber	Action
2019-07-10	Senate	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2019-07-09	House	Motion to reconsider laid on the table Agreed to without objection.
2019-07-09	House	On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5278)
2019-07-09	House	DEBATE - The House proceeded with forty minutes of debate on H.R. 2162.
2019-07-09	House	Considered under suspension of the rules. (consideration: CR H5278-5280)
2019-07-09	House	Ms. Waters moved to suspend the rules and pass the bill, as amended.
2019-06-11	House	Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 6.
2019-06-11	House	Committee Consideration and Mark-up Session Held.
2019-04-09	House	Referred to the House Committee on Financial Services.
2019-04-09	House	Introduced in House

SB3639 (Related) 2020-05-07 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/2162/all-info
Text	https://www.congress.gov/116/bills/hr2162/BILLS-116hr2162ih.pdf
Text	https://www.congress.gov/116/bills/hr2162/BILLS-116hr2162eh.pdf