H.R.3372 - To amend the National Housing Act of 1934 to limit eligibility for mortgage insurance based on borrower income, and for other purposes.101st Congress (1989-1990)
|Sponsor:||Rep. Kanjorski, Paul E. [D-PA-11] (Introduced 09/28/1989)|
|Committees:||House - Banking, Finance, and Urban Affrs|
|Latest Action:||10/01/1989 Referred to the Subcommittee on Housing and Community Development. (All Actions)|
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Summary: H.R.3372 — 101st Congress (1989-1990)All Bill Information (Except Text)
Introduced in House (09/28/1989)
Amends the National Housing Act of 1934 to limit mortgage insurance eligibility to mortgagors whose family income is: (1) 115 percent or less of area median family income; and (2) 125 percent or less of statewide median income.
Repeals mortgage insurance ceilings on one-to-four family residences.