H.R.2162 - Housing Financial Literacy Act of 2019116th Congress (2019-2020)
|Sponsor:||Rep. Beatty, Joyce [D-OH-3] (Introduced 04/09/2019)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Meetings:||06/11/19 2:00PM 05/08/19 10:00AM|
|Latest Action:||Senate - 07/10/2019 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Text: H.R.2162 — 116th Congress (2019-2020)All Information (Except Text)
Text available as:
Referred in Senate (07/10/2019)
Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To require the Secretary of Housing and Urban Development to discount FHA single-family mortgage insurance premium payments for first-time homebuyers who complete a financial literacy housing counseling program.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Housing Financial Literacy Act of 2019”.
The second sentence of subparagraph (A) of section 203(c)(2) of the National Housing Act (12 U.S.C. 1709(c)(2)(A)) is amended—
(1) by inserting before the comma the following: “and such program is completed before the mortgagor has signed an application for a mortgage to be insured under this title or a sales agreement”; and
(2) by striking “not exceed 2.75 percent of the amount of the original insured principal obligation of the mortgage” and inserting “be 25 basis points lower than the premium payment amount established by the Secretary under the first sentence of this subparagraph”.
Passed the House of Representatives July 9, 2019.
|Attest:||cheryl l. johnson,|