HR 5981 · 111th Congress 2009–2011, ended

To increase the flexibility of the Secretary of Housing and Urban Development with respect to the amount of premiums charged for FHA single family housing mortgage insurance, and for other purposes.

Introduced Jul 30, 2010 Originated House Sponsor Barney Frank D-MA

Fact sheet

Latest action · Aug 11, 2010 Became Public Law No: 111-229.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedJul 30, 2010
  2. Passed HouseJul 30, 2010
  3. Passed SenateAug 4, 2010
  4. To the PresidentAug 10, 2010
  5. Became lawAug 11, 2010

Summary

(This measure has not been amended since it was introduced. The expanded summary of the House passed version is repeated here.)

Amends the National Housing Act with respect to requirements for the insurance of mortgages secured by a one- to four-family dwelling which are obligations of the Mutual Mortgage Insurance Fund.

(Sec. 1) Authorizes the Secretary of Housing and Urban Development (HUD) to establish and collect annual premium payments of up to 1.5% of the remaining insured principal balance on such a dwelling. (Currently the Secretary is required to establish and collect annual premium payments of up to .5% of the remaining insured principal balance.)

Authorizes an annual premium of up to 1.55% of the remaining insured principal balance of any 30-year mortgage on such a dwelling involving an original principal obligation greater than 95% percent of such value. (Currently, an annual premium of up to 0.55% of the remaining insured principal balance on such a mortgage is required.)

Authorizes the Secretary to adjust the amount of any initial or annual premium through notice published in the Federal Register or mortgagee letter, which shall establish the effective date of any such adjustment.

(Sec. 2) Directs the Assistant Secretary of HUD who is the Federal Housing Commissioner to appear before specified congressional committees within 270 days after the enactment of this Act to discuss the finances, including premiums, of the Federal Housing Administration (FHA).

Cosponsors

Members who signed on, in the order they did.

No cosponsors are on file for this measure.

Actions 19

Everything that happened, newest first.

  1. Aug 11, 2010Became Public Law No: 111-229.
  2. Aug 11, 2010Signed by President.
  3. Aug 10, 2010Presented to President.
  4. Aug 5, 2010Message on Senate action sent to the House.
  5. Aug 4, 2010Cleared for White House.
Show all 19 actions

Subjects

Assigned by the Library of Congress. Policy area: Housing and Community Development.

Text 3

Each version as it was printed, newest first.

  1. —Enrolled Bill
  2. Aug 2, 2010Referred in Senate
  3. Jul 30, 2010Engrossed in House

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.