Housing Financial Literacy Act of 2017
Latest action · Feb 3, 2017 Referred to the House Committee on Financial Services.
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.
- IntroducedFeb 3, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Housing Financial Literacy Act of 2017
This bill amends the National Housing Act to modify 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 maximum 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.
Cosponsors 24
Members who signed on, in the order they did. Signatures ran from Feb 3, 2017 to May 19, 2017; 7 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-GA | David Scott | Original | Feb 3, 2017 |
| D-WA | Denny Heck | Original | Feb 3, 2017 |
| D-TX | Eddie Bernice Johnson | Original | Feb 3, 2017 |
| D-MD | Elijah E. Cummings | Original | Feb 3, 2017 |
| D-NY | Gregory W. Meeks | Original | Feb 3, 2017 |
| D-NY | Jose E. Serrano | Original | Feb 3, 2017 |
| R-OH | Steve Stivers | Original | Feb 3, 2017 |
| D-OH | Marcy Kaptur | Feb 15, 2017 | |
| D-TX | Vicente Gonzalez | Apr 25, 2017 | |
| D-FL | Al Lawson, Jr. | May 4, 2017 | |
| D-NJ | Bonnie Watson Coleman | May 4, 2017 | |
| D-NC | G. K. Butterfield | May 4, 2017 | |
| D-MI | John Conyers, Jr. | May 4, 2017 | |
| D-TX | Marc A. Veasey | May 4, 2017 | |
| D-IL | Robin L. Kelly | May 4, 2017 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Feb 3, 2017 |
Actions 2
Everything that happened, newest first.
- Feb 3, 2017Introduced in House
- Feb 3, 2017Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Extensions | Debate and remarks E932 | Joyce Beatty D-OH | Jun 29, 2017 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 19, February 3, 2017, page H977.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1908 | Housing Financial Literacy Act of 2015 | Reintroduction of | Apr 22, 2015 |
| HR 2162 | Housing Financial Literacy Act of 2019 | Reintroduced Bill | Jul 10, 2019 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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.
- Short Titles as Introduced
- Housing Financial Literacy Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Feb 3, 2017Introduced in House
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
