Housing Financial Literacy Act of 2019
Latest action · Jul 10, 2019 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
- IntroducedApr 9, 2019
- Passed HouseJul 9, 2019
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Housing Financial Literacy Act of 2019
This bill 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.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Apr 9, 2019 to Jun 12, 2019, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-OH | Steve Stivers | Original | Apr 9, 2019 |
| D-GA | David Scott | Jun 12, 2019 |
Actions 11
Everything that happened, newest first.
- Jul 10, 2019Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jul 9, 2019Considered under suspension of the rules. (consideration: CR H5278-5280)
- Jul 9, 2019DEBATE - The House proceeded with forty minutes of debate on H.R. 2162.
- Jul 9, 2019Motion to reconsider laid on the table Agreed to without objection.
- Jul 9, 2019Ms. Waters moved to suspend the rules and pass the bill, as amended.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 3639 | Housing Financial Literacy Act of 2020 | Related bill | May 7, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 3
Each version as it was printed, newest first.
- Jul 10, 2019Referred in Senate
- Jul 9, 2019Engrossed in House
- Apr 9, 2019Introduced 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.
