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Latest Update: Wednesday, July, 09th 2008
To modernize and update the National Housing Act and enable the Federal Housing Administration to use risk-based pricing to more effectively reach underserved borrowers, and for other purposes. 9/18/2007--Passed House amended. (There are 2 other summaries) Expanding American Homeownership Act of 2007 - (Sec. 3) Amends the National Housing Act (Act) to: (1) modify requirements governing the maximum principal loan obligation, changing it to 125% of the median one-family house price in the area; and (2) extend the mortgage term from 35 to 40 years. (Sec. 5) Revises eligibility criteria for cash down payment for mortgage insurance. Alters the formula for determining the principal obligation to set the loan-to-value (LTV) for a Federal Housing Administration (FHA) single family home at 97.75 % of the appraised value of the property (plus the amount of the mortgage insurance premium paid at the time the mortgage is insured, as under current law). [...] show full description
- 09/19/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 09/18/2007 - Considered under the provisions of rule H. Res. 650. (consideration: CR H10447-10481 text of measure as reported in House: CR H10456-10463)
- 09/18/2007 - H.AMDT.794 Amendment (A001) offered by Mr. Cardoza. (consideration: CR H10463-10465 text: CR H10463) Amendment raises the FHA single family loan limit, by establishing such limit in each area as the lower of (a) 125% of the local median area home price or (b) 175% of the national GSE conforming loan limit retains the FHA loan floor provision in the reported bill of 65% of the GSE conforming loan limit and also gives HUD authority to raise these resulting loan limit amounts by up to $100,000 by area and/or by unit size "if market conditions warrant.".
- 09/18/2007 - H.AMDT.795 Amendment (A002) offered by Mr. Tierney. (consideration: CR H10465 text: CR H10465) Amendment directs the Secretary of the Department of Housing and Urban Development to provide mortgage insurance premium refunds to eligible borrowers of FHA insured loans, which were closed prior to December 8, 2004, but which were not endorsed until December 8, 2004 or after that date, and authorizes such sums as may be necessary for such refunds.
- 09/18/2007 - H.AMDT.796 Amendment (A003) offered by Mr. Miller, Gary. (consideration: CR H10465-10467 text: CR H10465) Amendment allows qualified down payment assistance providers to participate in the FHA program if certain conditions are satisfied to ensure that the down payment assistance program is legitimate and that the gift that is provided to the homeowner and the home buyer is truly a gift.
show all actions- 09/19/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 09/18/2007 - Considered under the provisions of rule H. Res. 650. (consideration: CR H10447-10481 text of measure as reported in House: CR H10456-10463)
- 09/18/2007 - H.AMDT.794 Amendment (A001) offered by Mr. Cardoza. (consideration: CR H10463-10465 text: CR H10463) Amendment raises the FHA single family loan limit, by establishing such limit in each area as the lower of (a) 125% of the local median area home price or (b) 175% of the national GSE conforming loan limit retains the FHA loan floor provision in the reported bill of 65% of the GSE conforming loan limit and also gives HUD authority to raise these resulting loan limit amounts by up to $100,000 by area and/or by unit size "if market conditions warrant.".
- 09/18/2007 - H.AMDT.795 Amendment (A002) offered by Mr. Tierney. (consideration: CR H10465 text: CR H10465) Amendment directs the Secretary of the Department of Housing and Urban Development to provide mortgage insurance premium refunds to eligible borrowers of FHA insured loans, which were closed prior to December 8, 2004, but which were not endorsed until December 8, 2004 or after that date, and authorizes such sums as may be necessary for such refunds.
- 09/18/2007 - H.AMDT.796 Amendment (A003) offered by Mr. Miller, Gary. (consideration: CR H10465-10467 text: CR H10465) Amendment allows qualified down payment assistance providers to participate in the FHA program if certain conditions are satisfied to ensure that the down payment assistance program is legitimate and that the gift that is provided to the homeowner and the home buyer is truly a gift.
- 09/18/2007 - H.AMDT.797 Amendment (A004) offered by Mr. Bishop (NY). (consideration: CR H10467 text: CR H10467) Amendment clarifies requirements on reverse mortgages for seniors who own permanent foundation homes on leased land.
- 09/18/2007 - H.AMDT.798 Amendment (A005) offered by Mr. Hensarling. (consideration: CR H10467-10469, H10477 text: CR H10467) Amendment sought to remove the funding mechanism in the bill for the Affordable Housing Fund.
- 09/18/2007 - H.AMDT.799 Amendment (A006) offered by Mr. Tiberi. (consideration: CR H10469-10470 text: CR H10469) Amendment requires the Secretary of Housing and Urban Development to ensure high-risk borrowers and borrowers who are applying for zero down-payment loans to receive housing counsel.
- 09/18/2007 - H.AMDT.800 Amendment (A007) in the nature of a substitute offered by Mrs. Biggert. (consideration: CR H10470-10476, H10477-10478 text: CR H10470-10474) Amendment in the nature of a substitute sought to replace the language in the bill with the text of H.R. 5121, the Expanding American Homeownership Act of 2006, which passed the House on July 25, 2006.
- 09/18/2007 - Rule H. Res. 650 passed House.
- 09/18/2007 - Considered under the provisions of rule H. Res. 650. (consideration: CR H10445-10447, H10447-10481 text of measure as reported in House: CR H10456-10463)
- 09/18/2007 - House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 650 and Rule XVIII.
- 09/18/2007 - The Speaker designated the Honorable Stephanie Tubbs Jones to act as Chairwoman of the Committee.
- 09/18/2007 - H.AMDT.794 Amendment (A001) offered by Mr. Cardoza. (consideration: CR H10463-10465 text: CR H10463) An amendment numbered 2 printed in House Report 110-330 to raise the FHA single family loan limit, by establishing such limit in each area as the lower of (a) 125% of the local median area home price or (b) 175% of the national GSE conforming loan limit retain the FHA loan floor provision in the reported bill of 65% of the GSE conforming loan limit and also gives HUD authority to raise these resulting loan limit amounts by up to $100,000 by area and/or by unit size `if market conditions warrant.'.
- 09/18/2007 - H.AMDT.794 On agreeing to the Cardoza amendment (A001) Agreed to by voice vote.
- 09/18/2007 - H.AMDT.795 Amendment (A002) offered by Mr. Tierney. (consideration: CR H10465 text: CR H10465) An amendment numbered 1 printed in House Report 110-330 to direct the Secretary of the Department of Housing and Urban Development to provide mortgage insurance premium refunds to eligible borrowers of FHA insured loans, which were closed prior to December 8, 2004, but which were not endorsed until December 8, 2004 or after that date, and authorizes such sums as may be necessary for such refunds.
- 09/18/2007 - H.AMDT.795 On agreeing to the Tierney amendment (A002) Agreed to by voice vote.
- 09/18/2007 - H.AMDT.796 Amendment (A003) offered by Mr. Miller, Gary. (consideration: CR H10465 text: CR H10465) An amendment numbered 3 printed in House Report 110-330 to allow qualified down payment assistance providers to participate in the FHA Program if certain conditions are satisfied (i.e. no obligation for mortgagor to repay and net worth requirement). The Secretary shall consider as cash or its equivalent any amounts gifted by a family member, the mortgagor's employer or labor union, or a qualified homeownership assistance entity, but only if there is no obligation on the part of the mortgagor to repay the gift.
- 09/18/2007 - H.AMDT.796 On agreeing to the Miller, Gary amendment (A003) Agreed to by voice vote.
- 09/18/2007 - H.AMDT.797 Amendment (A004) offered by Mr. Bishop (NY). (consideration: CR H10467 text: CR H10467) An amendment numbered 4 printed in House Report 110-330 to clarify requirements on reverse mortgages for seniors who own permanent foundation homes on leased land.
- 09/18/2007 - H.AMDT.797 On agreeing to the Bishop (NY) amendment (A004) Agreed to by voice vote.
- 09/18/2007 - Rule provides for consideration of H.R. 1852 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
- 09/18/2007 - H.AMDT.798 Amendment (A005) offered by Mr. Hensarling. (consideration: CR H10467-10469, H10477 text: CR H10467) An amendment numbered 5 printed in House Report 110-330 to strike the allowable use of FHA savings for an affordable housing fund.
- 09/18/2007 - ORDER OF PROCEDURE - Mr. Frank (MA) asked unanimous consent that, during further consideration of H.R. 1852 in the Committee of the Whole, pursuant to H. Res. 650, amendment No. 2 may be offered out of order and by a cosponsor. Agreed to without objection.
- 09/18/2007 - H.AMDT.799 Amendment (A006) offered by Mr. Tiberi. (consideration: CR H10469-10470 text: CR H10469) An amendment numbered 6 printed in House Report 110-330 to require the Secretary to ensure that the mortgagor receives counseling at the time of application.
- 09/18/2007 - GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1852.
- 09/18/2007 - H.AMDT.799 On agreeing to the Tiberi amendment Agreed to by voice vote.
- 09/18/2007 - DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Cardoza amendment.
- 09/18/2007 - H.AMDT.800 Amendment (A007) in the nature of a substitute offered by Mrs. Biggert. (consideration: CR H10470-10476, H10477-10478 text: CR H10470-10474) An amendment in the nature of a substitute numbered 7 printed in House Report 110-330 to reform the Federal Housing Administration's (FHA) single-family mortgage insurance activities and would allow FHA to base each borrower's mortgage insurance premiums on the risk that the borrower poses to the FHA Mortgage Insurance Fund, with slight variations. Under this proposal, mortgage insurance premiums will be based on the borrower's credit history, loan-to-value ratio, debt-to-income ratio, and on FHA's historical experience with similar borrowers. This amendment maintains FHA reserves within the insurance fund to preserve the future solvency of the FHA program.
- 09/18/2007 - DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Tierney amendment.
- 09/18/2007 - H.AMDT.798 On agreeing to the Hensarling amendment (A005) Failed by recorded vote: 148 - 280 (Roll no. 873).
- 09/18/2007 - DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Gary Miller of California amendment.
- 09/18/2007 - H.AMDT.800 On agreeing to the Biggert amendment (A007) Failed by recorded vote: 175 - 252 (Roll no. 874).
- 09/18/2007 - DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Bishop (NY) amendment.
- 09/18/2007 - The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1852.
- 09/18/2007 - DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Hensarling amendment.
- 09/18/2007 - The previous question was ordered pursuant to the rule. (consideration: CR H10478)
- 09/18/2007 - POSTPONED PROCEEDINGS - At the conclusion of debate on the Hensarling amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hensarling demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
- 09/18/2007 - The House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.
- 09/18/2007 - DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 10 minutes of debate on the Tiberi amendment.
- 09/18/2007 - Mr. Price (GA) moved to recommit with instructions to Financial Services. (consideration: CR H10478-10480 text: CR H10478)
- 09/18/2007 - DEBATE - Pursuant to the provisions of H. Res. 650, the Committee of the Whole proceeded with 20 minutes of debate on the Biggert amendment in the nature of a substitute.
- 09/18/2007 - The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H10479)
- 09/18/2007 - POSTPONED PROCEEDINGS - At the conclusion of debate on the Biggert amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Biggert demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
- 09/18/2007 - On motion to recommit with instructions Failed by the Yeas and Nays: 209 - 216 (Roll no. 875).
- 09/18/2007 - UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which were debated earlier and on which further proceedings were postponed.
- 09/18/2007 - On passage Passed by recorded vote: 348 - 72 (Roll no. 876).
- 09/18/2007 - DEBATE - The House proceeded with 10 minutes of debate on the Price(GA) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to clarify the identification individuals need to obtain affordable housing funds.
- 09/18/2007 - Motion to reconsider laid on the table Agreed to without objection.
- 09/18/2007 - The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 1852.
- 09/18/2007 - Considered under the provisions of rule H. Res. 650. (consideration: CR H10447-10481; text of measure as reported in House: CR H10456-10463)
- 09/18/2007 - H.AMDT.794 Amendment (A001) offered by Mr. Cardoza. (consideration: CR H10463-10465; text: CR H10463) Amendment raises the FHA single family loan limit, by establishing such limit in each area as the lower of (a) 125% of the local median area home price or (b) 175% of the national GSE conforming loan limit; retains the FHA loan floor provision in the reported bill of 65% of the GSE conforming loan limit; and also gives HUD authority to raise these resulting loan limit amounts by up to $100,000 by area and/or by unit size "if market conditions warrant.".
- 09/18/2007 - H.AMDT.795 Amendment (A002) offered by Mr. Tierney. (consideration: CR H10465; text: CR H10465) Amendment directs the Secretary of the Department of Housing and Urban Development to provide mortgage insurance premium refunds to eligible borrowers of FHA insured loans, which were closed prior to December 8, 2004, but which were not endorsed until December 8, 2004 or after that date, and authorizes such sums as may be necessary for such refunds.
- 09/18/2007 - H.AMDT.796 Amendment (A003) offered by Mr. Miller, Gary. (consideration: CR H10465-10467; text: CR H10465) Amendment allows qualified down payment assistance providers to participate in the FHA program if certain conditions are satisfied to ensure that the down payment assistance program is legitimate and that the gift that is provided to the homeowner and the home buyer is truly a gift.
- 09/18/2007 - H.AMDT.797 Amendment (A004) offered by Mr. Bishop (NY). (consideration: CR H10467; text: CR H10467) Amendment clarifies requirements on reverse mortgages for seniors who own permanent foundation homes on leased land.
- 09/18/2007 - H.AMDT.798 Amendment (A005) offered by Mr. Hensarling. (consideration: CR H10467-10469, H10477; text: CR H10467) Amendment sought to remove the funding mechanism in the bill for the Affordable Housing Fund.
- 09/18/2007 - H.AMDT.799 Amendment (A006) offered by Mr. Tiberi. (consideration: CR H10469-10470; text: CR H10469) Amendment requires the Secretary of Housing and Urban Development to ensure high-risk borrowers and borrowers who are applying for zero down-payment loans to receive housing counsel.
- 09/18/2007 - H.AMDT.800 Amendment (A007) in the nature of a substitute offered by Mrs. Biggert. (consideration: CR H10470-10476, H10477-10478; text: CR H10470-10474) Amendment in the nature of a substitute sought to replace the language in the bill with the text of H.R. 5121, the Expanding American Homeownership Act of 2006, which passed the House on July 25, 2006.
- 09/18/2007 - Mr. Price (GA) moved to recommit with instructions to Financial Services. (consideration: CR H10478-10480; text: CR H10478)
- 09/17/2007 - PERMISSION TO FILE SUPPLEMENTAL REPORT - Mr. Al Green (TX) asked unanimous consent that the Committee on Financial Services may have permission to file a supplemental report on H.R. 1852. Agreed to without objection.
- 09/17/2007 - Supplemental report filed by the Committee on Financial Services, H. Rept. 110-217, Part II. (consideration: CR H10406)
- 09/17/2007 - Rules Committee Resolution H. Res. 650 Reported to House. Rule provides for consideration of H.R. 1852 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. A specified amendment is in order.
- 06/28/2007 - Reported (Amended) by the Committee on Financial Services. H. Rept. 110-217.
- 06/28/2007 - Placed on the Union Calendar, Calendar No. 133.
- 05/03/2007 - Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 19.
- 05/02/2007 - Committee Consideration and Mark-up Session Held.
- 04/24/2007 - Sponsor introductory remarks on measure. (CR H4032)
- 04/19/2007 - Subcommittee Hearings Held.
- 04/18/2007 - Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- 03/29/2007 - Referred to the House Committee on Financial Services.
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