Top Legislation - View All
Also tagged in: Acreage allotments, Administrative fees, Administrative procedure, Aflatoxins, Agribusiness, Agricultural assistance, Agricultural colleges, Agricultural conservation, Agricultural credit, Agricultural education, Agricultural estimating and reporting, Agricultural experiment stations, Agricultural extension work, Agricultural innovations, Agricultural labor, Agricultural prices, Agricultural research, Agricultural subsidies, Agriculture, Agriculture in foreign trade, Air pollution, Alabama, Alaska, Alcohol as fuel, Alcoholism, Alternative crops, Alternative energy sources, American Samoa, Animal diseases, Animals, Appropriations, Aquaculture, Armed forces, Authorization, Barley, Bees, Biological warfare, Biomass energy, Biotechnology, Black colleges, Block grants, Broadband, Budgets, Business, Buy American, California, Carbon cycle, Caribbean area, Chesapeake Bay, Child labor, Child nutrition, Children, Civil liberties, Climate change, Commemorations, Commercial arbitration, Commercialization, Computers, Congress, Congressional oversight, Congressional reporting requirements, Conservation easements, Consumer education, Consumers, Corn, Cotton, Counterterrorism, Criminal justice, Crop insurance, Dairy industry, Dairy products, Death, Defense policy, Department of Agriculture, Developing countries, Disabled, Disaster loans, Disaster relief, Distance education, District of Columbia, Drug abuse, Drug abuse prevention, Drug abuse treatment, Economic policy, Education, Electric power production, Emergency communication systems, Emergency management, Emergency medicine, Energy, Energy conservation, Energy conservation in buildings, Energy crops, Energy efficiency, Energy research, Entrepreneurs, Environmental protection, Eutrophication, Executive departments, Executive reorganization, Export finance, Exports, Farm lands, Farmers, Farms, Federal advisory bodies, Federal aid to education, Federal aid to research, Federal aid to water pollution control, 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protection, Plants, Policy sciences, Politics and government, Poultry, Public broadcasting, Public contracts, Public lands, Public service advertising, Puerto Rico, Radio broadcasting, Railroads, Range management, Refuse and refuse disposal, Refuse as fuel, Reinsurance, Research and development, Research and development facilities, Research centers, Research grants, Restaurants, Restoration ecology, Rice, Right of privacy, Risk, Rural affairs, Rural economic development, Rural health, Saline waters, Scholarships, Science policy, Scientific instruments and apparatus, Seasonal labor, Sediment control, Self-help devices for the disabled, Sheep, Small business, Social security, Social services, Soil conservation, Soil erosion, Solar energy, Solid wastes, Sorghum, Soybeans, State and local government, Storage, Sugar, Surplus government property, Swine, Tariff, Tariff preferences, Taxation, Technical assistance, Technology, Technology transfer, Telecommunication, Telemedicine, Television broadcasting, Terrorism, Trade, Trade agreements, Transportation, Trees, Vegetables, Veterinary medicine, Virus diseases, Waste water treatment, Water pollution, Water pollution control, Water quality, Water resources, Water supply, Watersheds, Weather forecasting, Weeds, Welfare, Welfare eligibility, Welfare work participation, Wells, Wetlands, Wheat, Wildlife conservation, Wind power, Wisconsin, Wool
Latest Action: 05/22/2008 - Veto message received in Senate. Ordered held at the desk. Bill TextTo provide for the continuation of agricultural programs through fiscal year 2012, and for other purposes. 5/22/2007--Introduced. Farm Bill Extension Act of 2007 - Extends and revises agricultural and related programs respecting: (1) commodities; (2) sugar; (3) dairy; (4) conservation; (5) exports and trade assistance; (6) food stamps and nutrition; (7) agricultural credit; (8) rural development; (9) rural electrification; (10) agricultural research; (11) forestry; (12) energy; (13) specialty crops; and (14) livestock.
Also tagged in: Administrative fees, Administrative procedure, Alternative energy sources, Biomass energy, Budgets, Building laws, Business, Consumer protection, Consumers, Contracts, Department of Energy, Department of Housing and Urban Development, Electric power distribution, Electric utilities, Electric utility rates, Energy, Environmental protection, Executive departments, Federal Energy Regulatory Commission, Federal office buildings, Federal preemption, Fuel cells, Geothermal resources, Government information, Home repair and improvement, Homeowners' associations, Housing, Independent regulatory commissions, Landfills, Law, Leases, Licenses, Methane, Public contracts, Public meetings, Rental housing, Solar access rights, Solar energy, Solid wastes, Standards, State and local government, State laws, Wind power
Latest Action: 03/28/2007 - Read twice and referred to the Committee on Energy and Natural Resources. Bill TextA bill to amend the Public Utility Regulatory Policies Act of 1978 to promote energy independence and self-sufficiency by providing for the use of net metering by certain small electric energy generation systems, and for other purposes. 3/28/2007--Introduced. Solar Opportunity and Local Access Rights Act - Amends the Public Utility Regulatory Policies Act of 1978 to require each state regulatory authority with ratemaking authority, and each nonregulated electric utility, to conduct a hearing, and on the basis of such hearing, adopt a net metering standard. Requires retail electric suppliers to offer to arrange to make net metering available to retail customers on a first-come-first-served basis. Prescribes implementation requirements regarding: (1) net energy measurement; (2) billing practices; (3) ownership of credits; (4) safety and performance standards; and (5) determination of compliance. Directs the Federal Energy Regulatory Commission (FERC) to [...] show full description
Also tagged in: Bank capital, Bank fraud, Department of Housing and Urban Development, Executive departments, Executive reorganization, Federal advisory bodies, Federal home loan banks, Federal Housing Finance Board, Finance, Fraud, Housing, Information disclosure (Securities law), Investments, Lobbying, Mortgages, Politics and government, Secondary mortgage market, Securities regulation
Latest Action: 04/12/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to address the regulation of secondary mortgage market enterprises, and for other purposes. 4/12/2007--Introduced. Federal Housing Enterprise Regulatory Reform Act of 2007 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency, headed by a Director, which shall have authority over: the Federal Home Loan Banks, the Finance Facility, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). Establishes the Federal Housing Enterprise Board, without executive authority, to advise the Director. Sets forth operating, administrative, and regulatory provisions of the Agency, including: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical [...] show full description
Also tagged in: Aged, Alabama, Alien labor, Authorization, Block grants, Budgets, Casualty insurance, Civil rights, Civil rights enforcement, Commemorations, Community development, Congress, Congressional investigations, Congressional reporting requirements, Congressional tributes, Criminal justice, Damages, Disaster insurance, Disaster relief, Emergency housing, Emergency management, Environmental assessment, Environmental protection, Fair housing, Federal aid to housing, Finance, Government liability, Hawaii, Home repair and improvement, Homestead law, Housing, Housing authorities, Housing for the aged, Housing subsidies, Hurricanes, Immigration, Infrastructure, Land transfers, Landlord and tenant, Law, Lobbying, Louisiana, Metropolitan areas, Mississippi, Mortgage guaranty insurance, Natural resources, Politics and government, Public housing, Real estate development, Rent, Rental housing, Residential rehabilitation, Social services, State and local government, Surveys, Urban affairs, Urban areas
Latest Action: 03/23/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo assist in the provision of affordable housing to low-income families affected by Hurricane Katrina. 3/21/2007--Passed House amended. (There are 2 other summaries) Gulf Coast Hurricane Housing Recovery Act of 2007 - Prohibits the use of any funds authorized by this Act to lobby or retain a lobbyist for the purpose of influencing a federal, state, or local governmental entity or officer. Title I: Community Development Block Grants - (Sec. 101) Prohibits the Director of the Federal Emergency Management Agency (FEMA) from prohibiting or restricting the use by the state of Louisiana of specified amounts targeted under its Road Home Program for Hurricanes Katrina and Rita, based upon a program requirement or condition that: (1) limits or reduces the amount made available to an eligible homeowner who does not agree to remain an owner and occupant of a home in Louisiana; or (2) waives the applicability of certain limitations or reductions [...] show full description
Also tagged in: Actions and defenses, Administrative fees, Administrative procedure, Advice and consent of the Senate, Affordable housing, Aged, Apartment houses, Auditing, Bank capital, Bank examination, Bank loans, Bank mergers, Bank reserves, Bankruptcy, Budgets, Business, Charitable contributions, Children, Community development banking, Conflict of interests, Congress, Congressional investigations, Congressional reporting requirements, Contracts, Corporate governance, Corporate philanthropy, Corporation directors, Criminal justice, Damages, Day care, Department of Housing and Urban Development, Depressed areas, Economic policy, Employee rights, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Environmental protection, Executive compensation, Executive departments, Executive reorganization, Federal advisory bodies, Federal aid to housing, Federal employees, Federal home loan banks, Federal Housing Finance Board, Finance, Financial statements, Fines (Penalties), Fraud, Government corporations, Government employees, Government information, Government paperwork, Government publicity, Government trust funds, Home ownership, Housing, Housing finance, Housing subsidies, Income tax, Information disclosure (Securities law), Injunctions, Interest rates, Judicial review, Labor, Law, Leases, Liability (Law), Liens, Limitation of actions, Low-income housing, Medical care, Medicine, Minorities, Minorities in government, Minority business enterprises, Minority employment, Money laundering, Mortgage banks, Mortgages, Nonprofit organizations, Nursing homes, Ombudsman, Politics and government, Presidential appointments, Presidents, Price indexes, Rent, Rental housing, Rural affairs, Rural housing, Secondary mortgage market, Securities regulation, Social services, Standards, Stocks, Sunset legislation, Tax credits, Taxation, Transfer of employees, Welfare, Women, Women in business, Women in government, Women's employment
Latest Action: 05/24/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo reform the regulation of certain housing-related Government-sponsored enterprises, and for other purposes. 5/22/2007--Passed House amended. (There are 2 other summaries) Federal Housing Finance Reform Act of 2007 - Title I: Reform of Regulation of Enterprises and Federal Home Loan Banks - Subtitle A: Improvement of Safety and Soundness - (Sec. 101) Amends the Housing and Community Development Act of 1992 (Act) to establish, in place of the present Office of Federal Housing Enterprise Oversight, a Federal Housing Finance Agency (FHFA), headed by a Director (Director) possessing general supervisory and regulatory authority over the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the federal home loan banks ("the regulated entities"). (Sec. 102) Requires the Director to establish standards for each regulated entity, especially standards relating to: (1) [...] show full description
Also tagged in: Apartment houses, Budgets, Federally-guaranteed loans, Finance, Fines (Penalties), Housing, Law, Mortgage guaranty insurance, Real estate appraisal, Rural affairs, Rural housing
Latest Action: 06/07/2007 - Referred to the Subcommittee on Housing and Community Opportunity. Bill TextTo amend the National Housing Act to ensure fair appraisals in connection with mortgages insured under the FHA single family mortgage insurance program. 3/27/2007--Introduced. Fair FHA Appraisals Act of 2007 - Amends the National Housing Act to subject to civil money penalties actions that improperly influence appraisals for an FHA insured mortgage for a small-family residence by compensating, instructing, inducing, coercing, or intimidating any person who conducts an appraisal in connection with such mortgage in order to cause the appraised value to be based on any other factor other than the independent judgment exercised in accordance with professional standards. Modifies FHA mortgage insurance appraisal standards to require that: (1) the appraisal be conducted by an appraiser selected by the Secretary of Housing and Urban Development on a rotating basis, mortgage-by-mortgage, from a list of appraisers (blind draws) developed by the Secretary; and (2) an authorized [...] show full description
Also tagged in: Aged, Apartment houses, Auditing, Budgets, Condominium (Housing), Congress, Congressional oversight, Congressional reporting requirements, Correspondent banks, Disaster relief, Disasters, Emergency management, Federally-guaranteed loans, Finance, Government information, Government paperwork, Government trust funds, Hawaii, Hawaiians, Home equity conversion, Home improvement loans, Home ownership, Housing, Housing finance, Housing for the aged, Indian housing, Indians, Insurance premiums, Loan defaults, Management information systems, Minorities, Mortgage banks, Mortgage guaranty insurance, Mortgages, Prices, Real estate agents, Real estate appraisal, Risk, Technology
Latest Action: 04/18/2007 - Referred to the Subcommittee on Housing and Community Opportunity. Bill TextTo 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. 3/29/2007--Introduced. Expanding American Homeownership Act of 2007 - Amends the National Housing Act to: (1) modify guidelines governing the maximum principal loan obligation; (2) extend the mortgage term; and (3) revise requirements for cash payment by the mortgagor in the eligibility criteria for mortgage insurance. Directs the Secretary of Housing and Urban Development (HUD) to reinstate the current downpayment requirement in the event of increased defaults. Authorizes the Secretary to establish a mortgage insurance premium structure involving a single premium payment collected prior to the insurance of the mortgage that may vary during the mortgage term as long as the basis for determining the variable rate is established before the execution of the mortgage. Sets [...] show full description
Also tagged in: Aged, Apartment houses, Budgets, Condominium (Housing), Cooperative housing, Disasters, Emergency management, Families, Federal aid to housing, Federally-guaranteed loans, Finance, Housing, Housing for the aged, Moderate income housing, Mortgages, Rental housing, Residential rehabilitation, Urban affairs, Urban renewal
Latest Action: 07/17/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to amend the National Housing Act to increase the mortgage amount limits applicable to housing insured by FHA mortgage insurance. 7/17/2007--Introduced. FHA Loan Limit Adjustment Act of 2007 - Amends the National Housing Act with respect to mortgage insurance eligibility to revise requirements for the principal amount of a mortgage loan, in part increasing the amount of a mortgage that may be insured by the Federal Housing Administration (FHA). Repeals the requirement that certain mortgagors, before a mortgage is insured, complete a program of counseling on the responsibilities and financial management involved in homeownership. Increases high-cost area and project-based additional mortgage loan limits for FHA-insured mortgages for: (1) rental housing; (2) cooperative housing; (3) rehabilitation and neighborhood conservation housing insurance; (4) moderate income and displaced family housing; (5) housing for the elderly; and (6) condominiums.
Also tagged in: Administrative procedure, Affordable housing, Aged, Apartment houses, Budgets, Children, Condominium (Housing), Congress, Congressional investigations, Congressional reporting requirements, Consumer education, Consumers, Cooperative housing, Correspondent banks, Counseling, Credit bureaus, Day care, Debtor and creditor, Department of Housing and Urban Development, Disaster relief, Electronic data interchange, Emergency management, Executive departments, Federal aid to housing, Federal-local relations, Federal-state relations, Federally-guaranteed loans, Finance, Fines (Penalties), Foreclosure, Government information, Government paperwork, Government trust funds, Governmental investigations, Hawaiians, Home equity conversion, Home ownership, Housing, Housing finance, Housing for the aged, Identification devices, Indian housing, Indians, Information technology, Insurance premiums, Law, Loan defaults, Low-income housing, Minorities, Mobile homes, Mortgage banks, Mortgage guaranty insurance, Mortgages, Prefabricated buildings, Real estate appraisal, Rental housing, Residential rehabilitation, Risk, Settlement costs, Social services, Standards, State and local government, Surety and fidelity, Technology, Telecommunication, Welfare
Latest Action: 09/19/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo 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
Also tagged in: Agriculture, Budgets, Disabled, Economic policy, Farmers, Federal aid to housing, Federally-guaranteed loans, Finance, Home ownership, Home repair and improvement, Housing, Housing for the disabled, Income, Low-income housing, Mortgages, Rural affairs, Rural housing, Welfare
Latest Action: 03/06/2008 - S.AMDT.4139 Referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to reform the single family housing loan guarantee program under the Housing Act of 1949. 8/3/2007--Introduced. Home Ownership Made Easier Act or the HOME Act - Amends the Housing Act of 1949 to revise eligibility, qualifying population limit, guarantee fee, and refinancing requirements of the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program.Replaces the current 115% of area median income eligibility limit for families with three income tiers, including households of up to four members, of up to eight members, and of over eight members.Repeals the requirement that the loan applicant qualify for other specified federal housing loans as well. Requires the single-family residence acquired or constructed with such a loan to be located in a rural area (as under current law), but allows the area population to range up to 40,000.Increases from 1% to 2% of the principal obligation of a guaranteed loan the guarantee fee which the Secretary [...] show full description
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Latest Legislation - View All
Latest Action: 03/13/2008 - Sponsor introductory remarks on measure. (CR 3/14/2008 S2150) Bill TextA bill to provide a temporary increase in the maximum loan guaranty amount for certain housing loans guaranteed by the Secretary of Veterans Affairs. 3/13/2008--Introduced. Provides a temporary increase, during the period beginning on the date of enactment of this Act and ending on December 31, 2011, in the maximum veterans' loan guaranty amount for housing loans guaranteed by the Department of Veterans Affairs (VA).
Latest Action: 03/14/2008 - Referred to the Subcommittee on Economic Opportunity. Bill TextTo amend the Economic Stimulus Act of 2008 to provide for a temporary increase in the maximum loan guaranty amount for housing loans guaranteed by the Secretary of Veterans Affairs. 3/13/2008--Introduced. Amends the Economic Stimulus Act of 2008 to provide a temporary increase, during the period beginning February 13, 2008, and ending on December 31, 2008, in the maximum veterans' loan guaranty amount for housing loans guaranteed by the Department of Veterans Affairs (VA).
Also tagged in: Administrative procedure, Afghanistan, Apartment houses, Armed forces, Bonds, Budgets, Condominium (Housing), Congress, Congressional investigations, Congressional reporting requirements, Consumer credit, Consumers, Cooperative housing, Counseling, Damages, Defense policy, Department of the Treasury, Economic policy, Energy, Energy efficiency, Executive departments, Federal aid to housing, Federally-guaranteed loans, Fees, Finance, Foreclosure, Fraud, Government trust funds, Hawaiians, Home equity conversion, Home ownership, Housing, Income tax, Indexing (Economic policy), Indian housing, Insurance premiums, Iraq, Iraq compilation, Law, Leases, Liability (Law), Loan defaults, Losses, Middle East and North Africa, Military operations, Minimum tax, Minorities, Mobile homes, Mortgage guaranty insurance, Mortgage interest rates, Mortgages, Performance measurement, Rental housing, Residential rehabilitation, Social services, South Asia, Tax credits, Tax deductions, Taxation, Trusts and trustees, Veterans
Latest Action: 03/11/2008 - Star Print ordered on the bill. Bill TextA bill to aid families and neighborhoods facing home foreclosure and address the subprime mortgage crisis. 3/7/2008--Introduced. Security Against Foreclosures and Education Act, or the SAFE Act - Amends the Internal Revenue Code to allow proceeds of qualified mortgage bonds to be used to refinance certain residential subprime loans. Requires the Neighborhood Reinvestment Corporation to continue to award expeditiously certain funds already provided for mortgage foreclosure counseling. Amends the Code to allow purchasers of certain single-family principal residences a one-time tax credit. Amends the Truth in Lending Act to: (1) revise creditor mortgage loan disclosure requirements; and (2) increase civil damages for noncompliance with such Act. Amends the Code to: (1) allow a five-year carryback of net operating losses for certain taxable years; and (2) suspend through taxable year 2009 the 90% of alternative minimum taxable income limit for certain [...] show full description
Latest Action: 03/14/2008 - Referred to the Subcommittee on Economic Opportunity. Bill TextTo amend the Economic Stimulus Act of 2008 to provide for a temporary increase in the maximum loan guaranty amount for housing loans guaranteed by the Secretary of Veterans Affairs. 3/10/2008--Introduced. Amends the Economic Stimulus Act of 2008 to provide a temporary increase, during the period beginning February 13, 2008, and ending on December 31, 2008, in the maximum veterans' loan guaranty amount for housing loans guaranteed by the Department of Veterans Affairs (VA).
Latest Action: 03/10/2008 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases. 3/10/2008--Introduced. Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.
Latest Action: 03/14/2008 - Referred to the Subcommittee on Economic Opportunity. Bill TextTo amend the Economic Stimulus Act of 2008 to provide for a temporary increase in the maximum loan guaranty amount for housing loans guaranteed by the Secretary of Veterans Affairs. 3/10/2008--Introduced. Veterans Mortgage Stimulus Clarification Act of 2008 - Amends the Economic Stimulus Act of 2008 to provide a temporary increase, during the period beginning February 13, 2008, and ending on December 31, 2008, in the maximum veterans' loan guaranty amount for housing loans guaranteed by the Department of Veterans Affairs (VA).
Latest Action: 01/29/2008 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to provide a Federal income tax credit for certain home purchases. 1/29/2008--Introduced. Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.
Also tagged in: Affordable housing, Apartment houses, Budgets, Building construction, Citizen participation, Congressional reporting requirements, Counseling, Criminal justice, Data banks, Education, Electronic government information, Elementary and secondary education, Emergency management, Energy, Energy conservation, Energy conservation in buildings, Environmental protection, Federal aid to housing, Federal aid to Indians, Federally-guaranteed loans, Finance, Fire fighters, Government employees, Government information, Government publicity, Government trust funds, Green products, Housing, Housing finance, Housing subsidies, Indian housing, Indians, Insurance premiums, Law enforcement officers, Local employees, Low-income housing, Medical care, Medicine, Minorities, Mortgage guaranty insurance, Paramedical personnel, Police, Politics and government, Public housing, Rental housing, Social services, State and local government, State employees, Teachers, Technology, Telecommunication, Water conservation, Water resources, Welfare
Latest Action: 12/19/2007 - Sponsor introductory remarks on measure. (CR S16014-16015) Bill TextA bill to establish the National Affordable Housing Trust Fund in the Treasury of the United States to provide for the construction, rehabilitation, and preservation of decent, safe, and affordable housing for low-income families. 12/19/2007--Introduced. National Affordable Housing Trust Fund Act of 2007 - Amends the Cranston-Gonzalez National Affordable Housing Act to establish in the Treasury a National Affordable Housing Trust Fund available to the Secretary of Housing and Urban Development to provide assistance to states, Indian tribes, insular areas, and participating local jurisdictions to increase the supply of decent quality affordable housing, especially for low-income, extremely low-income, and very poor families. Prohibits the use of appropriations to the Fund for a fiscal year unless the amount equal to the net increase in the negative credit subsidy for specified mortgage insurance programs is first made available for: (1) single family housing mortgage [...] show full description
Also tagged in: Affordable housing, Apartment houses, Block grants, Budgets, Community development, Community development banking, Congress, Congressional reporting requirements, Economic development, Economic policy, Federally-assisted loans, Finance, Fines (Penalties), Foreclosure, Government trust funds, Housing, Infrastructure, Injunctions, Law, Low-income housing, Mobile homes, Moderate income housing, Mortgage banks, Mortgages, Residential rehabilitation, Rural affairs, Rural housing, Secondary mortgage market, State and local government
Latest Action: 11/16/2007 - Sponsor introductory remarks on measure. (CR S14630) Bill TextA bill to provide for affordable housing relief, and for other purposes. 11/16/2007--Introduced. Government Sponsored Enterprise Mission Improvement Act, or the GSE Mission Improvement Act - Amends the Housing and Community Development Act of 1992 to modify requirements for annual reports to specified congressional committees by the Secretary of Housing and Urban Development on the activities of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises). Requires the contents of such reports to: (1) identify the extent to which the enterprises are involved in mortgage purchases and secondary market activities involving subprime loans; and (2) compare the characteristics of subprime loans purchased and securitized by the enterprises to their other loans. Revises requirements for the establishment by the Secretary of housing goals to emphasize single-family housing goals and a multifamily [...] show full description
Also tagged in: Aged, Apartment houses, Auditing, Budgets, Condominium (Housing), Congress, Congressional oversight, Congressional reporting requirements, Correspondent banks, Disaster relief, Disasters, Emergency management, Federally-guaranteed loans, Finance, Government information, Government paperwork, Government trust funds, Hawaii, Hawaiians, Home equity conversion, Home improvement loans, Home ownership, Housing, Housing finance, Housing for the aged, Indian housing, Indians, Insurance premiums, Loan defaults, Management information systems, Minorities, Mortgage banks, Mortgage guaranty insurance, Mortgages, Prices, Real estate agents, Real estate appraisal, Risk, Technology
Latest Action: 11/08/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill 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. 11/8/2007--Introduced. Expanding American Homeownership Act of 2007 - Amends the National Housing Act to: (1) modify guidelines governing the maximum principal loan obligation; (2) extend the mortgage term; and (3) revise requirements for cash payment by the mortgagor in the eligibility criteria for mortgage insurance. Directs the Secretary of Housing and Urban Development (HUD) to reinstate the current downpayment requirement in the event of increased defaults. Authorizes the Secretary to establish a mortgage insurance premium structure involving a single premium payment collected prior to the insurance of the mortgage that may vary during the mortgage term as long as the basis for determining the variable rate is established before the execution of the mortgage.[...] show full description
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