All Condominium (Housing) Legislation - Federal Government
S.3087 - A bill to amend title 38, United States Code, to make certain improvements in the home loan guaranty programs administered by the Secretary of Veterans Affairs, and for other purposes.
Latest Action: 06/05/2008 - Sponsor introductory remarks on measure. (CR S5210-5211) Bill Text A bill to amend title 38, United States Code, to make certain improvements in the home loan guaranty programs administered by the Secretary of Veterans Affairs, and for other purposes. 6/5/2008--Introduced. Helping Our Veterans to Keep Their Homes Act of 2008 - Increases from 90% to 100% of the reasonable value of a veteran's dwelling or farm residence the amount of the loan to be guaranteed or made in the case of a loan to refinance certain loans. Prohibits collecting a fee from a veteran for a housing loan, unless the loan is used to refinance indebtedness. Changes the loan fee for such loans to 1% of the total amount of the loan guaranteed, insured, or made, or in the case of a loan assumption, the unpaid principal balance of the loan on the date of the transfer of the property. Extends the demonstration projects involving: (1) adjustable rate mortgages through FY2018; and (2) hybrid adjustable rate through FY2012. Increases the maximum loan guaranty [...] show full description Comment on Bill S.2992 - A bill to amend title 38, United States Code, to enhance housing loan authorities for veterans and to otherwise assist veterans and members of the Armed Forces in avoiding the foreclosure of their homes, and for other purposes.
Latest Action: 05/07/2008 - Read twice and referred to the Committee on Veterans' Affairs. Bill Text A bill to amend title 38, United States Code, to enhance housing loan authorities for veterans and to otherwise assist veterans and members of the Armed Forces in avoiding the foreclosure of their homes, and for other purposes. 5/7/2008--Introduced. Armed Forces Housing Security Act - Increases the maximum loan guaranty amount for certain veterans' housing loans guaranteed through the Department of Veterans Affairs (VA). Directs the Secretary of Veterans Affairs to review and streamline the process for guaranteeing veterans' home loans for the purchase of condominiums. Repeals the veterans' home loan fee. Authorizes the Secretary to provide loans to veterans to refinance loans of up to 100% (currently 90%) of the value of the dwelling or farm residence securing the loan. Allows the VA to guarantee refinanced loans not previously guaranteed by the VA. Amends the Servicemembers Civil Relief Act to extend from 90 days to one year after completion of [...] show full description S.2734 - A bill to aid families and neighborhoods facing home foreclosure and address the subprime mortgage crisis.
Latest Action: 03/11/2008 - Star Print ordered on the bill. Bill Text A 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 H.R.4884 - To amend title 38, United States Code, to make certain improvements in the home loan guaranty programs administered by the Secretary of Veterans Affairs, and for other purposes.
Latest Action: 04/30/2008 - Committee Consideration and Mark-up Session Held. Bill Text To amend title 38, United States Code, to make certain improvements in the home loan guaranty programs administered by the Secretary of Veterans Affairs, and for other purposes. 12/19/2007--Introduced. Helping Our Veterans to Keep Their Homes Act of 2008 - Increases from 90% to 100% of the reasonable value of a veteran's dwelling or farm residence the amount of the loan to be guaranteed or made in the case of a loan to refinance certain loans. Repeals the current fee schedule with respect to veterans' housing and small business loans. Changes the loan fee for such loans to 1% of the total amount of the loan guaranteed, insured, or made, or in the case of a loan assumption, the unpaid principal balance of the loan on the date of the transfer of the property. Extends the demonstration projects involving: (1) adjustable rate mortgages through FY2018; and (2) hybrid adjustable rate through FY2012. Increases the maximum loan guaranty amount of the Federal Home [...] show full description S.2325 - A 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.
Latest Action: 11/08/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill Text A 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 S.2338 - An original bill to modernize and update the National Housing Act and enable the Federal Housing Administration to more effectively reach underserved borrowers, and for other purposes.
Latest Action: 12/17/2007 - Received in the House. Bill Text An original bill to modernize and update the National Housing Act and enable the Federal Housing Administration to more effectively reach underserved borrowers, and for other purposes. 12/14/2007--Passed Senate amended. (There are 2 other summaries) FHA Modernization Act of 2007 - Title I: Building American Homeownership - Building American Homeownership Act of 2007 - (Sec. 102) Amends the National Housing Act to: (1) modify requirements for the maximum principal loan obligation, changing one element in the formula from 95% to 100% of the median one-family house price in the area; and (2) limit the principal loan obligation to 100% of the appraised value of the property. (Sec. 103) Amends the National Housing Act to revise eligibility criteria for cash down payment for Federal Housing Administration (FHA) mortgage insurance. Reduces such payment from the current 3% to 1.5% of the appraised value of the property. Repeals the authority [...] show full description H.R.3221 - A bill to provide needed housing reform and for other purposes.
Latest Action: 09/27/2008 - Hearings Held by Subcommittee on Energy and Environment Prior to Introduction and Referral (05/15/2007).. Bill Text A bill to provide needed housing reform and for other purposes. 7/30/2008--Public Law. (There are 4 other summaries) Housing and Economic Recovery Act of 2008 - Division A: Housing Finance Reform - Federal Housing Finance Regulatory Reform Act of 2008 - Title I: Reform of Regulation of Enterprises - Subtitle A: Improvement of Safety and Soundness Supervision - (Sec. 1101) Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to replace the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD) with the Federal Housing Finance Agency (Agency), headed by a Director with regulatory authority over: (1) the Office of Finance; (2) the Federal Home Loan Banks (FHLBs); (3) the Federal National Mortgage Association (Fannie Mae); and (4) the Federal Home Loan Mortgage Corporation (Freddie Mac). (Fannie Mae and Freddie Mac are referred to jointly as the enterprises.) [...] show full description H.R.3121 - To restore the financial solvency of the national flood insurance program and to provide for such program to make available multiperil coverage for damage resulting from windstorms and floods, and for other purposes.
Latest Action: 07/10/2008 - Mr. Capuano moved that the House disagree to the Senate amendment, and request a conference. Bill Text To restore the financial solvency of the national flood insurance program and to provide for such program to make available multiperil coverage for damage resulting from windstorms and floods, and for other purposes. 5/13/2008--Passed Senate amended. (There are 3 other summaries) Title I: Flood Insurance Reform and Modernization - Flood Insurance Reform and Modernization Act of 2008 - (Sec. 104) Amends the National Flood Insurance Act of 1968 (Act) to extend the national flood insurance program (Program) though FY2013. (Sec. 105) Requires the Director of the Federal Emergency Management Agency (FEMA) to make national flood insurance available for multifamily properties of more than four units to a maximum coverage equal to the coverage amount made available to commercial properties. (Sec. 106) Requires the FEMA Director to estimate the exclusion of certain prospective insureds from purchasing flood insurance at risk premium rates [...] show full description H.R.3074 - Making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2008, and for other purposes.
Latest Action: 11/14/2007 - On motion to recommit to conference committee Failed by the Yeas and Nays: 182 - 231 (Roll no. 1101). (consideration: CR H13903) Bill Text Making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2008, and for other purposes. 9/12/2007--Passed Senate amended. (There are 2 other summaries) Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2008 - Title I: Department of Transportation - Department of Transportation Appropriations Act, 2008 - Makes appropriations for FY2008 to the Department of Transportation, including: (1) the Office of the Secretary; (2) the Federal Aviation Administration (FAA); (3) the Federal Highway Administration; (4) the Federal Motor Carrier Safety Administration; (5) the National Highway Traffic Safety Administration (NHTSA); (6) the Federal Railroad Administration; (7) the Federal Transit Administration (FTA); (8) the Saint Lawrence Seaway Development Corporation; (9) the Maritime Administration; (10) the Pipeline and [...] show full description S.1805 - A bill to amend the National Housing Act to increase the mortgage amount limits applicable to housing insured by FHA mortgage insurance.
Latest Action: 07/17/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill Text A 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. H.R.2613 - To amend the Internal Revenue Code of 1986 to exclude from gross income gain on the sale of certain residential leased-fee interests to holders of the leasehold rights.
Latest Action: 06/07/2007 - Referred to the House Committee on Ways and Means. Bill Text To amend the Internal Revenue Code of 1986 to exclude from gross income gain on the sale of certain residential leased-fee interests to holders of the leasehold rights. 6/7/2007--Introduced.
Amends the Internal Revenue Code to exclude from gross income gain from the sale of certain residential leased-fee interests to a holder of the leasehold right if such holder is: (1) an association of apartment owners of a multi-family residential leasehold property; or (2) a cooperative housing corporation for a residential leasehold property. Terminates such exclusion after 2012. H.R.1752 - 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.
Latest Action: 04/18/2007 - Referred to the Subcommittee on Housing and Community Opportunity. Bill Text 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. 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 H.R.1852 - 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.
Latest Action: 09/19/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill Text 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 S.947 - A bill to modernize the Federal Housing Administration to meet the housing needs of the American people.
Latest Action: 03/21/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill Text A bill to modernize the Federal Housing Administration to meet the housing needs of the American people. 3/21/2007--Introduced. 21st Century Housing Act - Amends the Housing Act of 1948 to authorize the Secretary of Housing and Urban Development (HUD), in carrying out any program through the Federal Housing Administration (FHA) to: (1) appoint and fix the compensation of Administration personnel; and (2) use premium-generated income for information technology upgrades. Amends the National Housing Act to: (1) extend the maturity term for insured mortgages; (2) revise mortgage insurance eligibility criteria and requirements for premium charges; (3) authorize waiver of certain requirements for new product initiatives; (4) increase the maximum mortgage amount limit for multifamily housing in high-cost areas; (5) increase the FHA single family housing maximum mortgage limit; and (6) increase the capital ratio for the Mutual Mortgage Insurance Fund. Increases prerequisites [...] show full description H.R.1133 - To provide for the energy independence of the United States.
Latest Action: 03/01/2007 - Referred to the Subcommittee on Energy and Mineral Resources. Bill Text To provide for the energy independence of the United States. 2/16/2007--Introduced. Freedom through Renewable Energy Expansion (FREE) Act - Amends the Energy Policy Act of 2005 to repeal provisions regarding: (1) the next generation nuclear plant project; (2) standby support for certain nuclear plant delays; and (3) incentives for oil and gas production from federal lands. Amends the Internal Revenue Code (IRC) to repeal: (1) the credit for production from advanced nuclear power facilities; (2) the election to expense certain refineries; (3) treatment of natural gas distribution lines as 15-year property; (4) treatment of natural gas gathering lines as seven-year property; (5) the rule for determining the small refiner exception to the oil depletion deduction; and (6) the amortization of geological and geophysical expenditures. Amends the Outer Continental Shelf Lands Act and the Naval Petroleum Reserves Production Act of 1976 to repeal the suspension of: (1) [...] show full description H.R.1043 - To amend the Internal Revenue Code of 1986 to modify the rehabilitation credit and the low-income housing credit.
Latest Action: 02/14/2007 - Referred to the House Committee on Ways and Means. Bill Text To amend the Internal Revenue Code of 1986 to modify the rehabilitation credit and the low-income housing credit. 2/14/2007--Introduced.
Community Restoration and Revitalization Act of 2007 - Amends the Internal Revenue Code to: (1) allow an increased rehabilitation tax credit for certain low-income buildings; (2) allow a basis reduction adjustment for property eligible for the credit; (3) increase the credit for certain smaller buildings; (4) allow property eligible for the credit to be used for lodging purposes; (5) modify placed-in-service rules for credit property; (6) modify qualification rules for credit property that is tax-exempt use property; (7) increase the credit for buildings in high cost areas; and (8) exempt certain condominium transactions from rehabilitation tax credit recapture requirements. |
