HR 3372
101th Congress
House
Housing and Community Development
Mortgage guaranty insurance
To amend the National Housing Act of 1934 to limit eligibility for mortgage insurance based on borrower income, and for other purposes.
Introduced: September 28, 1989
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 1, 1989
Referred to the Subcommittee on Housing and Community Development.
Sep 28, 1989
Referred to the House Committee on Banking, Finance + Urban Affrs.
Sep 28, 1989
Introduced in House
Plain-English summary
Amends the National Housing Act of 1934 to limit mortgage insurance eligibility to mortgagors whose family income is: (1) 115 percent or less of area median family income; and (2) 125 percent or less of statewide median income.
Repeals mortgage insurance ceilings on one-to-four family residences.
What's happening now
Referred to the Subcommittee on Housing and Community Development.
Committees of jurisdiction
2