S 1195
107th Congress
Senate
Housing and Community Development
Administrative procedure
Administrative remedies
Department of Housing and Urban Development
Finance and Financial Sector
Foreclosure
Government Operations and Politics
Government paperwork
Law
Loan defaults
Mortgage guaranty insurance
Mortgage loans
Single family housing
Credit Watch Act of 2001
Introduced: July 18, 2001
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 18, 2001
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 18, 2001
Sponsor introductory remarks on measure. (CR S7882)
Jul 18, 2001
Introduced in Senate
Plain-English summary
Credit Watch Act of 2001 - Amends the National Housing Act to direct the Secretary of Housing and Urban Development to review, at least annually, the indicators of portfolio risk for insured single family mortgages originated or underwritten by each mortgagee, and compare such risk with comparable mortgages in the same area. Authorizes the Secretary, based upon such comparison, to terminate the approval of a mortgage as an unacceptable insurance risk.
Sets forth termination procedures.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1