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S. 1195 107th Congress Senate

Credit Watch Act of 2001

Official title: A bill to amend the National Housing Act to clarify the authority of the Secretary of Housing and Urban Development to terminate mortgagee origination approval for poorly performing mortgagees.

Introduced: July 18, 2001 See on congress.gov
Housing and Community Development Administrative procedureAdministrative remediesDepartment of Housing and Urban DevelopmentFinance and Financial Sector
More subjectsShow fewer subjects
ForeclosureGovernment Operations and PoliticsGovernment paperworkLawLoan defaultsMortgage guaranty insuranceMortgage loansSingle family housing
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action July 18, 2001

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service
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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Reed, Jack
Rhode Island · Jul 19, 2001
 D
Durbin, Richard J.
Illinois · Jul 18, 2001
 D
Schumer, Charles E.
New York · Jul 18, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1195: Credit Watch Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-S-1195/
MLA
"S. 1195: Credit Watch Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-S-1195/.
Bluebook (legal)
S. 1195, 107th Cong. (2026), https://openamerica.io/bill/107-S-1195/.
Markdown link
[S. 1195: Credit Watch Act of 2001](https://openamerica.io/bill/107-S-1195/)
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