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HR 3507 108th Congress House

Improving Homeownership Opportunities in High-Cost States Act

Official title: To expand homeownership opportunities in States having high housing costs.

Introduced: March 17, 2004 Introduced by: Sherman, Brad Democratic · California See on congress.gov
Housing and Community Development Affordable housingFinance and Financial SectorHome ownershipHousing finance
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Metropolitan areasMortgagesSecondary mortgage marketSingle family housingUrban affairs
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) 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
Jan 2, 2004
Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Nov 18, 2003
Introduced in House
Nov 18, 2003
Referred to the House Committee on Financial Services.
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 Latest action January 2, 2004

Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

 Plain-English summary Congressional Research Service

Improving Homeownership Opportunities in High-Cost States Act - Amends the Federal National Mortgage Association Charter Act (Fannie Mae) and the Federal Home Loan Mortgage Corporation Act (Freddie Mac) to include among the exceptions to the prohibition that an outstanding mortgage cannot exceed 80 percent of the securing property's value for a residential mortgage those properties located in a State containing any high-cost metropolitan statistical area (or portion thereof).

Bases such high-cost determination on specified quarterly average one-family home prices.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 8
All 8 Democratic 8
D
Nadler, Jerrold
New York · Mar 17, 2004
 D
Larson, John B.
Connecticut · Mar 11, 2004
 D
Sánchez, Linda T.
California · Mar 3, 2004
 D
Pallone, Frank
New Jersey · Feb 3, 2004
 D
Waters, Maxine
California · Jan 28, 2004
 D
Lofgren, Zoe
California · Nov 18, 2003
 D
Lynch, Stephen F.
Massachusetts · Nov 18, 2003
 D
Schiff, Adam B.
California · Nov 18, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3507: Improving Homeownership Opportunities in High-Cost States Act. 108th Congress. Open America. https://openamerica.io/bill/108-HR-3507/
MLA
"H.R. 3507: Improving Homeownership Opportunities in High-Cost States Act." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-3507/.
Bluebook (legal)
H.R. 3507, 108th Cong. (2026), https://openamerica.io/bill/108-HR-3507/.
Markdown link
[H.R. 3507: Improving Homeownership Opportunities in High-Cost States Act](https://openamerica.io/bill/108-HR-3507/)
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