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HR 3706 111th Congress House Housing and Community Development Government lending and loan guarantees Government studies and investigations Government trust funds Housing finance and home ownership User charges and fees

FHA Taxpayer Protection Act of 2009

Introduced: October 1, 2009 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 1, 2009
Referred to the House Committee on Financial Services.
Oct 1, 2009
Introduced in House
 Plain-English summary Congressional Research Service

FHA Taxpayer Protection Act of 2009 - Amends the National Housing Act to increase the downpayment requirement for a Federal Housing Administration (FHA) mortgage loan from 3.5% to 5%.

Repeals the current inclusion in the principal amount of an FHA mortgage loan of any initial service charges, appraisal, inspection, and other fees that the Secretary of Housing and Urban Development (HUD) approves. Prohibits the inclusion of such charges and fees in the principal amount of an FHA mortgage loan.

Directs the Comptroller General to study and report to Congress on the Mutual Mortgage Insurance Fund and the mortgage insurance programs under which the insurance obligations are obligations of such Fund.

What's happening now October 1, 2009

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Republican 4