HR 4400 111th Congress House Housing and Community Development Housing finance and home ownership Housing for the elderly and disabled Interest, dividends, interest rates Licensing and registrations Low- and moderate-income housing Social work, volunteer service, charitable organizations Tax-exempt organizations

Nonprofit Mortgage Licensing Clarification Act of 2009

Introduced: December 16, 2009 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 16, 2009

Referred to the House Committee on Financial Services.

Dec 16, 2009

Introduced in House

Plain-English summary Congressional Research Service

Nonprofit Mortgage Licensing Clarification Act of 2009 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to permit a state to exempt from certain registration or licensing requirements any charitable organization exempt from federal tax (including their employees and agents acting as loan originators), if the organization: (1) executes loan originations in order to promote or facilitate homeownership for certain low-income, disabled, or other disadvantaged persons or families; (2) offers loans at interest rates lower than the bank prime loan rate, or that are no-interest loans or loans with interest rates significantly below those for loans to purchase generally available single-family housing; and (3) does not otherwise engage in the business of a loan originator or mortgage broker.

What's happening now December 16, 2009

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1