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HR 600 111th Congress House

FHA Seller-Financed Downpayment Reform Act of 2009

Official title: To revise the requirements for seller-financed downpayments for mortgages for single-family housing insured by the Secretary of Housing and Urban Development u… Show full official titleShow less

Official title: To revise the requirements for seller-financed downpayments for mortgages for single-family housing insured by the Secretary of Housing and Urban Development under title II of the National Housing Act.

Introduced: March 23, 2009 Introduced by: Green, Al Democratic · Texas See on congress.gov
Housing and Community Development Civil actions and liabilityGovernment lending and loan guaranteesHousing finance and home ownershipReal estate business
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2009
Referred to the House Committee on Financial Services.
Jan 16, 2009
Introduced in House
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 Latest action January 16, 2009

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

FHA Seller-Financed Downpayment Reform Act of 2009 - Amends the National Housing Act to make exceptions to the prohibition against mortgage insurance for mortgages involving a downpayment using funds furnished by: (1) the seller or any party that benefits financially from the transaction (seller-financed downpayment); or (2) any third party that is reimbursed by the seller or any such party.

Makes eligible for mortgage insurance, in spite of a seller-financed downpayment, any mortagors with credit scores equivalent to a FICO score of: (1) 680 or more; (2) at least 620 but less than 680; or (3) 619 or less. Prescribes conditions for mortgage insurance in the latter two situations.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 11
All 11 Democratic 10
D
Cleaver, Emanuel
Missouri · Jan 19, 2010
 D
Schakowsky, Janice D.
Illinois · Mar 23, 2009
 D
Scott, Robert C. "Bobby"
Virginia · Mar 23, 2009
 D
Clarke, Yvette D.
New York · Feb 25, 2009
 D
Thompson, Bennie G.
Mississippi · Feb 25, 2009
 D
Bishop, Sanford D.
Georgia · Feb 9, 2009
 D
Costa, Jim
California · Feb 9, 2009
 D
Johnson, Henry C. "Hank"
Georgia · Feb 9, 2009
 D
Wasserman Schultz, Debbie
Florida · Feb 9, 2009
Wilson, Charles
· Feb 9, 2009
 D
Waters, Maxine
California · Jan 16, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 600: FHA Seller-Financed Downpayment Reform Act of 2009. 111th Congress. Open America. https://openamerica.io/bill/111-HR-600/
MLA
"H.R. 600: FHA Seller-Financed Downpayment Reform Act of 2009." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-600/.
Bluebook (legal)
H.R. 600, 111th Cong. (2026), https://openamerica.io/bill/111-HR-600/.
Markdown link
[H.R. 600: FHA Seller-Financed Downpayment Reform Act of 2009](https://openamerica.io/bill/111-HR-600/)
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