HR 3529 113th Congress House Housing and Community Development Consumer affairs Consumer credit Housing finance and home ownership Interest, dividends, interest rates Low- and moderate-income housing Social work, volunteer service, charitable organizations Tax-exempt organizations

Protecting Habitat Homeownership Act

Introduced: November 19, 2013 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Nov 19, 2013

Referred to the House Committee on Financial Services.

Nov 19, 2013

Introduced in House

Plain-English summary Congressional Research Service

Protecting Habitat Homeownership Act - Amends the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to exempt residential mortgage loans originated by non-profit low-income housing providers from certain minimum loan standards as well as appraisal, servicing, and billing requirements.

Defines "non-profit low-income housing provider" as a tax-exempt charitable organization that does not engage in the business of a loan originator or mortgage broker but does make residential mortgage loans: (1) to promote or facilitate homeownership for poor or low-income, disabled, or other disadvantaged persons or families; and (2) at interest rates lower than the bank prime loan rate; or (3) that are, after adjusting for inflation, no-interest loans or loans with interest rates significantly below the interest rates for loans for purchase of single-family housing generally available in the market. Prescribes additional requirements.

What's happening now November 19, 2013

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1