HR 4462 113th Congress House Housing and Community Development Financial literacy Housing finance and home ownership Life, casualty, property insurance

Housing Financial Literacy Act of 2014

Introduced: April 10, 2014 Introduced by: Beatty, Joyce Democratic · Ohio See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 10, 2014

Referred to the House Committee on Financial Services.

Apr 10, 2014

Sponsor introductory remarks on measure. (CR E570)

Apr 10, 2014

Introduced in House

Plain-English summary Congressional Research Service

Housing Financial Literacy Act of 2014 - Amends the National Housing Act to revise the single insurance premium payment for a mortgage (secured by a one- to four-family dwelling that is an obligation of the Mutual Mortgage Insurance Fund) of a first-time homebuyer who completes a program of counseling on the responsibilities and financial management involved in homeownership that is approved by the Secretary of Housing and Urban Development (HUD).

Repeals the current maximum premium payment of 2.75% of the amount of the mortgage's original insured principal obligation.

Sets the single mortgage insurance premium payment at 25 basis points lower than the premium payment amount otherwise established.

What's happening now April 10, 2014

Referred to the House Committee on Financial Services.

Committees of jurisdiction 1