HR 1908
114th Congress
House
Housing and Community Development
Financial literacy
Housing finance and home ownership
Life, casualty, property insurance
Housing Financial Literacy Act of 2015
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 22, 2015
Sponsor introductory remarks on measure. (CR E559)
Apr 21, 2015
Referred to the House Committee on Financial Services.
Apr 21, 2015
Introduced in House
Plain-English summary
Housing Financial Literacy Act of 2015
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.
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
Sponsor introductory remarks on measure. (CR E559)
Committees of jurisdiction
1