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HR 2162 116th Congress House Housing and Community Development Financial literacy Housing finance and home ownership Life, casualty, property insurance

Housing Financial Literacy Act of 2019

Introduced: April 9, 2019 Introduced by: Beatty, Joyce Democratic · Ohio See on congress.gov
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 Everywhere this bill has been 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 10, 2019
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 9, 2019
Motion to reconsider laid on the table Agreed to without objection.
Jul 9, 2019
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5278)
Jul 9, 2019
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H5278)
Jul 9, 2019
DEBATE - The House proceeded with forty minutes of debate on H.R. 2162.
Jul 9, 2019
Considered under suspension of the rules. (consideration: CR H5278-5280)
Jul 9, 2019
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Jun 11, 2019
Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 6.
Jun 11, 2019
Committee Consideration and Mark-up Session Held.
Apr 9, 2019
Referred to the House Committee on Financial Services.
Apr 9, 2019
Introduced in House
 Plain-English summary Congressional Research Service

Housing Financial Literacy Act of 2019

This bill modifies the discount given by the Federal Housing Administration (FHA) on single-family mortgage-insurance premium payments for first-time homebuyers who complete a financial-management counseling program. Under current law, the maximum premium amount for such homebuyers is 2.75% of the original insured principal obligation of the mortgage (compared to 3% for other homebuyers). The bill instead requires that the premium amount for such homebuyers be 25 basis points (0.25% of the original insured principal obligation of mortgage) lower than the amount otherwise established by the FHA. The bill also specifies that first-time homebuyers must complete the financial-management counseling program prior to applying for a mortgage or entering into a sales agreement.

What's happening now July 10, 2019

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 2