H.R. 1116 · 111th Congress
Honest FHA Originator Act of 2009
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WatersSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Honest FHA Originator Act of 2009 - Amends the National Housing Act to remove the Director of the Enforcement Center from the Mortgagee Review Board of the Federal Housing Administration (FHA) of the Department of Housing and Urban Development (HUD).
What it does: CRS summary · Introduced in House · Feb 23, 2009
Honest FHA Originator Act of 2009 - Amends the National Housing Act to remove the Director of the Enforcement Center from the Mortgagee Review Board of the Federal Housing Administration (FHA) of the Department of Housing and Urban Development (HUD).
Declares that any person or entity that is not approved by the HUD Secretary is prohibited from serving as a mortgagee and from participating in the origination of an FHA-insured loan.
Sets forth mortgagee eligibility criteria.
Directs the Secretary to require each mortgagee approved for participation in the FHA mortgage insurance programs to: (1) use the business name of the mortgagee that is registered with the Secretary in all advertisements and promotional materials relating to the business of such mortgagee in the mortgage insurance programs; and (2) maintain copies of such advertisements and promotional materials.
Requires an approved mortgagee to submit immediate written notification of the following actions: (1) the debarment, suspension of a Limited Denial of Participation (LDP), or application of other sanctions, fines, or penalties applied to the mortgagee or to any officer, partner, director, principal, manager, supervisor, loan processor, loan underwriter, or loan originator of the mortgagee pursuant to applicable state or federal law; or (2) the revocation of a state-issued mortgage loan originator license or any other similar declaration of ineligibility pursuant to state law.
Instructs the Secretary to expand the review of FHA mortgagee applicants and newly approved mortgagees.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Honest FHA Originator Act of 2009
Latest action (Feb 23, 2009): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Feb 23, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.