H.R. 851 · 115th Congress
Housing Financial Literacy Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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BeattySponsor24 cosponsors · 23 D, 1 R
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Conyers
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Watson Coleman
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Cleaver7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the National Housing Act to modify 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.
What it does: CRS summary · Introduced in House · Feb 3, 2017
Housing Financial Literacy Act of 2017
This bill amends the National Housing Act to modify 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 maximum 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Housing Financial Literacy Act of 2017
Latest action (Feb 3, 2017): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Feb 3, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.