A bill to provide that the interest rate on federally insured mortgages under section 203(b) of the National Housing Act shall be the rate charged for uninsured mortgages.

Summary

Amends the National Housing Act to require that mortgages insured under such Act by the Secretary of Housing and Urban Development bear interest at the rate charged by the mortgagee for non-insured mortgages. Eliminates the requirement that the Secretary consult with the Administrator of Veterans' Affairs to determine the interest rate necessary to meet the mortgage market for guaranteed or insured loans to veterans.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 4 February 1981

   Introduced

   Introduced in House

   Source: IntroReferral

2. 4 February 1981

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

3. 4 February 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 2 March 1981

   Referred

   Referred to Subcommittee on Housing and Community Development.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 4 February 1981

  Open at official source

Sponsors

• Rep. Neal, Stephen L. [D-NC-5] · D · Sponsor
• · hsba00 · Standing

Related records

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