21st Century FHA Housing Act of 2009

Summary

21 Century FHA Housing Act of 2009 - Amends the National Housing Act to declare that the Secretary of Housing and Urban Affairs (HUD) is not subject to the National Environmental Policy Act of 1969 when insuring any mortgage for a one-family unit in a multifamily project that holds an undivided interest in the common areas and facilities which serve the project (condominium). Authorizes the Secretary to: (1) appoint and fix the compensation of HUD personnel; and (2) use certain funds to maintain an appropriate level of investment in information technology in order to upgrade HUD technology systems used in carrying out personnel-related functions. Requires the Secretary to: (1) establish a comprehensive training and education program to improve certain HUD services to users of Federal Housing Administration (FHA) mortgage insurance programs; and (2) conduct an ongoing review of delinquencies among recent single family housing mortgage originations. Amends the Helping Families Save Their Homes Act of 2009 to direct the Secretary to implement procedures that analyze mortgage performance during the mandatory random review of mortgagees of mortgages on one- to four-family residences who potentially present a high risk to the Mutual Mortgage Insurance Fund. Expresses the sense of the Congress that the Secretary of the Treasury, the Secretary of HUD, and the Director of the Federal Housing Finance Agency should use their authorities under the Emergency Economic Stabilization Act of 2008 (EESA), the Housing and Economic Recovery Act of 2008, and other statutory and regulatory authorities to provide financial support and assistance to facilitate increased warehouse credit capacity by qualified warehouse lenders. Urges that such financial support and assistance: (1) be used only to expand the amount of credit or lending capacity made available to qualified mortgage lenders by qualified warehouse lenders in order to fund residential mortgage loans; and (2) be provided in a form and manner which might include direct loans, guarantees, credit enhancement, and other incentives. Amends the National Housing Act to authorize the Secretary to implement alternative insured mortgage foreclosure avoidance demonstration programs, including methods involving short sales and deeds in lieu of foreclosure, and even partial or full payment of insurance benefits to the mortgagee.

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Documents

8 official files

• Referred in Senate (text)

  Referred in Senate · EN · 16 September 2009

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• Referred in Senate (PDF)

  Referred in Senate · EN · 16 September 2009

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• Engrossed in House (text)

  Engrossed in House · EN · 15 September 2009

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• Engrossed in House (PDF)

  Engrossed in House · EN · 15 September 2009

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• Passed House amended

  summary · EN · 15 September 2009

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• Introduced in House (text)

  Introduced in House · EN · 9 July 2009

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• Introduced in House (PDF)

  Introduced in House · EN · 9 July 2009

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• Introduced in House

  summary · EN · 9 July 2009

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