To amend the National Housing Act of 1934 to limit eligibility for mortgage insurance based on borrower income, and for other purposes.

Summary

Amends the National Housing Act of 1934 to limit mortgage insurance eligibility to mortgagors whose family income is: (1) 115 percent or less of area median family income; and (2) 125 percent or less of statewide median income. Repeals mortgage insurance ceilings on one-to-four family residences.

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

Timeline

1. 28 September 1989

   Introduced

   Referred to the House Committee on Banking, Finance + Urban Affrs.

   Source: IntroReferral

2. 28 September 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 September 1989

   Introduced

   Introduced in House

   Source: IntroReferral

4. 1 October 1989

   Referred

   Referred to the Subcommittee on Housing and Community Development.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 28 September 1989

  Open at official source

Sponsors

• Rep. Kanjorski, Paul E. [D-PA-11] · D · Sponsor
• Marcy Kaptur · D · Cosponsor
• Frank Pallone · D · Cosponsor
• Rep. Garcia, Robert [D-NY-18] · D · Cosponsor
• Rep. Eckart, Dennis E. [D-OH-11] · D · Cosponsor
• · hsba00 · Standing

Related records

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