United States · Bill · HR
H.R. 3507 (108th)
Improving Homeownership Opportunities in High-Cost States Act
Introduced
18 November 2003
Last action
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Status
Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Sponsors
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Subjects
Discovery layer
Source updated
18 August 2025
Summary
Improving Homeownership Opportunities in High-Cost States Act - Amends the Federal National Mortgage Association Charter Act (Fannie Mae) and the Federal Home Loan Mortgage Corporation Act (Freddie Mac) to include among the exceptions to the prohibition that an outstanding mortgage cannot exceed 80 percent of the securing property's value for a residential mortgage those properties located in a State containing any high-cost metropolitan statistical area (or portion thereof). Bases such high-cost determination on specified quarterly average one-family home prices.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 18 November 2003
Introduced in House (PDF)
Introduced in House · EN · 18 November 2003
Introduced in House
summary · EN · 18 November 2003
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/108th-congress/house-bill/3507
- Open data entity: https://api.congress.gov/v3/bill/108/hr/3507